DOGE Slides 5% Amid Market Pullback, CLARITY Act Proposal, and 21Shares ETF Filing Drive Volatility

Dogecoin (DOGEUSDT) experienced notable volatility over the last 24 hours, with the price decreasing by 5.27% to $0.12987. The recent price decline is attributed to broader market weakness, including a crypto market pullback led by Bitcoin, as well as regulatory developments such as the proposal of the CLARITY Act to reclassify Dogecoin and the filing of a Dogecoin ETF by 21Shares. Increased trading activity is reflected in a 24-hour volume of approximately $2.06 billion, and the asset's market capitalization stands at $21.8 billion, ranking DOGE as the ninth-largest cryptocurrency. Despite recent accumulation by large holders and growing institutional interest, Dogecoin's price has struggled to hold key support levels, remaining volatile amid ongoing market fluctuations and regulatory news.