DOGE Holds 9th Spot Despite 3% Drop as Institutional Interest and DeFi Utility Grow

Dogecoin (DOGE) experienced a 3.01% price decline over the past 24 hours, with the current price at $0.15942 and a 24-hour open of $0.16436 on Binance. The recent price drop is attributed to broader altcoin market weakness, as DOGE continues to trade in line with overall market sentiment despite positive news such as the SEC filing by Franklin Templeton to allow DOGE redemptions and Coinbase’s launch of wrapped Dogecoin (cbDOGE) on its Base network. These developments signal increasing institutional interest and expanding DeFi utility for DOGE, but have not immediately offset the prevailing downward pressure seen across the crypto market. Trading volume remains robust, and DOGE retains its position as the 9th largest cryptocurrency by market capitalization, supported by strong liquidity and active community participation.