DOGE Token Price Drops 6.26% Amid $328M Liquidation Event and 100% Surge in Trading Volume

Dogecoin (DOGEUSDT) experienced a notable price decline of 6.26% over the past 24 hours, with the current price at 0.10517 USDT according to Binance. The drop follows heightened market volatility, significant liquidation events, and a surge in trading volume—volume increased by over 100% day-on-day, reflecting intensified market activity. The recent long liquidation event prompted Binance to provide $328 million in compensation to affected users, likely amplifying selling pressure and contributing to the price dip. Analyst commentary over the past week has focused on Dogecoin’s volatility, a weakening technical outlook, and ongoing uncertainty regarding its future utility and community support. Despite these fluctuations, Dogecoin remains a top 10 cryptocurrency, with a market capitalization near $17.9 billion and a circulating supply of approximately 169 billion DOGE.