Dogecoin Drops 11% Amid Heavy Institutional Selling and Market Turbulence

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Dogecoin (DOGE) experienced an 11% decline, falling from $0.26 to $0.24 during a volatile trading period marked by heightened institutional selling. Trading volumes surged past 2.26 billion tokens, reflecting increased market activity. Although DOGE briefly found support near $0.23, it was unable to surpass the $0.25 resistance level and closed close to the session’s lows. Analysts attribute the drop to broader weaknesses in the crypto market and profit-taking by major investors.