DOGE Drops 3.97% Amid $127M Net Losses as Traders React to Volatile Market Signals

Dogecoin (DOGEUSDT) experienced a 3.97% price decline over the past 24 hours, with the price dropping from 0.17372 to 0.16682 USDT according to Binance data. This negative movement is attributed to heightened market volatility, as traders reacted to mixed technical signals and fluctuating sentiment. Despite a golden cross on the hourly chart, which typically signals bullish momentum, the market saw net realized losses of $127 million, indicating that more investors sold at a loss than a profit. Caution among traders, following a bearish rejection at the $0.165 resistance and uncertainty around holding key support levels, contributed to the downside pressure.

Currently, Dogecoin is ranked #9 by market capitalization with a circulating supply of approximately 149.9 billion tokens and a market cap near $25 billion. The 24-hour trading volume has ranged between $1.15 billion and $1.43 billion, reflecting active trading and continued volatility.