Why Dogecoin (DOGE) Is Getting Obliterated This Week
Portfolio Pulse from Henry Khederian
Dogecoin (CRYPTO: DOGE) is trading lower by 5% due to overall market weakness following weak economic data from China and potential downgrades in the banking sector. Despite the listing of Europe's first Bitcoin ETF by Jacobi Asset Management, the negative sentiment in financial markets has led to a pullback in various asset classes, including Dogecoin.
August 16, 2023 | 10:31 pm
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Dogecoin is experiencing a decrease in value due to overall market weakness and potential banking sector downgrades.
The weak economic data from China and potential downgrades in the banking sector have led to a negative sentiment in the financial markets. This has resulted in a pullback in various asset classes, including cryptocurrencies like Dogecoin. Despite the listing of Europe's first Bitcoin ETF, the negative sentiment has outweighed the positive news, leading to a decrease in Dogecoin's value.
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IMPORTANCE 80
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