Dogecoin (DOGE) has experienced a significant price drop, falling to $0.31 and down 35% from its recent high of $0.47. The drop was accompanied by a surge in trading volume to $10.25 billion as holders repositioned their investments. Despite the decline, DOGE still maintains a market capitalization of $46.6 billion, making it the seventh-largest cryptocurrency. The price decline is attributed to the Federal Reserve's hawkish comments on inflation and unemployment projections for 2025, which affected speculative assets like meme coins. Significant outflows were observed, particularly on Binance, with over $83 million exiting the market. The broader crypto market has also seen losses in other assets like Ethereum, XRP, and Solana. However, Fartcoin has shown positive numbers, gaining 71% over the past week. Solana meme coins, such as MOODENG and CHILLGUY, have also experienced declines. Other dog-themed tokens like Shiba Inu (SHIB) and BONK also dropped in price. Despite the correction, DOGE's price has come a long way from its humble beginnings but remains 57% below its peak in the 2021 bull market.



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