Dogecoin Continues to Sink Among Crypto Fallout

Dogecoin ( $0.087 ) continued to trade lower on Friday morning, continuing a year of sad statistics that includes nearly a 19% loss of value this year, nearly a 20% loss in the last 30 days, and over an 8% loss in the last 7 days. As Dogecoin ( $0.087 ) traded lower overnight, the global market cap rose nearly 2%, but DOGE does not seem to be benefiting from these gains. Even so, the meme coin is in the top 10 most mentioned tokens on Twitter ($TWTR@US), and it was also trending on CoinMarketCap yesterday. DOGE couldn’t seem to capitalize on the buzz around Elon Musk telling McDonald’s ($MCD@US) to accept the token, saying he would eat a burger on TV if the chain were to accept Dogecoin ( $0.087 ) as legal tender. Moreover, the Federal Reserve put off any interest rate hikes until at least March, and Dogecoin ( $0.087 ) did not respond to that news, even though lower interest rates help risk assets maintain their value. At press time, Dogecoin ( $0.087 ) was trading at 13.86 cents, down over 3% on decreasing volume and a falling market cap.

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