DOGE Drops 8% Amid Whale Accumulation, $4.9B Volume Surge, and Elon Musk Endorsement

Dogecoin (DOGEUSDT) experienced a notable price decrease of 8.18% over the past 24 hours, with the current price at $0.22869 according to Binance. The decline follows a period of heightened volatility driven by significant whale accumulation—over 2 billion DOGE in the past week—and renewed social media attention, including support from Elon Musk. Despite the formation of a bullish golden cross and increased trading volume (over $4.9 billion in the last 24 hours), short-term profit-taking and market consolidation have contributed to the recent pullback. Dogecoin remains actively traded, with a market capitalization near $34 billion and a circulating supply exceeding 150 billion DOGE, while technical indicators and influential endorsements continue to shape market sentiment.