Dogecoin Drops to $0.20 as 310M Tokens Accumulated by Institutions

DOGE is trading at $0.20, down 1.83% in the last 24 hours after an 8% correction from recent highs. But rather than a mass exodus...

Written by: Arslan Butt • Saturday, August 2, 2025 • 1 min read

• Last updated: Saturday, August 2, 2025

Quick overview

DOGE is currently trading at $0.20, down 1.83% in the last 24 hours, but institutional wallets have purchased 310 million DOGE during this pullback.
The RSI is at 42.54, indicating oversold conditions that could trigger a short-term bounce.
Despite recent price drops, DOGE had a strong July with a 17.54% increase, driven by rising business usage and social media attention.
Traders should monitor the support at $0.19 and resistance at $0.29, with conservative investors advised to wait for a close above $0.22 before entering.

DOGE is trading at $0.20, down 1.83% in the last 24 hours after an 8% correction from recent highs. But rather than a mass exodus, it seems to have triggered buying. Institutional wallets bought 310 million DOGE during the pullback, so the smart money is confident.

This buying came as DOGE volume surged to 1.25 billion tokens, so the market is definitely interested. Dogecoin’s RSI is at 42.54, which is oversold territory. Historically this has been a short term bounce trigger.

Despite the drop, DOGE had a great July, up 17.54% as Bitcoin went past $120,000. DOGE also went up 15% on July 26 as business usage and social media attention picked up, including a nod from Elon Musk. But recent price action suggests consolidation rather than clear bullish continuation.

Mixed Signals

DOGE’s technicals are mixed.

RSI 42.54, could bounce
MACD Histogram -0.0068, bearish but shallow
Bollinger Band Width DOGE at 0.1943, near lower band
7-Day SMA $0.22, above current price
20-Day SMA $0.23, above current price
50-Day SMA $0.19, support

DOGE is near the lower Bollinger Band so could bounce, especially with the 50-day SMA at $0.19 as support. Below that and it could get ugly, possibly down to the 52-week low of $0.14.

Dogecoin Price Chart - Source: Tradingview — Dogecoin Price Chart – Source: Tradingview

Above that and DOGE faces resistance at $0.29, a big psychological and technical barrier. Above that and it’s a 45% move from here.DOGE is a buy or wait situation. High risk traders can enter at $0.20 with stop at $0.19 and target $0.22, the 7-day SMA. 1:1 risk reward setup for short term.

Key points:

Support: $0.19
Resistance: $0.29
ATR (Volatility): $0.02 or 10% of current price

Conservative investors may want to wait for a close above $0.22 with volume before entering. DOGE is range bound between $0.19-$0.22 so swing traders should watch volume and price action at these levels.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.