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By Shaurya Malwa, CD Analytics
Jul 5, 2025, 5:45 a.m.
- Dogecoin stabilized at 16.3 cents after a 5% intraday drop amid broader market volatility.
- Despite the decline, DOGE showed resilience with trading volume suggesting possible accumulation.
- Analysts are watching for a base formation as DOGE consolidates near previous levels, with a hold above $0.160 potentially leading to a stronger move.
Dogecoin stabilized Saturday after a steep intraday decline, bouncing off a low of 16.1 cents and closing near 16.3 cents. The 5% drop came amid broader market volatility driven by macroeconomic concerns and shifting investor sentiment.
Despite the downturn, DOGE showed signs of strength, with volume at support levels well above average, suggesting possible accumulation as the market seeks direction.
STORY CONTINUES BELOW
- Global markets continue to absorb a wave of economic pressure from ongoing trade disputes and policy uncertainty.
- President Trump’s renewed tariff threats and unresolved fiscal debates are keeping risk assets — including cryptocurrencies — on edge. While memecoins like DOGE tend to amplify these swings, Thursday’s price action also showed signs of resilience.
- Dogecoin held firm above $0.162 with buyers stepping in at elevated volume, a sign that some participants may view current levels as a reasonable entry point.
- Technical analysts are watching for confirmation of a base, with DOGE consolidating near familiar levels from previous weeks.
- A continued hold above $0.160 could set the stage for a stronger move if broader sentiment improves.
• DOGE dropped 5.36% from $0.170 to $0.161 between July 4 05:00 and July 5 04:00, closing at $0.163.
• A key bounce occurred at $0.162 with trading volume reaching 452M during the 16:00–17:00 hour—more than 2x the 24-hour average.
• Price action tightened into a narrow band between $0.162 and $0.164, forming a potential short-term base.
• A V-shaped recovery played out from 04:00 to 04:59 on July 5, with price climbing from $0.163 to $0.164.
• Volume surged to 7.3M DOGE at 04:29, marking the session’s strongest recovery attempt.
• Horizontal support at $0.163 has been reestablished, aligning with the prior week’s consolidation zone.
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.
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.
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