DOGE Drops 5.5% as Whales Accumulate 320 Million Tokens Amid Meme Coin Market Correction

Dogecoin (DOGE) experienced a 5.50% price decline over the past 24 hours, with the current price at $0.17684 (Binance data), primarily attributed to a broader meme coin market correction and technical weakness, as DOGE tested the $0.17 support zone. Despite the recent drop, large holders accumulated 320 million DOGE in the past week, increasing their total to 24.98 billion DOGE, indicating continued whale interest at lower price levels. Trading volume rose to $1.8 billion, reflecting heightened market activity amid volatility, while Dogecoin remains ranked among the top 10 cryptocurrencies by market capitalization. Technical analysis highlights a rounding bottom pattern on weekly charts, suggesting potential for a bullish reversal, although historical June performance has typically been bearish.