DOGE Dips 7.44% After Rally: Profit-Taking and Volatility Hit $28.67B Market Cap

Dogecoin (DOGE) has experienced notable volatility in the past 24 hours, with the price declining by 7.44% to $0.19106 on Binance. This downward movement follows a period of strong gains driven by anticipation around "Crypto Week" on Capitol Hill and potential new cryptocurrency legislation, which previously fueled a surge in trading activity and a 20.73% weekly increase. The recent price dip appears to be influenced by profit-taking from early investors after the rally, as well as mixed market sentiment regarding the sustainability of meme coin momentum.

Currently, Dogecoin's market capitalization is approximately $28.67 billion, with a 24-hour trading volume of around $2.14 billion and a circulating supply of 150.10 billion DOGE. Technical indicators show high liquidity and volume, with the daily RSI near 67 and a positive MACD histogram, reflecting active trading and ongoing volatility.