Dogecoin Slides 7.77% Despite ETF Buzz and Strong Retail Buying Amid Market Volatility

Dogecoin is currently trading at $0.20686 with a 24-hour price decline of 7.77%, accompanied by strong trading volume between $1.53 and $1.98 billion and a market capitalization of approximately $32.73 billion, ranking it #8 by market cap. The recent price drop follows a period of heightened optimism driven by news of 21Shares filing for a spot Dogecoin ETF, increased DeFi engagement among DOGE holders, and renewed community interest, including speculation about potential use in Elon Musk’s ventures. Despite these positive developments and strong retail accumulation (with 97% of Coinbase users net buying DOGE), the market has seen short-term selling pressure, likely due to profit-taking after the recent memecoin rally and broader volatility in the cryptocurrency sector, resulting in the observed price correction over the past 24 hours.