Here's Why Dogecoin Plunged 4.5% Today
Dogecoin (CRYPTO: DOGE) is one of the quickest decliners in a very red cryptocurrency market today. This token has declined 4.5% over the past 24 hours, as of 3:15 p.m. ET, despite bouncing off an intraday low that had brought this top meme coin down by more than 5%.
Even for a meme coin, I'd argue that this move is substantial. That's because Dogecoin is still the ninth-largest cryptocurrency by market capitalization and is widely considered a fairly accurate sentiment gauge for digital assets more broadly.
Let's dive into what may have shifted with Dogecoin's investment thesis today, or if this is another run-of-the-mill market sell-off investors shouldn't pay too much attention to.
Source Fool.com
