DOGE Drops 10.56% Amid Whale Accumulation, Bit Origin Buy, and Major Technical Upgrades

Dogecoin (DOGEUSDT) experienced a significant price decline of 10.56% over the past 24 hours, currently trading at 0.23527 USDT on Binance. The recent price drop follows a period of heightened volatility, despite positive developments such as Bit Origin's acquisition of 40.54 million DOGE as part of a $500 million treasury strategy and ongoing whale accumulation totaling over 1.08 billion DOGE in the past week. Technical upgrade proposals, including OP_CHECKZKP for zk-rollup compatibility and discussions around an Ethereum bridge, have increased attention on Dogecoin's potential utility expansion. However, the introduction of these proposals and the preceding strong price rally—up 29% in the past week and 69% over the last month—appear to have led to profit-taking and increased selling pressure at resistance levels, contributing to the current downtrend. Trading activity remains robust, with 24-hour volume ranging from $3.94 billion to $12.28 billion and a market capitalization near $36 billion, reflecting sustained market interest despite the recent correction.