DOGE Token Sees $8.2M Whale Inflows and 24% Futures Surge Amid Market Downturn

Dogecoin (DOGEUSDT) is currently trading at 0.16731 USDT, reflecting a 2.13% decline over the past 24 hours, with a 24-hour opening price of 0.17095 USDT. The recent price decrease is primarily attributed to strong bearish sentiment in the broader cryptocurrency market, as highlighted by a nearly 6% drop to a low of 0.16128 USDT and ongoing concerns about DOGE holding key support levels near $0.16. Despite this decline, whale accumulation has increased significantly, with net inflows of $8.2 million and a 112% rise in large holder activity, while open interest in DOGEUSDT futures climbed 24% and funding rates remain positive at 0.0026%. Trading volume has also risen, with approximately $1.43 billion exchanged in the last 24 hours, indicating heightened market participation amid volatility. Dogecoin maintains a market capitalization between $25.3 billion and $26.04 billion, ranking it as the 9th largest cryptocurrency, with a circulating supply of around 150 billion tokens.