Dogecoin Price Drops as Cautious Market Sentiment Drives Selling Pressure

Dogecoin (DOGE) saw a price decline of over 2% to trade around $0.1628, reflecting the current market’s cautious sentiment and declining trading activity. This latest dip comes after a brief price recovery, with analysts citing reduced market activity and weakening buying interest as potential factors behind the decline. Trading data reveals a drop in open interest for DOGE derivatives, while on-chain analytics highlight limited bullish momentum as indicated by the RSI at 46.88 and a weak MACD signal.