DOGE Faces 3.33% Drop Amid $35M Outflows and Market Volatility After Nobitex Cyberattack

Dogecoin (DOGE) is currently trading at $0.16376 on Binance, reflecting a 3.33% decline over the past 24 hours from a 24h open of $0.16940. The recent price drop is attributed to a combination of bearish market sentiment highlighted by reports suggesting DOGE is "on the verge of plummeting," significant net outflows from exchanges totaling over $35 million to self-custody wallets, and the aftermath of a cyberattack on Iran's Nobitex exchange, which may have contributed to increased volatility and caution among traders. Despite a 15% gain earlier in the week and ongoing discussions about potential bullish breakouts, the market remains under short-term pressure, with trading volume ranging between $1.24 billion and $37.46 billion and a circulating supply of approximately 144.39 billion DOGE. Overall, DOGE is at a critical juncture as traders monitor technical and on-chain signals for indications of either a reversal or continued downward movement.