DOGE Token Sees 5% Price Drop Amid $1B Trading Surge and 150M Token Whale Transfer

Dogecoin (DOGEUSDT) experienced a 5.13% price decline over the past 24 hours, with the current price at $0.17093 on Binance, down from a 24h open of $0.18018. The price drop is primarily attributed to broader market pressure and volatility, as highlighted by recent news of DOGE testing a key support level and a 22% pullback reported in major crypto news outlets. Despite this, Binance reported an 18% increase in DOGEUSDT trading volume, with daily turnover exceeding $1 billion, indicating heightened trading activity possibly driven by whale movements, as evidenced by a 150 million DOGE on-chain transfer. Market sentiment remains mixed; while technical indicators briefly turned positive after a bounce at the $0.17 support, overall sentiment is still cautious due to ongoing regulatory uncertainty and competition from emerging meme coins. DOGE remains ranked among the top 10 cryptocurrencies by market cap, with strong short-term investor interest and robust trading volumes.