DOGE Token Faces 4.66% Drop as $132M in Losses Trigger Major Liquidations and High Trading Volume

Dogecoin (DOGEUSDT) experienced a 4.66% price decline over the past 24 hours, with the current price at $0.15754 according to Binance. The price drop is primarily attributed to increased selling pressure, significant realized losses by investors ($132 million in losses versus $5 million in gains), and the accumulation of large short positions in the $0.168–$0.172 range, which triggered major liquidation clusters on major exchanges. Broader market consolidation and underperformance relative to other top cryptocurrencies also contributed to the downward movement, as market sentiment across the crypto sector remained cautious.

DOGEUSDT saw over 628 million DOGE traded in the last 24 hours, with a 1.61% increase in open interest and a 24-hour trading volume of approximately $709.06 million on Binance. The market capitalization stands at around $23.66 billion, maintaining Dogecoin’s position among the top cryptocurrencies by market cap despite recent volatility.