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The error message "Site matching query does not exist," typically occurs in Django when the SITE_ID setting in settings.py refers to a Site object that does not exist in the database.
I managed to debug this with the Python Shell by checking existing site ID.
from django.contrib.sites.models import Site
existing_site = Site.objects.get(domain='http://127.0.0.1:8000')
print(existing_site.id)
The returning statement revealed that the SITE_ID should be 2, not 1 as previously set.
This was fixed with an update to settings.py to match the correct site ID:
SITE_ID = 2
The django admin panel can now be accessed without any further errors.
Source:stackexchange.com