Dogecoin Sees A 10% Drop In Under 24 Hours! What Is The Price Heading In January?
The post Dogecoin Sees A 10% Drop In Under 24 Hours! What Is The Price Heading In January? appeared on BitcoinEthereumNews.com.
Meme coins collectively soared in value throughout 2024, amalgamating into a massive Q4 surge following Donald Trump’s election victory in November. With new money entering the market from previous bull runs, large cap memes like Dogecoin were the first to significantly pump, though hype for memes has since died down as utility gems take center stage. Here’s the rundown on Dogecoin’s latest news and rumors and why investors shouldn’t be too concerned over the Dogecoin meme’s short-term “capitulation.” Dogecoin’s Latest News: Why Investors Shouldn’t Be Concerned About Dogecoin’s 10% Drop In Dogecoin’s latest news, Dogecoin has demonstrated relative resilience during a wider market downturn, buoyed by significant whale activity, including the recent purchase of 1.08 billion DOGE worth $413 million. This accumulation, along with substantial transfers to private wallets, has alleviated selling pressure, allowing the Dogecoin meme to maintain relative stability alongside most other large caps. Still, the market dip has taken its toll on Dogecoin, with DOGE shedding 21% over the past two days as memes continue to falter in early 2025. While Dogecoin has undoubtedly lost momentum, this broader pullback reflects market-wide trends, with Bitcoin waxing and waning around $95,000 and Solana hitting its lowest price over a 60-day period. Even amidst these broader challenges, Dogecoin’s robust community, appeal to retail investors and positioning as the #1 leading meme coin offers hope for a Dogecoin rebound as market conditions inevitably stabilize in typical cryptocurrency fashion. Additionally, given that altcoin season is yet to fully commence, Dogecoin’s potential for recovery remains strong, fueled by growing speculation around Elon Musk’s possible integration of Dogecoin into a rumored “X Money” payments platform. Donald Trump’s pro-crypto administration could also be a notable bullish catalyst for the Dogecoin meme, with the incoming pro-crypto SEC chair Paul Atkins set to be sworn in shortly…
Filed under: News - @ January 11, 2025 4:30 pm