Dogecoin's '1-2 Pattern' Sets Stage for Potential Breakout to $0.28

Dogecoin experienced a sharp overnight selloff, dropping from $0.27 to $0.25 as institutional traders liquidated positions on record volume of 2.15 billion tokens, far surpassing the 24-hour average of 344.8 million.

The midnight crash broke through key support levels and established new resistance zones, leaving DOGE consolidating around $0.25 as traders watch for potential recovery or further downside.

Market Context

DOGE fell 7% over the 24-hour period ending September 22, retreating from $0.27 to $0.25.
The overnight decline from $0.26 to $0.25 occurred on record 2.15B volume, signaling heavy institutional activity.
Analysts noted a recurring “1-2 pattern”, historically associated with DOGE breakouts toward $0.28–$0.30.

Price Action Summary

Intraday range: $0.02 (≈8%), between a high of $0.27 and a low of $0.25.
Resistance strengthened near $0.27 following repeated rejections.
Institutional support emerged around $0.25, anchoring DOGE above this level during recovery attempts.
In the final hour (01:14–02:13), DOGE traded in a tight $0.25–$0.25 channel, with volume spikes at 01:25 and 02:03 indicating early accumulation.

Technical Analysis

Record 2.15B tokens traded overnight confirms strong institutional participation.
Support at $0.25 is critical; a break could open the path toward $0.23.
Resistance sits at $0.27, with potential upside targets at $0.28–$0.30 if buying resumes.
Volume spikes during recovery attempts suggest possible bottoming interest.
Technicians identify a recurring “1-2 pattern”, consistent with prior DOGE rally structures.

Traders’ Focus

Can $0.25 hold as durable support after record liquidation flows?
Will institutional positioning near $0.28–$0.30 fuel a breakout if recovery gains momentum?
Follow-through volumes in upcoming sessions to confirm whether accumulation or further distribution dominates.
Market sentiment influenced by ETF delays and ongoing regulatory uncertainty.

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