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Why Dogecoin Is Sinking Today

TheMotleyFool

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Why Dogecoin Is Sinking Today: https://g.foolcdn.com/editorial/images/829474/dogemusk.jpeg

The cryptocurrency Dogecoin (CRYPTO: DOGE) is moving lower today, down 7.9% in the last 24 hours as of 1:13 p.m. ET Thursday. The drop comes as the S 500 and Nasdaq Composite both fell slightly.

Dogecoin is falling today along with the rest of the crypto market after comments from U.S. Treasury Secretary Scott Bessent sent Bitcoin lower.

Bessent appeared on Mornings with Maria on Fox Business, saying that the federal government has no plans to purchase more Bitcoin to add to its strategic reserve, instead relying on what has already been confiscated through law enforcement actions.

Source Fool.com