DOGE Drops 4.98% to $0.194 Amid Market Correction, High Open Interest Signals Ongoing Whale Activity

Dogecoin (DOGEUSDT) experienced a 4.98% price decrease over the past 24 hours, currently trading at $0.19415 according to Binance data. The recent price decline is primarily attributed to heightened selling pressure following a rejection at the $0.206 resistance level, as well as a broader market correction after a period of strong gains earlier in the month. Technical analysis indicates mixed sentiment, with some traders highlighting the importance of the $0.19 support level for potential bullish continuation, while others note the risk of further downside if this support fails. Futures open interest remains high at approximately $1.5 billion, and large holders have been increasing accumulation, suggesting ongoing institutional and whale interest. Trading volume remains robust, with the 24-hour volume ranging between $2.16 billion and $6.39 billion, and Dogecoin maintains its position as the 8th largest cryptocurrency by market capitalization, around $29 billion. Key levels to watch are immediate support at $0.18858 and resistance near $0.207.