DOGE Price Drops 2.59% Amid Fed Rate Decision, Derivatives Surge to $3.4B Open Interest

Dogecoin (DOGEUSDT) experienced a 2.59% price decline over the past 24 hours, currently trading at $0.23152 on Binance. This drop is primarily attributed to broader market volatility driven by a stronger U.S. dollar and the Federal Reserve's decision to maintain interest rates, prompting traders to reduce exposure to risk assets. The period saw notable derivatives activity, with open interest rising 6.6% to $3.4 billion and short liquidations totaling $8.2 million, indicating increased market engagement and volatility. Despite the recent decline, Dogecoin maintains high trading volume, with approximately $3.2–$3.37 billion traded in the last 24 hours, and remains among the top cryptocurrencies by market capitalization, supported by a surge in active addresses and sustained investor interest.