DOGE Drops 2.43% Amid Market Turmoil Despite $1B Volume and Layer 2 Upgrade News

Dogecoin (DOGE) experienced a 2.43% decline over the past 24 hours, with the price falling from a 24h open of $0.17110 to $0.16694, according to Binance. The price drop is primarily attributed to broader market pressures stemming from geopolitical tensions and macroeconomic uncertainties, including central bank actions, which triggered a risk-off sentiment and a sharp selloff across the crypto sector. Despite a brief rebound from support near $0.164, DOGE remains in a downtrend, facing resistance below $0.176 and limited by cautious market sentiment. Trading volume was robust, with approximately $1.06 billion exchanged in the last 24 hours, and the circulating supply is estimated between 144 and 149 billion DOGE, resulting in a market cap of roughly $24.5–$27 billion. While the Dogecoin Foundation's announcement of upcoming Layer 2 integration and smart contract capabilities is a notable development, the current market environment continues to weigh on immediate price recovery.