The latest price of Dogecoin at 22:00 on January 23, 2025

(24-hour Dogecoin price trend)

Dogecoin Price Slumps as Crypto Market Suffers Sell-Off

January 23, 2025 (10:00 PM EST)

Dogecoin (DOGE) has joined the ranks of major cryptocurrencies experiencing a downturn in value. As of this writing, DOGE is trading at $0.34901046507069, down by 3.66825679% over the past 24 hours. The 24-hour trading volume for DOGE stands at $2607190601.5258.

The circulating supply of Dogecoin is 147743146383.71, while the maximum supply and total supply are both unspecified. The current market capitalization for DOGE is $51563904230.384.

Factors Contributing to the Crypto Market Sell-Off

The sell-off in the crypto market has been attributed to several factors, including:

• Federal Reserve policy: The Federal Reserve's aggressive interest rate hikes to curb inflation have created uncertainty in the market, leading investors to pull back from riskier assets like cryptocurrencies.
• Regulatory concerns: Ongoing regulatory scrutiny has cast a shadow over the crypto industry, deterring some investors from participating.
• Negative news: Recent high-profile bankruptcies and allegations of fraud in the crypto space have eroded investor confidence.

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