DOGE Price Drops 3% as Large Holders Acquire 680 Million Tokens, Market Signals Mixed

Dogecoin (DOGEUSDT) experienced a 3.08% price decline over the past 24 hours, with the current price at $0.23008 according to Binance. The drop is attributed to a combination of market-wide meme coin stagnation, technical weakness after closing below the key $0.2150 support level, and reduced trading conviction following an initial surge in volume. Large holders recently acquired over 680 million DOGE, now controlling nearly half of the circulating supply, which may have contributed to short-term volatility. Despite the decline, Dogecoin remains actively traded, with 24-hour volume exceeding $183 million on Binance and a market cap near $32.62 billion, while technical indicators show mixed signals amid ongoing protocol discussions and rising holder numbers.