DOGE Token Volatility Surges: $1.31B Volume and Market Cap Hold Amid 2.19% Price Drop

Dogecoin (DOGEUSDT) has experienced increased volatility in the last 24 hours, with the price declining by 2.19% to $0.16676 according to Binance data. This recent price movement follows a period of heightened attention on meme coins, particularly after Elon Musk's announcement of the America Party, which contributed to a surge in trading volume and a short-term price rally. Additional factors influencing DOGE's price include optimism around potential Federal Reserve rate cuts, progress in U.S. tariff negotiations, and technical breakouts above key resistance levels, which previously drove the price to a one-month high. Despite the recent pullback, Dogecoin maintains strong trading activity, with a 24-hour volume of $1.31 billion and a market capitalization of $25.13 billion, ranking it as the 9th largest cryptocurrency by market cap.