DOGE Token Slides 7.4% Amid $1B Crypto Liquidations After Week of Bullish Accumulation

Dogecoin (DOGEUSDT) experienced a 7.40% price decline over the past 24 hours, with the current price at $0.19726 according to Binance data. This drop follows a broader short liquidation event in the cryptocurrency market exceeding $1 billion in the past week and a recent pullback in Bitcoin prices, both of which have contributed to increased volatility and downward pressure on altcoins like Dogecoin. Despite this, Dogecoin saw notable bullish activity earlier in the week, including large holder accumulation of over 1.14 billion DOGE and open interest in derivatives reaching $1.8 billion, which had previously driven the price up by over 21% in the last seven days. Market sentiment remains active, with DOGE ranking 8th by market capitalization and maintaining high trading volumes, but short-term price action reflects broader market corrections and profit-taking after recent gains.