DOGE Price Drops 2.44% After Breaking Support, Futures Activity and Whale Accumulation Shape Outlook

Dogecoin (DOGEUSDT) declined by 2.44% over the past 24 hours, trading at 0.13609 according to Binance, with volume remaining robust at 45.81 million USDT. The price drop is primarily attributed to a break below key support at 0.1396, reinforced by bearish technical indicators such as a bearish engulfing pattern and RSI oversold levels, alongside generally weak volume signals. Despite active trading interest and whale accumulation reports, short-term sentiment remains cautious as DOGE trades below the 0.146 resistance and approaches the 0.138 support level, with recent news including institutional recognition through perpetual futures and the launch of a futures trading contest contributing to overall market activity. Dogecoin maintains significant presence in the market, supported by developments such as partnerships for regulated payment integration in Japan and ETF approval, but current technical factors and resistance levels are exerting downward pressure on price.