DOGE Price Drops 5.52% After $200 Million Whale Buy Sparks Surge in Network Activity

Dogecoin (DOGEUSDT) experienced a 5.52% price decline over the past 24 hours, with the current price at 0.22594 USDT according to Binance data. The recent price movement is primarily attributed to profit-taking following a surge in whale accumulation, where large wallets acquired over 1 billion DOGE and a reported $200 million purchase by major investors increased network activity by 35%. Despite heightened trading volume between $2.24 billion and $2.63 billion and active community engagement, the market saw volatility as DOGE consolidated after climbing from $0.2339 to $0.2467. Technical indicators show mixed sentiment, with short-term bearish pressure as the price tests key support levels, while longer-term analyses suggest potential for bullish continuation. Dogecoin remains among the top cryptocurrencies by market capitalization, with a circulating supply of approximately 150.47 billion DOGE.