DOGE Slides 2.6% Despite ETF Progress and $18M Withdrawals as Holders Reposition

Dogecoin (DOGE) is currently trading at $0.16208, down 2.60% over the past 24 hours according to Binance data. The recent price decline is attributed to ongoing market uncertainty despite positive developments, such as Bitwise amending its Dogecoin ETF filing to include in-kind redemptions, which brings the ETF closer to SEC approval. Additionally, large on-chain transfers, including 155 million DOGE sent to Robinhood and over $18 million in DOGE withdrawn from exchanges, suggest active repositioning by holders. Market sentiment remains cautious, with DOGE underperforming the broader crypto market over the past week and month, while trading volume remains robust at around $867 million to $963 million in the last 24 hours and market capitalization stands at approximately $24.77 billion.