Dogecoin (DOGE) Price: Whales Buy the Dip in August Despite Qubic’s 51% Attack Threat

TLDR

• Dogecoin recovered from $0.21 lows to $0.22 after a late-session surge in trading volume
• Whale investors accumulated over 680 million DOGE in August, offsetting retail selling pressure
• The token faces ongoing security concerns from Qubic’s potential 51% attack threat
• Technical analysis shows a descending triangle pattern that could trigger a 40% price swing
• Long-term targets remain between $0.70 and $1.30 despite recent monthly decline of 22%

Dogecoin price traded at $0.22 in August 2025 after recovering from intraday lows of $0.21. The token completed a V-shaped recovery during late trading hours on August 20.

Trading volume spiked to 9.29 million in the final hour of the session. This represented institutional-sized flows that drove the 5% gain over 24 hours.

The recovery came despite ongoing security concerns. Reports tied to Qubic’s potential 51% attack have spooked retail traders throughout August.

Retail selling pressure has been offset by whale accumulation. On-chain data shows whale investors accumulated more than 680 million DOGE during August.

This accumulation occurred despite the security risks. Large holders positioned themselves as smaller traders sold their holdings.

Whale Activity Counters Retail Selling

The whale accumulation pattern has been consistent throughout the month. Over 680 million DOGE changed hands to larger wallet addresses.

This buying activity happened while retail traders reduced their positions. The security concerns from Qubic’s attack threat drove the retail selling.

Broader market conditions have been mixed. Bitcoin and Ethereum consolidated near highs while memecoins showed outsized volatility.

The late-session volume burst confirmed institutional participation. Sustained turnover reached 6.8 million per minute during the final hour.

Key support held at $0.21 during the mid-session test. The level was tested around 13:00 UTC before the sharp reversal began.

Resistance emerged at $0.22, creating a tight $0.01 trading range. A breakout was triggered at 04:31 UTC with the volume spike.

Dogecoin Price Prediction

The current price action forms a descending triangle pattern. This structure developed as lower highs pressed against horizontal support near $0.22.

Analysts expect this compression to trigger a sharp move of around 40%. The triangle pattern often precedes strong price swings in either direction.

If buyers regain momentum, Dogecoin could revisit $0.29. A failure to hold current support risks a decline toward $0.19.

The 12-hour chart shows Fibonacci retracement levels shaping sentiment. The 0.5 retracement near $0.22 currently provides support.

This level often acts as a pivot during corrections. Resistance appears near the 0.618 retracement around $0.23.

Bollinger Bands and MACD indicators suggest potential volatility ahead. These tools point to the market preparing for another strong move.

Volume trends support this expectation. Muted activity often reflects hesitation but creates conditions for sharp price discovery when combined with compression.

Long-term charts show a series of higher lows since early 2025. This pattern indicates the uptrend remains intact despite recent pressure.

Market analyst Shan Specter noted that Dogecoin maintains a constructive structure. The consolidation phase could act as a reset before further expansion.

Specter projects cycle targets between $0.70 and $1.30. Consistent support from entrepreneur Elon Musk sustains long-term investor interest.

Traders are watching whether $0.22 can flip from resistance into support. This would open a path toward the $0.23-$0.24 range.

The strength of follow-through buying after the late-session volume burst will confirm if the V-shaped recovery continues.

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