DOGE Token Slides 5% Amid High Volume as Bearish Sentiment and Qubic Community Concerns Rise

Dogecoin (DOGEUSDT) has declined by 5.01% over the past 24 hours, currently trading at 0.22214 USDT on Binance. The price drop is primarily attributed to increased bearish sentiment following reports that the Qubic community may target Dogecoin after a recent 51% attack on Monero, as well as a rise in short positions and realized losses among holders. Technical indicators reflect market indecision, with the RSI near neutral and MACD lines converging, while the price approaches a key support level. Trading volume remains high at over $2.78 billion, and Dogecoin holds a market capitalization of approximately $33.42 billion, ranking 8th among cryptocurrencies.