Dogecoin Slides 5.43% as Bearish Signals Persist Despite ETF Filing and High Trading Volume

Dogecoin (DOGEUSDT) has seen a notable 5.43% price decline over the past 24 hours, currently trading at 0.12913 USDT on Binance. The recent drop is attributed to ongoing price consolidation below key support levels, increased selling pressure following a breakdown under $0.145, and a lack of strong bullish momentum despite renewed interest in the derivatives market and developments such as scheduled token unlocks and institutional activity, including a Dogecoin ETF filing. Trading volume remains significant, ranging from 1.19 to 1.38 billion USDT in the past day, with the asset ranking #9 by market capitalization at $19.64 billion and circulating supply at approximately 167.90 billion DOGE. Despite heightened market participation and some positive news regarding adoption and institutional engagement, technical indicators continue to signal a bearish trend for Dogecoin in the short term.