DOGE Drops 6.98% Amid Market Pullback, Whale Activity Fuels Volatility and High Trading Volume

Dogecoin (DOGEUSDT) experienced a 6.98% decline in the past 24 hours, with the current price at $0.12742, primarily driven by continued weakness across the broader cryptocurrency market and selling pressure indicated by technical metrics such as its RSI at 39 and the price falling below both the 20-day and 50-day EMAs. This downward trend has been influenced by a market-wide pullback, aligning with declines seen in other major cryptocurrencies, while additional volatility was noted due to on-chain whale activity involving leveraged long positions. Despite the recent decline, Dogecoin maintains its position as the ninth largest cryptocurrency by market capitalization, with 24-hour trading volume on Binance remaining robust and DOGE/USDT as its most active pair.