649M DOGE Hits Binance as Traders Brace for Rebound or Retreat in Meme Coin Volatility

Over 649 million DOGE were traded on Binance amid a sharp price drop, signaling either panic selling or bullish positioning.

A staggering 649,331,848 DOGE, worth around $116.6 million, was recently transacted on Binance, drawing attention across the crypto space. This dramatic surge in trading volume coincided with a price dip, sparking multiple theories about investor strategy during heightened volatility.

According to CoinGlass, the movement suggests mixed sentiment: while some traders may be buying the dip, others are likely offloading DOGE to minimize losses. The price of Dogecoin currently stands at $0.1798, down from a recent high of $0.1945, and is testing a crucial support level around $0.1770. This reflects broader instability within the altcoin market, where price swings have become increasingly unpredictable.

📉 Support Levels in Focus as Traders Maneuver

Earlier technical analysis pegged DOGE’s support zone between $0.1760 and $0.1870—a range that is now being closely watched. This level seems to have become a hotspot for speculative activity, with some traders attempting to accumulate DOGE at discounted prices, betting on a near-future rebound.

Others may have been compelled to exit their positions as the meme coin broke through multiple support points. This kind of selling pressure often occurs when short-term holders fear further price erosion.

Despite the turbulence, CoinMarketCap data shows that DOGE is still maintaining a competitive edge in market capitalization rankings, particularly in its ongoing rivalry with Cardano (ADA).

📊 DOGE vs. ADA: Market Cap Tug-of-War

The battle between Dogecoin and Cardano for dominance in the crypto rankings continues. These two assets have exchanged top positions repeatedly in recent months. At present, DOGE holds the lead, further fueling community sentiment that altcoin season may soon kick in.

Many Dogecoin holders remain bullish, anticipating that the current drop is temporary and part of a broader market reset. The hope is that DOGE will not only recover but potentially extend its lead over ADA and other altcoins if momentum shifts upward.

Whether this recent Binance volume spike is a setup for a rally or a deeper correction remains to be seen—but it undeniably signals rising attention and speculation around Dogecoin’s near-term future.

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