DOGE Price Drops 4.86% Amid Meme Coin Sell-Off, ETF Speculation, and $1.84B Futures Surge

Dogecoin (DOGE) experienced a 4.86% price decline over the past 24 hours on Binance, falling from a 24h open of $0.18739 to $0.17829. This drop is primarily attributed to a broader correction in the meme coin sector, profit-taking following recent rallies, and negative sentiment after the release of US CPI data, which impacted the wider crypto market. Additional volatility was observed due to speculation around a potential Dogecoin ETF and increased derivatives activity, as open interest in DOGE futures rose to $1.84 billion. Despite the price decrease, trading volume remains elevated, and technical indicators suggest possible accumulation by large holders, with the weekly chart showing a rounding bottom pattern that could indicate a future trend reversal. Dogecoin’s current market cap is approximately $26 billion, and 24-hour trading volume stands at $1.8 billion, reflecting sustained market engagement amid recent price fluctuations.