DOGE Sees 500M Tokens Traded Amid 2% Dip, Analyst Warns of 30% Downside Risk

Dogecoin (DOGE) is currently trading at $0.17245 on Binance, reflecting a 2.12% decrease over the past 24 hours from an open of $0.17619. The recent price decline is primarily attributed to heightened volatility following analyst warnings of a potential 30% downside risk if key support levels fail, as well as broader market profit-taking and a 7% drop earlier in the week after a brief rally. Despite these short-term headwinds, DOGE maintains high trading volumes, with over 500 million DOGE traded in the last 24 hours and strong on-chain activity, including significant accumulation by large holders. The asset remains one of the most actively traded cryptocurrencies, ranking in the top 10 by market capitalization, and has shown a 15.6% price increase over the past week, indicating ongoing market interest and liquidity despite recent volatility.