Dogecoin Drops 9% Amid Protocol Changes and Surging $1.95B Trading Volume After Musk Exit

Dogecoin is currently trading at $0.20498 on Binance, down 9.12% over the past 24 hours, with a 24-hour trading volume of $1.95 billion and a market capitalization of approximately $30.58 billion. The recent price decline follows a period of heightened volatility triggered by the U.S. State Department's confirmation of permanent Dogecoin protocol changes after Elon Musk’s exit from related activities, which initially caused a brief price spike and surge in trading activity; subsequent profit-taking and mixed broader market sentiment have contributed to the current downward movement despite continued strong retail interest and increased trading volumes.