DOGE Price Drops 2.92% Amid $6,070 Liquidations and $1.92B Trading Surge on Binance

Dogecoin (DOGEUSDT) experienced a 2.92% price decrease in the past 24 hours, opening at 0.12637 and currently trading at 0.12268 on Binance. This downward movement is primarily attributed to persistent bearish pressure, as DOGE fell below key support levels amid high trading volume and oversold conditions indicated by a sub-30 RSI. Short positions totaling $6,070 were liquidated at $0.1265, suggesting market volatility and forced closures during the decline. Despite the drop, Dogecoin saw a notable increase in trading activity, with volume surging up to $1.92 billion and a circulating supply of 168.05 billion DOGE. The asset's market capitalization stands around $20.48 billion, and sentiment remains bearish, underscored by a prevailing "Extreme Fear" reading from the Fear & Greed Index.