DOGE Sees $132M in Losses as Panic Selling Drives 2.5% Drop and Volume Surge

Dogecoin (DOGE/USDT) experienced a 2.50% price decline over the past 24 hours, with the current price at 0.16109 USDT according to Binance data. The recent price drop is primarily attributed to significant realized losses by holders, totaling approximately $132 million in a single day, which has led to increased withdrawal volumes and signs of panic selling. This selling pressure contrasts with other major cryptocurrencies, such as Bitcoin, which saw realized profits during the same period. Despite some analyst projections of a potential rebound, Dogecoin remains in a consolidation phase, with large holders now controlling 18.3% of the circulating supply and trading volumes showing a notable increase. Dogecoin is currently ranked #9 by market capitalization, with a circulating supply near 150 billion DOGE and a 24-hour trading volume between $792 million and $1.10 billion.