The Federal Reserve's recent economic outlook caused an immediate stir in the market. Dogecoin dropped 12.4% in just 24 hours, falling to $0.31, while trading volume surged by 67% to reach $10.25 billion. Considering it is down 35% from its peak this year, it’s still fortunate that its market capitalization remains steady at $46.6 billion, ranking seventh.
Federal Reserve Chairman Powell spoke firmly on Wednesday, stating that inflation and unemployment rates in 2025 would be higher than expected, sending shivers down the spines of risk assets, with cryptocurrencies being the hardest hit. Although everyone is aware of the 25 basis point rate cut, he also mentioned that rates won't drop so quickly again, causing even more panic in the market.
On the Dogecoin front, not only is the price falling, but funds are also flowing out significantly, with over $83 million flowing out of Binance, and trading volume has frighteningly increased to $1.85 billion. A look at the liquidation data shows that most exchanges are experiencing capital outflows; this market is truly in turmoil!
Not just Dogecoin, but Bitcoin, Ethereum, and XRP are also falling. Bitcoin is currently trading at $101,430, having dropped significantly in the past 24 hours. Others like Ethereum, XRP, and Solana are also down by double digits.
Looking at those meme coins, only Fartcoin has increased in the past week, rising by 71%, and this month it has skyrocketed by 323%, which is truly mind-blowing. However, popular Solana meme coins like MOODENG and CHILLGUY have now fallen into the mid-range, with prices dropping by 38% and 43%. The dog-themed tokens have also dropped along with Dogecoin, with Shiba Inu (SHIB) down 23.3% and BONK down 22.5%. This market is truly hard to understand!
Now that the market has started to adjust, it is exploding across the board! In this situation, it is best to lay low and position potential altcoins! I have carefully selected a cryptocurrency expected to increase by 2-3 times in the short term and 5-10 times in the long term; leave a comment + like for a free share!
The Federal Reserve's recent economic outlook caused an immediate stir in the market. Dogecoin dropped 12.4% in just 24 hours, falling to $0.31, while trading volume surged by 67% to reach $10.25 billion. Considering it is down 35% from its peak this year, it’s still fortunate that its market capitalization remains steady at $46.6 billion, ranking seventh.
Federal Reserve Chairman Powell spoke firmly on Wednesday, stating that inflation and unemployment rates in 2025 would be higher than expected, sending shivers down the spines of risk assets, with cryptocurrencies being the hardest hit. Although everyone is aware of the 25 basis point rate cut, he also mentioned that rates won't drop so quickly again, causing even more panic in the market.
On the Dogecoin front, not only is the price falling, but funds are also flowing out significantly, with over $83 million flowing out of Binance, and trading volume has frighteningly increased to $1.85 billion. A look at the liquidation data shows that most exchanges are experiencing capital outflows; this market is truly in turmoil!
Not just Dogecoin, but Bitcoin, Ethereum, and XRP are also falling. Bitcoin is currently trading at $101,430, having dropped significantly in the past 24 hours. Others like Ethereum, XRP, and Solana are also down by double digits.
Looking at those meme coins, only Fartcoin has increased in the past week, rising by 71%, and this month it has skyrocketed by 323%, which is truly mind-blowing. However, popular Solana meme coins like MOODENG and CHILLGUY have now fallen into the mid-range, with prices dropping by 38% and 43%. The dog-themed tokens have also dropped along with Dogecoin, with Shiba Inu (SHIB) down 23.3% and BONK down 22.5%. This market is truly hard to understand!
