DOGE Drops 5.53% Amid Resistance Rejection, But Whale Accumulation Signals Strong Market Confidence

Dogecoin (DOGEUSDT) experienced a 5.53% price decline over the past 24 hours, with the current price at 0.22040 USDT according to Binance. This downward movement is primarily attributed to recent bearish sentiment following DOGE's rejection at resistance levels near 0.24676 and 0.2407, as well as mixed technical signals including a reversal from intraday highs and ongoing volatility. Despite short-term selling pressure, notable whale accumulation of over 1 billion DOGE in the last 48 hours and sustained open interest above $3 billion indicate continued market engagement and confidence from large investors. Dogecoin maintains strong liquidity, with 24-hour trading volume reported between $2.3 billion and $2.7 billion, and a market capitalization around $33.3 billion to $34.6 billion, ranking it among the top cryptocurrencies by market value.