DOGE Token Sees 2% Dip Amid Surging Volumes and U.S. GENIUS Act Impact

Dogecoin (DOGEUSDT) is currently trading at $0.26553 on Binance, reflecting a 2.00% decrease over the past 24 hours from an opening price of $0.27094. The recent price decline follows a period of heightened volatility and significant trading activity, with 24-hour volumes reported between $5.98 billion and $20 billion and a market capitalization ranging from $38.03 billion to $41.36 billion. The price movement appears to be influenced by several recent developments, including increased open interest in Dogecoin derivatives, higher funding rates, and a surge in trading volumes following the passage of the U.S. GENIUS Act. Additional factors contributing to recent volatility include large treasury purchases by institutional investors and ongoing bullish sentiment from analysts, although the latest 24-hour period has seen a modest pullback after last week's substantial gains.