DOGE Sees $1.35B Volume Surge as Margin Trading and Whale Activity Drive Volatility

Dogecoin (DOGE) is currently trading at $0.22266 on Binance, reflecting a 2.46% decline over the past 24 hours with a 24-hour trading volume of approximately $1.35 billion and a market capitalization near $33.27 billion. The recent price decrease is attributed to a combination of factors: increased trading activity and volatility following Binance’s launch of new DOGEUSDT margin trading pairs and USDC-margined perpetual contracts with up to 75x leverage, a surge in on-chain activity including large whale transactions, and mixed sentiment from analysts—while machine learning models predict short-term bearish movement, some technical indicators and whale accumulation suggest potential for a future breakout. Despite the recent decline, Dogecoin remains highly active on social platforms with a notable percentage of traders holding long positions, indicating ongoing market interest and speculation around its near-term direction.