Dogecoin Plunges 9.6% in Market Correction: What’s Driving the Selloff?

Dogecoin takes a brutal hit as crypto markets tumble—dropping nearly double digits in a single session.

Market Mayhem: The Meme Coin Bleeds Out

DOGE isn't laughing now. The iconic joke-turned-asset nosedived 9.6% as traders scrambled for exits amid a broader crypto correction. No catalysts? Just classic crypto volatility doing what it does best—shaking out weak hands and rewarding patience.

Behind the Dip: Panic or Opportunity?

Whales might be repositioning, retail's getting margin-called, and your average 'hodler' is sweating. But let's be real—this is crypto. Corrections carve the path for the next rally. Remember: the same folks panic-selling today will FOMO back in at higher prices tomorrow. Classic finance logic—buy high, sell low, then complain on Twitter.

Where's the Bottom? Nobody Knows.

Support levels? Technicals? In a market driven by memes and Elon Musk tweets, traditional analysis often takes a backseat. But one thing's clear: dips like these separate believers from tourists. Dogecoin’s survived bigger crashes. This ain’t its first rodeo.

Stay sharp. DCA if you believe. Or just enjoy the show—watching paper hands fold never gets old.

What’s Behind Dogecoin’s Latest Price Fall?

Dogecoin (DOGE) is most likely following the market-wide correction trend. Bitcoin (BTC) has fallen to the $114,000 price level after climbing to $116,000. Other major crypto assets are also trading in the red zone today.

Dogecoin and the crypto market’s dip are most likely due to investors taking caution before the Federal Reserve’s two-day meeting from Sept. 16-17. The meeting will decide the US monetary policy for the coming time. Although there is a high chance of an interest rate cut, increasing inflation figures may present challenges.

While other assets have also faced corrections, Dogecoin (DOGE) is experiencing a steeper price dip than others. The larger correction could be due to DOGE having experienced a healthy rally over the last few days, and investors may be booking their profits right now.

Additionally, Dogecoin (DOGE) usually experiences more volatility since it is a memecoin. Other memecoins are also facing steep price corrections. shiba inu (SHIB) is down 6.7% in the daily charts, Pepe (PEPE) is down 7.7%, Bonk (BONK) is down 9.7%, and others are also following the same pattern.

Dogecoin (DOGE) and the larger crypto market will most likely recover their prices over the coming days. DOGE could breach the $0.30 level if the Federal Reserve cuts interest rates after its meeting. How things unfold is yet to be seen.