DOGE Token Faces 6.58% Drop Amid High Trading Volume and ETF Speculation on Binance

Dogecoin (DOGEUSDT) experienced notable volatility over the past 24 hours, with its price declining by 6.58% to $0.19716 on Binance. The price drop follows a period of heightened trading activity and increased attention, driven by technical breakouts above the 200-day simple moving average and a three-month resistance level, as well as speculation around potential bullish chart patterns such as the "megaphone" and "cup and handle" formations. Renewed institutional interest and broader market rallies earlier in the week contributed to upward momentum, but recent fluctuations reflect ongoing market uncertainty and profit-taking after significant gains.

Currently, Dogecoin maintains a strong trading volume, reported at approximately $3.5–$3.8 billion in the last 24 hours, with a market capitalization near $29 billion and a circulating supply of about 150.068 billion coins. The asset remains a focal point in the crypto community due to continued discussions on potential ETF approvals and its inclusion in major events, such as Binance's 8th anniversary celebration.