DOGE Slides 10% Amid Market Crash, Surging Volume, and Major Leadership Changes

Dogecoin (DOGE) is currently trading at $0.19729, reflecting a 10.35% decline over the past 24 hours, with a 24-hour trading volume exceeding $2.16 billion and maintaining its position as the 8th largest cryptocurrency by market capitalization. The recent price drop is attributed to a combination of a midnight market crash reported on May 30, 2025, heightened market volatility evidenced by a 43% surge in trading volume, and ongoing market uncertainty despite recent whale accumulation and technical consolidation patterns; additional factors include the conclusion of Elon Musk’s term as head of the Department of Government Efficiency and the launch of new cloud mining products, though these developments have not offset the prevailing bearish sentiment in the short term.