Dogecoin's price has taken a significant hit today, driven by a combination of macroeconomic factors and geopolitical tensions. The release of hotter-than-expected job openings data in the United States has dampened investor sentiment, as it suggests that the Federal Reserve may not cut interest rates in the first half of 2025. This has led to a broad sell-off in the cryptocurrency market, with Dogecoin experiencing a notable decline. Additionally, allegations from France's President Emmanuel Macron against Elon Musk regarding election meddling have added to the uncertainty, given Musk's historical influence on Dogecoin's price movements.
The market's reaction to these developments has been swift, with Dogecoin's price dropping by 8.69% today. The cryptocurrency has fallen to a low of $0.354269, marking a significant decline from its earlier high of $0.397029.