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1,000,000,000 DOGE In Past Five Hours As Price Crashes 25%
The cryptocurrency market has been experiencing a tumultuous period of late. The past few days have seen a dramatic shift in the value of various cryptocurrencies, with some experiencing significant losses. This is particularly true for Dogecoin (DOGE), which has suffered a major blow, with its price plummeting by an astonishing 25% in just five hours.
As of now, the market cap of DOGE stands at $92,800 million, a staggering decrease from the previously recorded high of $101,298 million. This massive sell-off has left many investors reeling and wondering what could have triggered such a drastic change in market sentiment.
Recent events suggest that the U.S. government’s imposition of tariffs on goods imported from Mexico and Canada as well as China may have been the catalyst for this sudden downturn. The trade war rhetoric and actual actions by governments worldwide have led to increased uncertainty, causing panic selling across the board.
The Dogecoin community has long been known for their resilience and ability to rally around each other during times of crisis, but it remains unclear if this will be enough to halt the current downward trend.
In conclusion, while there is no guarantee of recovery at present, Dogecoin’s historic volatility might still allow for a bounce back from these depths.
Source: u.today
