DOGE Token Sees 2.19% Dip Amid ETF Delays, Yet Weekly Gains Surpass 20% on High Volume

Dogecoin (DOGEUSDT) experienced a price decrease of 2.19% over the last 24 hours, trading at 0.19831 USDT on Binance. The recent price movement can be attributed to ongoing market volatility, with fluctuations driven by broader crypto market trends and technical factors, including a rebound from June lows and renewed optimism about potential Federal Reserve rate cuts. However, selling pressure following recent gains and the U.S. SEC's postponement of decisions on Dogecoin ETF applications have contributed to short-term uncertainty and price consolidation.

Currently, Dogecoin maintains a strong market presence with a 24-hour trading volume ranging from $1.57 billion to $4.67 billion and a market capitalization of approximately $29.5 billion. Despite the recent daily decline, Dogecoin has posted a significant weekly gain of over 20%, reflecting heightened trading activity and interest in the derivatives market, as evidenced by open interest in DOGE futures reaching $2.44 billion.