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DOGE Suffers 50% Flash Crash Before Stabilizing Near $0.19
Yahoo Finance· 2025-10-11 13:17
Core Insights - Dogecoin (DOGE) experienced a significant flash crash, dropping 50% from $0.22 to $0.11 before recovering to the $0.19–$0.20 range [2][4] Price Action Summary - The flash crash occurred at 21:00 UTC on October 10, with a total intraday range of $0.14, indicating approximately 57% volatility, and a trading volume of 4.6 billion tokens compared to a daily average of 1.5 billion [2][6] - Following the crash, DOGE rebounded to the $0.19–$0.20 range as whales re-accumulated, with exchange outflows exceeding $23 million and approximately 2 billion DOGE added to corporate wallets [2][4] - Technical analysis indicates a support level formed at $0.19–$0.20, with resistance at the pre-crash high of $0.22, and potential targets of $0.25 and $0.30 above that [6] - The trading pattern suggests a double-bottom near $0.19, which may indicate an accumulation zone, while oversold RSI and expanding Bollinger bands point to a possible short-term mean reversion [6] Market Context - The flash crash was linked to broader market selloff triggered by the Trump administration's announcement of a 100% tariff on Chinese imports, affecting both equities and digital assets [4] - Market chatter suggested that the collapse was more related to leveraged liquidations and automated trading failures rather than any fundamental deterioration of DOGE [4]