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2 months ago
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Memecoin hits 22-cents with explosive 1 billion+ trading volume during key breakouts as institutional interest builds.
Updated Aug 8, 2025, 4:30 a.m. Published Aug 8, 2025, 4:30 a.m.
(CoinDesk Data)
What to know:
- DOGE surged 8.4% to $0.22 in a volatile 24-hour period, driven by two breakout waves.
- Trading volume exceeded 1 billion, significantly higher than the 378 million daily average.
- New resistance is noted at $0.222-$0.224, with support holding above $0.220.
DOGE jumped 8.4% in the 24-hour period ending August 8, climbing from $0.20 to $0.22 in a two-phase rally. Price action spans a $0.021 range, marking 9.5% volatility.
As per CoinDesk analytics, a new resistance forms at $0.222-$0.224, while support holds at $0.220. Consolidation appears likely before the next directional move.
Price Action Summary
• DOGE rallies 8.4% from $0.20 to $0.22 in a volatile 24-hour session ending August 8
• Two breakout waves — 10:00 push to $0.213 and 19:00-22:00 surge to $0.223 — drive gains
• Whale accumulation tops 1 billion DOGE in 48 hours, lifting institutional confidence with analyst targets at $0.34 and $0.50
Technical Indicators Analysis
• Price gains 8.4% from $0.20 to $0.22 with 9.5% volatility
• Two rally phases: 10:00 breakout to $0.213, 19:00-22:00 surge to $0.223
• Trading volume spikes above 1 billion during breakouts vs. 378 million average
• Resistance set at $0.222-$0.224 with firm support above $0.220
• RSI nearing historical breakout thresholds linked to 70% rallies
• Inverse head-and-shoulders pattern with liquidation clusters near $0.21
• Hourly consolidation in $0.2208-$0.2223 range on declining volume
What Traders Are Watching
• Whether whale-led accumulation triggers short squeeze above $0.223
• Breakout confirmation past $0.224 and follow-through toward $0.25
• Sustained RSI overbought conditions as a momentum driver
• Impact of broader meme coin sentiment on DOGE flows
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
CD Analytics
CoinDesk Analytics is CoinDesk's AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk's editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk's AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk's approach to AI-generated content in our AI policy.
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