DOGE Drops 6.27% Amid Market Caution; ETF Approval and Fed Policy Loom as Key Catalysts

Dogecoin (DOGEUSDT) experienced a 6.27% decline over the past 24 hours, with the current price at $0.14804 on Binance, down from a 24h open of $0.15794. The price drop is attributed to a combination of recent oversold market conditions, cautious sentiment following a lack of strong bullish response, and broader underperformance relative to the crypto market. Despite ongoing high trading volumes ($1.82B–$2.09B) and significant support at $0.17, the absence of immediate positive catalysts has weighed on price action. However, market participants are closely watching potential SEC approval of a spot Dogecoin ETF—backed by filings from major asset managers and an 80%–90% approval probability—as well as upcoming Federal Reserve policy announcements, both of which could influence future price movements. Dogecoin remains a top-10 cryptocurrency by market cap ($22.33B–$22.49B) with a circulating supply of 149.79 billion DOGE, but is currently trading nearly 80% below its all-time high.