DOGE Token Drops 6.94% Amid $1B Trading Surge as Key Support Level Tested

Dogecoin (DOGEUSDT) experienced a significant price decline of 6.94% over the past 24 hours, with the current price at $0.16659 according to Binance. This drop is primarily attributed to a broader market downturn and the testing of a key support level, which triggered a 22% daily drop and substantial liquidations among long traders. Increased profit-taking activity and heightened trading volume—exceeding $1 billion—reflect intensified speculative trading and selling pressure as holders realized gains. Despite the recent correction, DOGE remains highly active, ranking 8th by market capitalization, with a circulating supply of approximately 149 billion DOGE and a 24-hour trading range between $0.165 and $0.176.