DOGE Faces 7% Drop After Major Holder Sells 170 Million Tokens

Dogecoin is currently trading at approximately $0.22801 with a 24-hour trading volume near $2.7 billion and a market capitalization of about $34 billion, ranking #8 by market cap; the price has declined by roughly 7% over the last 24 hours. The recent price drop appears to be linked to the sale of 170 million DOGE by a large holder on May 23, 2025, which likely contributed to increased selling pressure despite generally positive sentiment and bullish analyst outlooks reported in recent news, as well as ongoing high trading activity and community engagement.