DOGE Price Drops 6.61% Amid Bearish Signals, High Trading Volume, and Strong Retail Buying

Dogecoin (DOGE) experienced a notable price decline of 6.61% over the past 24 hours, with the current price at $0.17570 (Binance data), down from a 24h open of $0.18814. This drop is primarily attributed to increased bearish sentiment following recent technical analysis indicating DOGE is at risk of breaking below the key $0.18 support level, which could trigger further downside toward $0.14. Additional contributing factors include a broader pullback in the meme coin sector, increased long liquidations, and a shift in daily RSI to the downside, as highlighted in recent news reports. Despite the price drop, market activity remains strong with a 24-hour trading volume of approximately $1.9 billion and continued accumulation by large holders, while retail investor sentiment remains bullish, as 97% of Coinbase users are buying DOGE. Dogecoin currently ranks #9 by market capitalization, with a circulating supply of approximately 149 billion DOGE, and the Fear & Greed Index indicates "Greed" at 57, reflecting ongoing volatility and heightened investor interest.