DOGE Holds Top 10 Rank Despite 3% Drop as Bullish Traders Outnumber Shorts 2:1

Dogecoin (DOGE) is currently trading at approximately $0.22747, with a 24-hour volume around $2.1–$2.4 billion and a market capitalization near $34.19 billion, ranking #8 by market cap. Over the past 24 hours, DOGE has declined by about 3.05%, trading between $0.2238 and $0.2304, amid relatively low trading activity and market consolidation.

The recent price drop is attributed to broader cryptocurrency market volatility, described as a "weekend bloodbath" affecting several major altcoins. Despite a recent rally earlier in the week and increased open interest, downward pressure has persisted, likely driven by overall negative sentiment and profit-taking across the market. Social media data shows a long/short ratio of 2.23, with 69% of traders holding long positions, indicating bullish sentiment despite the current decline.