DOGE Drops 5% to $0.162 Amid Market Selloff and Nobitex Hack, $1.24B Volume Signals Volatility

Dogecoin (DOGE) is trading at $0.16230 on Binance, reflecting a 5.12% decline over the past 24 hours from an open of $0.17105, with 24-hour trading volume around $1.24 billion and a market cap of approximately $24.35 billion. The recent price drop is primarily attributed to broader bearish sentiment in the cryptocurrency market, compounded by security concerns following the reported hack of Iran’s Nobitex exchange, which included DOGE among the affected assets. Despite net outflows of $38 million from exchanges—typically a sign of accumulation by long-term holders—buyer demand has not been sufficient to support a price rebound. Technical patterns show DOGE consolidating near the $0.17 support level, with analysts watching for a potential reversal or further decline, while short-term volatility remains high and market sentiment cautious.