DOGE Slides 7.72% After Breaking $0.21 Support Amid High Volume and Market Volatility

Dogecoin (DOGE) is currently trading at $0.18912, reflecting a 7.72% decline over the past 24 hours, with a 24-hour trading volume of approximately $2.2 billion and a market capitalization of $28.28 billion, ranking it 8th among cryptocurrencies by market cap. The recent price drop is attributed to DOGE breaking below the key $0.21 support level, which has increased short-term volatility and cautious sentiment among traders. Additional factors influencing this movement include the introduction of leveraged trading for DOGEUSDT and the resignation of Elon Musk from his advisory role with the Department of Government Efficiency, both of which have contributed to heightened market activity and uncertainty. Despite these fluctuations, DOGE maintains strong trading volumes and remains a highly liquid asset, though forecasts indicate continued volatility in the near term.