Dogecoin ($DOGE) Price: Federal Reserve Policy Changes Market Sentiment, Plummets 35% from 2024 Peak🔥🔥🔥

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After Federal Reserve Chairman Powell made strong inflation comments, Dogecoin (DOGE) fell 12.4% to $0.31 but still retains its position as the seventh largest cryptocurrency by market capitalization.

Dogecoin trading volume surged 67% to $10.25 billion, with over $83 million flowing out of Binance and trading volume increasing by 74%.

Powell's inflation remarks triggered market turmoil, and the drop in DOGE's price aligns with the overall market trend.

Other meme coins, such as Shiba Inu and BONK, also fell, with declines of 23.3% and 22.5%, respectively.

DOGE's market capitalization is $46.6 billion, still holding significant importance in the crypto ecosystem.

Solana-based meme coins are also facing challenges, but Fartcoin is rising against the trend, attracting media attention.

Technical indicators show bears controlling the market, with Bitcoin dropping below $100,000 and meme coins experiencing larger declines.

Although the current price is 57% lower than historical highs, it remains significantly above initial valuations. Frequent exchange liquidations are occurring, and leveraged traders face challenges.

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