DOGE Price Drops 4.58% Amid $220M Transfer, Technical Sell Signals, and Qubic Blockchain Stress Test

Dogecoin (DOGEUSDT) experienced a notable price decline of 4.58% over the past 24 hours, with the current Binance price at $0.21335, down from a 24h open of $0.22360. This drop is primarily attributed to increased selling pressure indicated by technical signals such as a negative Bull and Bear Power indicator, a MACD sell signal, and an RSI below 50, as well as reports of key investor groups disengaging from Dogecoin. Additionally, a large transfer of 220 million DOGE to Robinhood and the Qubic blockchain community's announcement of a technical stress test have contributed to heightened market activity and volatility. Dogecoin remains actively traded, with a 24-hour volume near $2.88 billion and a market capitalization around $32.16 billion, ranking it among the top 10 cryptocurrencies.