Dogecoin (DOGE) fell to $0.16 on November 3, reflecting a broader downturn in the cryptocurrency market following comments from Austan Goolsbee, president of the Federal Reserve Bank of Chicago. Goolsbee's cautious stance on further interest rate cuts due to inflation concerns has contributed to market uncertainty.
The impact of Goolsbee's remarks was felt across major cryptocurrencies, with Bitcoin declining to $105,336 and Ethereum to $3,564. Analysts suggest that Dogecoin could face further declines, potentially reaching $0.14 if market conditions persist.
Dogecoin Drops to $0.16 as Fed Rate Concerns Weigh on Crypto Market
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