DOGE Price Dips 3.11% Despite Nasdaq ETF Launch and Institutional Accumulation Surpassing 297 Million DOGE

Dogecoin (DOGEUSDT) experienced a 3.11% price decline over the past 24 hours, closing at $0.14390 on Binance. The price change is primarily attributed to decreased trading volume and a significant drop in derivatives open interest by 75%, indicating reduced speculative activity and potential market volatility. Despite positive developments such as the launch of a spot Dogecoin ETF by 21Shares on Nasdaq, increased institutional participation, and accumulation by large holders totaling over 297 million DOGE, selling pressure dominated the market. The current trading volume stands at approximately $2.16 billion, with Dogecoin fluctuating between $0.144 and $0.151, and maintaining a market capitalization near $24.2 billion.