%Dogecoin (CRYPTO: $DOGE) price has fallen 11% in the past 24 hours amid institutional selling pressure and extreme volatility.
Dogecoin is currently trading at $0.24 U.S. following a steep selloff in the past day.
Trading activity in the %Altcoin surged to 2.26 billion tokens, marking one of the highest volumes in recent weeks.
Analysts blamed the decline largely on profit-taking among large holders of DOGE. Despite brief bounces, Dogecoin has failed to reclaim resistance at $0.25 U.S.
Market sentiment remains fragile across smaller altcoins such as Dogecoin as macroeconomic concerns, notably around global trade, keep investors on edge.
At the same time, investors are shifting money into %Ethereum (CRYPTO: $ETH), the second largest %Cryptocurrency by market capitalization, which has seen its price rise more than 50% in the past month.
Crypto analysts say $0.23 U.S. is currently the key support level to watch with Dogecoin and that any decline below that level could see the crypto fall to $0.21 U.S. or lower.
So far in 2025, DOGE has declined 25%.
