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DOGE Drops 2.12% as Whale Transfers Surge and Buenos Aires Accepts Dogecoin for Tax Payments
Dogecoin (DOGEUSDT) experienced a 2.12% price decrease over the past 24 hours, now trading at $0.12588 on Binance. This short-term dip can be attributed to a combination of factors, including ongoing volatility amid market pressure, recent loss of the $0.13 support level, and consolidation following a wider pullback observed earlier in December. On-chain data indicates increased accumulation by long-term holders and a reduction in speculative positions, while whale activity has seen about 200 million DOGE transferred in the past week. Additional market developments include the city of Buenos Aires beginning to accept Dogecoin for tax payments and enhanced trading options with the introduction of 24/7 DOGE futures on Coinbase, contributing to active trading with a 24-hour volume around $778 million and a market capitalization of approximately $20.8 billion. Overall, Dogecoin remains under watch for further utility expansion and price recovery potential.
Dogecoin (DOGEUSDT) experienced a 2.12% price decrease over the past 24 hours, now trading at $0.12588 on Binance. This short-term dip can be attributed to a combination of factors, including ongoing volatility amid market pressure, recent loss of the $0.13 support level, and consolidation following a wider pullback observed earlier in December. On-chain data indicates increased accumulation by long-term holders and a reduction in speculative positions, while whale activity has seen about 200 million DOGE transferred in the past week. Additional market developments include the city of Buenos Aires beginning to accept Dogecoin for tax payments and enhanced trading options with the introduction of 24/7 DOGE futures on Coinbase, contributing to active trading with a 24-hour volume around $778 million and a market capitalization of approximately $20.8 billion. Overall, Dogecoin remains under watch for further utility expansion and price recovery potential.
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