Why Dogecoin (DOGE) Sank Today
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Dogecoin (DOGE) fell by 10.6% today, mirroring losses in the S&P 500 and Nasdaq Composite. The decline follows a spike after Fed Chair Jerome Powell hinted at potential rate cuts, which initially boosted speculative assets like Dogecoin. However, investors are now uncertain about the extent of these cuts, leading to today's drop. Dogecoin, a meme coin with highly inflationary tokenomics, is not considered a serious investment compared to more established cryptocurrencies like Bitcoin and Ethereum.
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