Dogecoin's Price Drop: What's Causing the Plunge?

Dogecoin's been on a rollercoaster, and lately, it feels more like a drop on Coney Island's Cyclone. What's behind this wild ride? Let's dive in.

Dogecoin's Downward Trend

This week hasn't been kind to Dogecoin. The meme coin's token price has taken a hit, falling 14.1% over the past seven days (as of Saturday, 5:30 p.m. ET). For comparison, Bitcoin dropped 5.6%, and Ethereum fell 10.8% during the same period. Ouch!

Powell's Ripple Effect

So, what's the deal? A big factor is Federal Reserve Chair Jerome Powell's recent comments about stock valuations. He suggested that equity prices are