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DOGE Suffers 50% Flash Crash Before Stabilizing Near $0.19

coindesk.com

6 hour ago

DOGE Suffers 50% Flash Crash Before Stabilizing Near $0.19

Dogecoin collapsed 50% late Friday in a rare flash crash that saw price plunge from $0.22 to $0.11 within minutes before rebounding to the $0.19–$0.20 zone. What to Know• DOGE dropped from $0.22 to $0.11 at 21:00 UTC on Oct 10 — a 50% flash crash followed by recovery to $0.19–$0.20.• Total intraday range = $0.14 (≈57% volatility), with 4.6 billion tokens traded versus 1.5 billion daily average.• Trump administration’s 100% tariff announcement on Chinese imports triggered broader crypto risk-off.• Late-session trading showed whales re-accumulating; exchange outflows topped $23 million and 2 billion DOGE were added to corporate wallets.• 21Shares launched its institutional DOGE ETF (TDOG), offering the first regulated exposure to the asset.News BackgroundThe move came hours after President Trump’s tariff escalation sparked a cross-market selloff, hitting equities and digital assets alike. DOGE briefly traded as low as $0.11 on Bitfinex before stabilizing above $0.19 as liquidity desks intervened. Market chatter tied the collapse to leveraged liquidations and automated cross-venue arb failures rather than fundamental deterioration. Institutional demand resurfaced around $0.19, aided by ETF flows and whale bids rebuilding long exposure.Price Action Summary• Flash crash at 21:00 UTC: DOGE $0.22 → $0.11 (-50%) on 4.6 billion volume.• Recovery to $0.19–$0.20 within hours as whales absorbed supply.• Follow-through selling seen at 11:18 UTC Oct 11 ($0.1935 → $0.1916, -4%), volume 32 million.• Session range of $0.14 (57%) marks year-high volatility for DOGE.• Final hour consolidation near $0.193 signals cool-down but no trend reversal yet.Technical Analysis• Support – Formed at $0.19–$0.20 as institutional flows absorbed panic selling.• Resistance – Immediate barrier at $0.22 pre-crash high; above that, next targets $0.25 and $0.30.• Volume – Peak 4.6 billion vs 30-day average 2.0 billion; capitulation-grade turnover.• Pattern – Double-bottom near $0.19 may mark accumulation zone.• Momentum – Oversold RSI and expanding Bollinger bands suggest short-term mean reversion.What Traders Are Watching• Will $0.19 hold as a reliable support floor or invite another liquidation wave?• Can ETF flows and institutional accumulation offset broader macro risk?• Whales adding ≈2 billion DOGE — signal of value buying or exit liquidity trap?• Volatility regimes post-tariff shock — does DOGE return to 0.25–0.30 range or languish below 0.20?• Confirmation of triangle rebuild above $0.22 would invalidate bearish structure.

https://www.coindesk.com/markets/2025/10/11/doge-suffers-50-flash-crash-before-stabilizing-near-usd0-19?utm_source=CryptoNews&utm_medium=app