Tumbles Below $0.32 as Market Sentiment Shifts on Fed News | Bitcoin

TLDR

• Dogecoin plunged to $0.31, marking a 35% decline from its recent 2024 peak of $0.47
• Trading activity intensified with volume reaching $10.25 billion, up 67% in 24 hours
• Exchange data shows $83 million in outflows from Binance amid heightened selling pressure
• Broader meme coin sector affected, with SHIB dropping 23.3% and BONK falling 22.5%
• Despite the downturn, Dogecoin holds its $46.6 billion market cap and seventh place ranking

The cryptocurrency market witnessed a notable shift in momentum as Dogecoin prices retreated sharply, dropping to $0.31 in a move that caught many traders off guard. The decline came in direct response to Federal Reserve Chair Jerome Powell’s latest comments on the economic outlook.

Trading data reveals an intense 24-hour period where DOGE holders rushed to adjust their positions, leading to a 67% surge in trading volume. The total value of trades reached…more

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