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Dogecoin (DOGE) fell 3% to $0.1226 as whale wallets distributed approximately 150 million tokens, breaking a key technical support level.
The memecoin market, after reaching a peak capitalization of over $140 billion fueled by political token speculation, experienced a severe correction as the hype around election-themed assets dissipated. The collapse of these tokens erased billions in value and highlighted the sector's extreme volatility.
Dogecoin (DOGE) fell 5.5% to $0.1291, breaking a critical technical support level amid a broader market downturn. The decline was driven by a surge in selling pressure, with trading volume swelling to 267% above average, signaling a decisive bearish shift in short-term sentiment.
A Brooklyn man has been arrested for an alleged $15 million cryptocurrency phishing scam targeting approximately 100 Coinbase users. The event highlights significant security vulnerabilities and adds to investor concerns, occurring as Coinbase's stock faces pressure and the company pursues strategic institutional and retail expansion.
