DOGE Drops 4.49% After 44% Rally as Large Holders Accumulate 300M DOGE Amid Market Volatility

Dogecoin (DOGEUSDT) experienced a 4.49% price decline over the past 24 hours, with the current price at 0.22749 USDT on Binance. The recent price drop is attributed to profit-taking following a strong monthly rally of 44%, as well as increased volatility driven by large holders accumulating over 300 million DOGE and shifting trading volumes, such as Pudgy Penguins (PENGU) surpassing DOGE in 24-hour volume on Upbit. Additional factors include broader market movements, with Bitcoin's rally fueling memecoin activity and Dogecoin briefly surging above 0.240 before facing resistance and consolidating. Dogecoin remains among the top 10 cryptocurrencies by market capitalization, with active trading volumes and continued attention from both institutional participants and influential figures.