DOGE price hits demand zone after security fears spark heavy selling across futures markets
Dogecoin faced sharp selling pressure this week after concerns around potential 51% attack scenarios linked to Qubic’s network activity unsettled traders. The fears, combined with a broader decline in the crypto market, drove DOGE down to $0.00270, testing a major support zone.
According to derivatives data, futures open interest dropped 8% in the past 24 hours, highlighting a wave of liquidations and risk-off positioning from leveraged traders. Despite this, on-chain trackers report that large holders continue to accumulate tokens during the correction.
“Security concerns have amplified volatility in DOGE, but it’s important to note that long-term whale accumulation remains intact,” According to BITX market strategist. “This divergence suggests that while short-term traders are exiting, deep-pocketed investors may be treating this as a buying opportunity.”
From a technical perspective, the $0.00265–$0.00275 support area has been a critical demand zone. The chart shows that DOGE has bounced from this level multiple times, reinforcing its significance. Immediate resistance sits near $0.00320, followed by a heavier ceiling around $0.00370. A breakout above these levels would confirm bullish momentum returning to the market.
Despite the pullback, Dogecoin’s long-term narrative remains supported by active development and ongoing community strength. The key question for traders now is whether security concerns will fade quickly or continue to pressure sentiment.
In summary, Dogecoin is at a make-or-break level, with futures positioning showing nervousness while whales quietly add exposure. The defense of the $0.00270 zone will likely determine whether the next move is a recovery toward $0.00370 or a deeper slide.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.