DOGE Drops 3.33% Amid Spot ETF Speculation and Strong Trading—Is Accumulation on the Horizon?

Dogecoin (DOGEUSDT) experienced a 3.33% price decline over the past 24 hours, closing at $0.15911 from a 24-hour open of $0.16459. This downward movement is attributed to recent market volatility amid ongoing speculation about a potential Spot Dogecoin ETF and mixed sentiment following reports of both downward pressure and bullish catalysts, such as possible integration for payments on social media platform X. Despite the short-term decline, technical indicators such as a positive MACD and rising RSI suggest reduced selling pressure and potential for accumulation. Trading activity remains strong, with a 24-hour volume of 697.32 million DOGE and 115.86 million USDT, and Dogecoin continues to maintain a substantial market capitalization near $24 billion.