DOGE Drops 9.85% Amid $5.16B Trading Surge and Institutional Moves After Bullish Breakout

Dogecoin (DOGEUSDT) experienced a notable price decline of 9.85% over the past 24 hours, with the current price at $0.22887 on Binance. The drop follows a period of heightened volatility, attributed to profit-taking after a strong bullish run driven by technical signals such as the daily golden cross and the emergence of bullish chart patterns like the double bottom and cup-and-handle. Significant accumulation by large holders and increased futures open interest above $3 billion indicate robust institutional activity, but the recent price dip suggests short-term selling pressure as the market consolidates after breaking key resistance levels. Trading volume remains elevated, with over $5.16 billion reported on Binance, and Dogecoin maintains a top-ten market capitalization with a circulating supply of approximately 150.5 billion DOGE.