DOGE Drops 6.75% Amid Market Turbulence as 6.92 Billion Tokens Transferred and Trading Surges

Dogecoin (DOGEUSDT) experienced a 6.75% price decline over the past 24 hours, with the current price at $0.18316 according to Binance. The drop is primarily attributed to broad-based weakness in the cryptocurrency market following the latest U.S. Consumer Price Index (CPI) reading, which triggered declines across major assets including Bitcoin and Ethereum. Additional downward pressure stemmed from significant DOGE transfers, totaling 6.92 billion DOGE, indicating potential profit-taking and market fatigue. Social media activity, particularly the resolution of a public dispute between Elon Musk and Donald Trump, briefly caused a 3% rebound, but overall sentiment remains cautious amid ongoing regulatory uncertainty and macroeconomic influences. Despite the recent selloff, Dogecoin maintains high trading activity, with a 24-hour volume between $1.25–$1.98 billion and continued accumulation by large holders, while retaining its position as the eighth-largest cryptocurrency by market capitalization.