Dogecoin's price has experienced a significant drop today, largely due to a shift in investor sentiment towards emerging altcoins. Recent reports indicate that major cryptocurrency investors, including those holding Dogecoin and Shiba Inu, are redirecting their focus to new digital assets like XYZVerse, which promises substantial growth potential. This shift is driven by the allure of high returns and the innovative features of these new coins, which are capturing the attention of the crypto community.
Adding to the downward pressure on Dogecoin is the broader market reaction to the unveiling of DeepSeek AI, which has intensified fear, uncertainty, and doubt (FUD) across the crypto space. This has led to widespread sell-offs, affecting Dogecoin's price stability. Despite its strong community backing and historical resilience, Dogecoin is currently facing challenges in maintaining its position amidst the growing popularity of new meme coins like Cutoshi, which are gaining traction for their unique ecosystems and potential for high growth.
Dogecoin's price has fallen by 7.58% today, with the current price at $0.247288. It reached a high of $0.267565 and a low of $0.212629 during the day.