DOGE Sees $38M Exchange Outflows Amid 4% Drop—Strong On-Chain Activity Signals Potential Rebound

Dogecoin (DOGE) is trading at $0.16331 on Binance, down 4.01% over the past 24 hours from an open of $0.17013. The recent price decline is attributed to broader risk-off sentiment in the cryptocurrency market, partly driven by geopolitical tensions in the Middle East and cautious global central bank policies, which led to a 7.5% drop earlier in the week. Despite this, DOGE has shown strong on-chain activity with over 10.55 billion DOGE transferred in the past day and net outflows of over $38 million from exchanges, indicating some holders are withdrawing DOGE, a potential bullish signal if sustained. Technical analysis highlights DOGE forming a base near $0.17, with indicators such as MACD and RSI suggesting possible bullish momentum, though confirmation of a reversal is still pending. Trading volume in the past 24 hours is approximately $1.24 billion, and DOGE currently ranks ninth in market capitalization after being surpassed by TRX. Overall, Dogecoin remains in a consolidation phase with significant trading activity and attention on key support and resistance levels.