DOGE Sees 4.4% Drop as Whales Accumulate Over 1 Billion Amid Market Consolidation

Dogecoin (DOGE) is currently trading at $0.21825 with a 24-hour trading volume between $1.27 billion and $1.98 billion, ranking as the 8th largest cryptocurrency by market capitalization at approximately $33 billion; the price has declined by 4.40% over the last 24 hours. The recent price decrease is attributed to profit-taking and volatility following a strong rally earlier in May, as well as ongoing market consolidation between $0.21 and $0.259; large holders have accumulated over 1 billion DOGE recently, but short-term sentiment has been affected by the recent pullback and mixed analyst outlooks regarding Dogecoin’s near-term trajectory.