DOGE Token Sees 3.16% Drop Amid Billion-Token Institutional Accumulation and Surging Trading Volumes

Dogecoin (DOGEUSDT) is currently trading at 0.26285 on Binance, reflecting a 3.16% decrease over the past 24 hours from an opening price of 0.27143. The recent price decline follows a period of heightened volatility and significant trading activity, driven by several key factors: institutional wallets accumulated over 1.08 billion DOGE in the last 48 hours, and trading volume surged to 2.01 billion DOGE, nearly triple the institutional daily average. Market sentiment was influenced by news of potential U.S. policy support for Dogecoin, including reports of President Trump's endorsement of a "Doge dividend check" and Bit Origin's announcement to add DOGE to its corporate reserves, which contributed to earlier price gains and increased open interest. However, a sharp liquidation imbalance and profit-taking after a strong rally led to the recent pullback. Dogecoin maintains a robust market capitalization of approximately $39 billion, with a circulating supply of about 150.19 billion DOGE and continued strong trading volumes, underscoring ongoing trader and institutional interest.