The cryptocurrency market is undergoing a strong correction, with Dogecoin (DOGE) being one of the most heavily impacted coins, dropping over 25% in the past 36 hours. After the FOMC meeting, although the Fed reduced interest rates by 25 basis points as expected, Chairman Jerome Powell warned that there would be no interest rate cuts in 2025 and the central bank is not allowed to buy BTC.
DOGE has fallen from $0.41 to $0.31, the lowest level in 5 weeks. Many analysts predict that DOGE could drop even further, with significant support at $0.22. However, if it bounces back from here, DOGE could rise to $0.40894 and $0.65557, opening up a growth opportunity of 165%. 🚀