Dogecoin dropped 20.6% due to Federal Reserve's interest rate outlook

From Nasdaq: 2024-12-21 19:02:26

Dogecoin (CRYPTO: DOGE) experienced a significant 20.6% drop in trading over the last seven days, attributed to selling pressures following the Federal Reserve’s interest rate outlook. The Fed’s announcement of only two additional 25 basis point rate cuts next year, down from the previously expected four cuts, triggered massive sell-offs in both stocks and cryptocurrencies. Despite recent pullbacks, Dogecoin’s price is still up 252% in 2024. Investors may look to the incoming Trump administration and potential support from Elon Musk to drive the next bull rally. Consider all factors before investing in Dogecoin.



Read more at Nasdaq: Why Dogecoin Is Sinking This Week