DOGE Token Sees 2.4% Dip Amid Profit-Taking, Whale Accumulation, and U.S. Regulatory Shifts

Dogecoin (DOGEUSDT) is currently trading at $0.26588 on Binance, reflecting a 2.40% decrease over the past 24 hours from a 24h open of $0.27243. The recent price decline can be attributed to profit-taking following a period of heightened volatility and a significant rally earlier in the week, as well as technical indicators showing overbought conditions. Despite bullish sentiment from large-scale purchases, such as Bit Origin's acquisition of 40.54 million DOGE and ongoing whale accumulation, short-term market correction pressures have emerged. Regulatory developments in the U.S., including the passage of the STABLE Act and discussions around cryptocurrency innovation exemptions, have contributed to increased market activity and uncertainty. Dogecoin maintains a market capitalization near $40 billion, with a circulating supply of approximately 150.2 billion DOGE and 24-hour trading volumes ranging from $6.13 billion to $19.88 billion, underscoring continued strong interest and liquidity in the asset.