DOGE Slides 3.57% as Mining Uncertainty and Market Shifts Test Investor Confidence

Dogecoin (DOGEUSDT) is trading at $0.15831 on Binance, down 3.57% over the past 24 hours from a 24h open of $0.16417. The price decline is primarily attributed to market-wide volatility and profit-taking after recent accumulation by large holders, as well as Dogecoin’s drop below key technical support levels near $0.17. Additional contributing factors include Dogecoin losing its position to TRON (TRX) in market capitalization, and regulatory uncertainty following Norway’s announcement to investigate a temporary ban on new power-intensive crypto mining operations, which may impact DOGE mining sentiment. Despite these pressures, Dogecoin maintains strong trading activity with a 24-hour volume of approximately $1.98 billion, robust user accumulation (97% buy ratio on major US exchanges), and remains the 8th largest cryptocurrency by market cap, indicating continued investor interest amid consolidation.