DOGE Drops 4.73% as $1.41B On-Chain Moves Offset 21Shares ETF Launch Impact

Dogecoin (DOGEUSDT) experienced a notable price decline of 4.73% in the last 24 hours, with the current Binance price at $0.11852. The price decrease is primarily attributed to large-scale on-chain movements totaling $1.41 billion and the redistribution of approximately 410 million DOGE by major holders, which have introduced increased volatility and market uncertainty. Additionally, while the launch of the 21Shares Dogecoin spot ETF (TDOG) on Nasdaq has expanded institutional access and generated positive sentiment, immediate market reaction appears muted amid ongoing consolidation and reduced trading volume. DOGE's market cap remains robust at over $20 billion, and its circulating supply is estimated at around 170 billion coins, with trading activity showing fluctuations but maintaining significant liquidity across exchanges.