DOGE Drops 7.94% Amid Meme Coin Correction, Yet Trading Volume and DeFi Integration Surge

Dogecoin (DOGEUSDT) experienced a significant price decline of approximately 7.94% over the past 24 hours, with the current price at 0.17468 (down from a 24h open of 0.18974 on Binance). This drop is primarily attributed to a broader correction in the meme coin sector and increased profit-taking across the cryptocurrency market, as reported by multiple reputable sources. Technical analysis highlights that DOGE is currently one of the weaker major cryptocurrencies, facing resistance at the $0.25 level and testing critical support near $0.17, which has contributed to cautious trader sentiment and heightened volatility. Despite the recent downturn, Dogecoin maintains strong trading activity, with a 24-hour volume of $1.98 billion, a market cap of $29.68 billion, and high user engagement, as 97% of Coinbase users increased their DOGE holdings. The recent integration of Dogecoin with Coinbase's Base network, enabling its use in DeFi applications, underscores continued ecosystem development, though immediate price action remains driven by broader market trends and technical factors.