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Why Dogecoin Plunged 9% Today

TheMotleyFool

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Popular meme token Dogecoin (CRYPTO: DOGE) saw rather intense selling pressure today. This dog-based digital currency was down 8.6% as of 10 a.m. ET, and hit a daily low of as much as 9.6% over the past 24 hours, in earlier trading. Since then, DOGE has begun to recover, down approximately 5% at 1 p.m. ET.

This week has been a relatively volatile one in the crypto world. For dog-inspired meme tokens, this volatility generally outpaced the market.

Image source: Getty Images.

Source Fool.com

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