Dogecoin Volume Drops 50% in Quiet Weekend Trade Amid Market Selloff
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The dog-themed cryptocurrency Dogecoin (DOGE) saw its trading volume crater by almost 50% in quiet weekend trading even as the broader crypto market continued to face selling pressure. Dogecoin trading volume fell 49% in the past 24 hours to $607 million, data from CoinMarketCap showed, suggesting less market activity around the popular dog coin as traders evaluate conditions amid the ongoing market sell-off. Lower trading volume might suggest a temporary slowdown in participation, particularly during weekends when activity across digital asset markets may ease. Dogecoin fell for the fourth day on Saturday as investors weighed hotter-than-expected inflation data and Federal Reserve Chairman Kevin Warsh's latest comments on interest rates.
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