Summary
- Dogecoin price dropped more than 10 percent in the past 24 hours, falling to $0.2396.
- The token saw $4.71 billion in trading volume across 1,310 markets during the same period.
Dogecoin’s value has fallen sharply in the past 24 hours, reflecting a broader pullback across the cryptocurrency market. At midday trading on 22 September, the token was priced at $0.2396, representing a decline of 10.5 percent over the period.
Heavy trading volumes highlight market activity
Despite the price fall, Dogecoin recorded significant activity on exchanges. The cryptocurrency posted $4.71 billion in trading volume over the last 24 hours, according to CoinMarketCap data. Trading occurred across 1,310 active markets, underscoring the scale of investor participation in the asset.
Dogecoin currently maintains a circulating supply of 151 billion tokens, making it one of the largest cryptocurrencies by market capitalization. The high volume of transactions suggests that traders remain engaged with the asset, even amid declining prices.
Analysts monitor support levels amid wider market decline
Market analysts attribute the drop in Dogecoin to a mix of profit-taking and growing Bitcoin dominance, which has drawn capital away from alternative digital assets. Broader sentiment across the sector has also shifted, with multiple altcoins posting similar double-digit declines.
Dogecoin investors are now watching closely whether the token can hold above the $0.23 support level. A break below this threshold could redirect market attention toward the $0.20 mark. The asset has previously shown high levels of volatility, and market participants remain alert to any signs of stabilization or further downside momentum.
While Dogecoin continues to trade actively, the latest downturn highlights the cryptocurrency’s sensitivity to overall market conditions. Traders will be monitoring near-term developments to assess whether the price pressure eases or extends further.
Q1: Why did Dogecoin fall more than 10% in 24h?
A: Analysts attribute the decline to profit-taking and rising Bitcoin dominance, which diverted liquidity away from altcoins.
Q2: What is Dogecoin’s current price?
A: As of the latest update, DOGE trades at $0.2396.
Q3: Is this decline unique to Dogecoin?
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