DOGE Drops 4.36% Amid $1.7B Volume Surge as Whale Buys 310M Tokens and Market Eyes Key Support

Dogecoin (DOGEUSDT) experienced a 4.36% price decline over the past 24 hours, with the current price at $0.19872 according to Binance data. This downward movement is attributed to ongoing market volatility, recent profit-taking following a brief recovery, and persistent selling pressure despite notable whale accumulation, including a large purchase of 310 million DOGE in the past week. Technical analysis highlights key support at the 0.5 Fibonacci retracement and resistance near $0.21, while declining futures open interest and low funding rates have contributed to a cautious market sentiment. Over the last 24 hours, Dogecoin recorded a trading volume of approximately $1.749 billion and remains ranked #9 by market capitalization, with investors closely monitoring support and resistance levels amid heightened market activity.