- Dogecoin’s price dropped by 50% in a flash crash, slipping from $0.22 to $0.11 before recovering to nearly $0.20.
- Trading volume soared to 4.6 billion tokens, roughly three times the daily average.
- The price collapse followed the announcement of a 100% tariff on Chinese imports by the Trump administration, which triggered a wider selloff in crypto and equities.
- Large holders (“whales”) and institutions accumulated over 2 billion DOGE as prices stabilized, and exchange outflows surpassed $23 million.
- 21Shares introduced its [institutional DOGE ETF (TDOG)](https://www.21shares.com/) during the heightened volatility, offering regulated exposure to Dogecoin.
Dogecoin underwent a sharp price drop late Friday, when its value plunged from $0.22 to $0.11 within minutes before rebounding to the $0.19–$0.20 range. The event occurred at 21:00 UTC on October 10 and was linked to broader market declines following the U.S. government’s announcement of steep tariffs on Chinese imports.
Trading during the session reached 4.6 billion DOGE, well above the daily average of 1.5 billion. The daily price range was $0.14, marking a 57% swing in value and representing the highest volatility for Dogecoin this year. Large-scale investors moved quickly, with exchange outflows topping $23 million and over 2 billion DOGE transferred into corporate wallets.
Shortly after the price sank to $0.11 on Bitfinex, liquidity providers intervened, allowing Dogecoin to stabilize near $0.19. Market reports indicated that the rapid selloff was caused by “leveraged liquidations and automated arbitrage failures, rather than a shift in Dogecoin’s underlying fundamentals.” As the market calmed, institutional buyers and ETF inflows supported the price recovery.
Technical data showed strong support forming at the $0.19–$0.20 level, while resistance remains at $0.22, the pre-crash high. Trading volume surged to more than double the 30-day average, signaling heavy turnover. Analysts observed a double-bottom pattern near $0.19, which is often seen as an accumulation signal. Indicators suggested that DOGE became oversold during the event, which could lead to short-term price stabilization.
The launch of the 21Shares DOGE ETF (TDOG) came as institutional buyers returned to the market. With large holders acquiring a significant share of DOGE and ETF interest growing, traders are watching whether the $0.19 support level holds or if further volatility will ensue. Technical signals point to a possible mean reversion, but continued selling or another break below $0.19 could indicate more downside ahead.
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