Dogecoin News: DOGE Price Reaches $0.23 on Whale Buying, But Supply Zone Caps Breakout

Key Takeaways$200M in DOGE purchased in 24 hours as whales added over 1 billion tokens.$0.22 support held on multiple retests with volume-backed defense.$0.23 resistance triggered profit-taking and institutional selling into the close.Dogecoin (DOGE) climbed 4% over the past 24 hours, touching $0.23 on August 9 before late-session selling pressure pulled prices back to $0.227. The move was driven by aggressive whale accumulation, but upside momentum stalled at a well-defined supply zone above $0.23.Whales Accumulate Over 1 Billion DOGEOn-chain data showed over $200 million in DOGE accumulated in the past 24 hours, dominated by large-holder buying. The $0.22 level — tested multiple times during the session — held firm on heavy bid-side volume, attracting leveraged long positions from traders anticipating a breakout.Large-holder ownership is now nearing 50% of circulating supply, marking one of the highest whale concentration levels this year.Resistance at $0.23 Spurs Profit-TakingDOGE traded within a $0.01 range — from $0.22 to $0.23 — with 5% intraday volatility. The upside move was capped at $0.23 during the 14:00 UTC hour, where volume peaked at 780.9 million and sellers gained control.In the final trading hour, institutional flows flipped to net selling. DOGE dropped 1% from $0.23 to $0.227 between 02:39 and 03:38 UTC, triggered by an 11.4M sell order followed by a 24.1M spike in selling volume.Technical OutlookSupport: $0.22 remains the key defense level backed by strong early-session buying.Resistance: $0.23 supply zone reinforced by high-volume selling pressure.Breakout Trigger: Clearing the $0.23 level could open room toward $0.25 in the near term, but sustained whale accumulation is needed to absorb supply.What Traders Are WatchingWhether $0.22 support holds on the next retest amid continued whale activity.Potential breakout above $0.23 if supply is exhausted.Broader meme coin sentiment and risk-on flows in the crypto market.