DOGE Sees 3.5% Dip Amid Surge in Whale Activity and $2.8B Trading Volume

Dogecoin (DOGE) is currently trading at $0.23192 with a 24-hour trading volume between $2.73B and $2.83B, and a market capitalization of approximately $36.38B to $36.74B. Over the past 24 hours, DOGE has experienced a price decrease of 3.53%, moving from an open of $0.24040 to its current level.

The recent price decline follows a period of heightened activity, including a 300% increase in large transfers and a 12% rise in whale address concentration, as well as a significant growth in active addresses and holders. Despite positive sentiment and increased market participation, the short-term pullback appears to be a correction after recent gains and elevated trading activity, likely influenced by profit-taking and broader market consolidation. No specific negative news or events have been identified as the primary cause for the drop, suggesting the movement is part of normal volatility following a period of strong upward momentum.