Derived from Cryptonews, Dogecoin (DOGE) experienced a 9% drop following a hawkish US Federal Reserve policy announcement. Despite the decline, DOGE maintains support around $0.35, a key level since mid-2021. The Fed's decision to cut interest rates by 25 basis points led to a significant market reaction, with the S&P 500 seeing its largest drop since March 2020. However, optimism remains for Dogecoin's future, with potential growth linked to the Trump administration's crypto-friendly stance and Elon Musk's support. Analysts suggest DOGE could reach $1 by early 2025, following historical patterns of price surges post-Bitcoin rallies. Meanwhile, new meme coins like Flockerz (FLOCK) are gaining attention, with FLOCK raising over $7 million shortly after launch, indicating strong market interest in novel meme coins.
Dogecoin Holds $0.35 Support Amid Market Volatility
KuCoin NewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.