DOGE Drops 2.97% as Bearish Signals and Market Uncertainty Outweigh Rising On-Chain Activity

Dogecoin (DOGE) declined by approximately 2.97% over the past 24 hours, with the price falling from 0.16770 to 0.16272 on Binance. This price drop is primarily attributed to bearish technical signals, including a break below the 200-day EMA and negative momentum on the MACD, as well as ongoing market uncertainty despite increased on-chain activity. While whale accumulation and a 39% rise in active addresses indicate growing network engagement, these factors have not offset broader selling pressure and cautious sentiment. Additional volatility is expected as DOGE trades near key support levels, with speculation about a potential ETF and integration into new platforms providing medium-term interest but not reversing the current downtrend. Trading volume remains robust at $1.19 billion, but the overall trend is bearish as technical and sentiment-driven factors continue to weigh on price action.