Just $3.36 Billion Dogecoin in 24 Hours as DOGE Price Makes U-Turn

Dogecoin Retreats Slightly After Three-Day Surge

The dog-themed cryptocurrency Dogecoin (DOGE) has pulled back slightly after three consecutive days of gains since May 20. After reaching $0.2544 early Friday - its highest level since May 12 - DOGE retreated to an intraday low of $0.227.

Trading volume reached $3.36 billion in the same 24-hour period, down 1.84% according to CoinMarketCap, mirroring DOGE's nearly 2% price decline. Despite the pullback, Dogecoin remains up 3.62% for the week.

The substantial trading volume suggests continued market interest, though the slight dip in activity reflects broader crypto market caution following recent gains. Profit-taking and macroeconomic factors contributed to Friday's reversal after Dogecoin rode Bitcoin's bullish momentum earlier in the week.

Bitcoin Hits New Highs Amid Subdued Market Sentiment

Bitcoin reached new highs this week, surpassing $111,000 for the first time with 100% of its circulating supply currently in profit. However, market sentiment remains surprisingly muted.

According to Glassnode, Bitcoin funding rates sit slightly below neutral at just 0.0079%, showing limited speculative enthusiasm. This cautious sentiment extends across most major cryptocurrencies, with Dogecoin being one of only two exceptions among the top 10.

DOGE's funding rates remain slightly above neutral, indicating mild speculative interest from traders betting on short-term price movements. This divergence highlights Dogecoin's unique position in the current market landscape.