DOGE Drops 5.42% Amid Fed Rate Decision, $6.27M Liquidated but Trading Volume Stays High

Dogecoin (DOGEUSDT) experienced a notable price decline of 5.42% over the last 24 hours, with the current price at $0.11508 according to Binance. The drop is primarily attributed to broad market selloffs driven by the Federal Reserve's decision to maintain interest rates, which triggered a rotation of capital toward safer assets and resulted in substantial liquidations across crypto futures, including $6.27 million for Dogecoin. Additional contributing factors include decreased on-chain transfers and reduced accumulation by large holders, as well as a significant reduction in whale transactions. Despite the recent downturn, Dogecoin’s 24-hour trading volume remains elevated at approximately $1.68 billion, with a circulating supply of 168.5 billion DOGE and a market capitalization near $19.7 billion, reflecting sustained interest and activity in the market.