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Title: Dogecoin Takes Hit Amid Crypto Crash: $29 Million DOGE Vanish
The crypto market was caught off guard yesterday when the Federal Open Market Committee (FOMC) announced a 25-basis-point cut in interest rates, marking the third consecutive rate cut. While the move was widely expected by markets, it did not provide much relief to investors as the market reacted negatively.
As a result of the Fed’s decision, Dogecoin (DOGE), once known for its volatility and resilience, took a severe hit. In just 24 hours, DOGE plummeted by over $29 million in value, wiping out nearly half of the previous day’s gains.
The sudden downturn has sent shockwaves throughout the cryptocurrency community, with many investors scrambling to adjust their positions.
Dogecoin (DOGE) price action
Source: u.today
