Dogecoin Drops 3.54% Amid Market Consolidation, Despite Buenos Aires Tax Adoption and ETF Interest

Dogecoin (DOGEUSDT) has declined by 3.54% in the last 24 hours, currently trading at $0.13408 according to Binance data. This price change is largely attributed to ongoing market consolidation and reduced bullish sentiment, despite positive developments such as Buenos Aires accepting Dogecoin for municipal tax payments and renewed institutional interest with proposals for Dogecoin ETF products. Additionally, technical factors—such as the price testing key support levels and a decrease in 24-hour trading volume—have contributed to short-term volatility and bearish pressure, even as community support and speculation on Tesla re-enabling Dogecoin payments have fueled brief recoveries. Dogecoin’s current market capitalization is approximately $22.53–$23.33 billion, with a 24-hour trading volume ranging from $514 million to $1.19 billion, reflecting a period of volatility and consolidation.