DOGE Slides 2.36% as 200 Million Tokens Move to OKX and Dormant Holders Reactivate

Dogecoin (DOGE) is currently trading at $0.17382 on Binance, reflecting a 2.36% decline over the past 24 hours from an open of $0.17803. The recent price decrease is primarily attributed to increased short positions and open interest in the futures market, as well as a large transfer of 200 million DOGE to OKX, which may have contributed to selling pressure. Additionally, heightened activity from previously dormant DOGE addresses and a rise in the coin age consumed metric suggest renewed movement among long-term holders, potentially signaling distribution. Despite a rebound from recent lows and strong trading volumes exceeding $1 billion, DOGE remains below key resistance at $0.20, with ongoing regulatory uncertainty around crypto ETFs and generally cautious market sentiment weighing on price action. Currently, DOGE ranks 8th by market capitalization, with a circulating supply of approximately 149 billion and 24-hour trading volume between $1.31 billion and $1.98 billion.