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Why Dogecoin Is Sinking Today

TheMotleyFool

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Dogecoin (CRYPTO: DOGE) is losing ground Monday. The cryptocurrency's price had fallen 4.4% over the past 24 hours of trading as of 5:15 p.m. Over the same period, Bitcoin was down 0.4%, and Ethereum was down 2.2%.

Last week, news hit that a Dogecoin exchange traded fund (ETF) would be launched this week, and that helped spur huge gains for the token. With the launch of the fund now on the very near horizon, the token may be pulling back as part of a "buy the rumor, sell the news" dynamic.

Image source: Getty Images.

Source Fool.com

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