DOGE Dips 4.93% Amid Volatility as Elon Musk Shifts Focus, Trading Volume Surges Past $1.25B

Dogecoin (DOGE) experienced a 4.93% price decline over the past 24 hours, with the price falling from 0.17839 to 0.16960 on Binance. This drop is primarily attributed to heightened market volatility following several key events: a 22% intraday price drop reported on June 17, increased regulatory uncertainty, and market sentiment shifts after Elon Musk publicly distanced himself from Dogecoin for AI-related reasons. Despite the price decrease, DOGE maintains strong trading activity, with 24-hour volumes between $1.25 billion and $1.98 billion and a market capitalization ranging from $21.74 billion to $27 billion. Dogecoin remains ranked among the top 10 cryptocurrencies by market cap, supported by high open interest in futures ($1.83 billion) and continued retail engagement, though short-term sentiment remains cautious amid ongoing volatility and external influences.