Dogecoin (DOGE) experienced a sharp decline, dropping 10% in the last 24 hours. Despite recent gains that took its value to its highest point since May 2021, the cryptocurrency has fallen over 16% from its peak.
This downturn comes in the wake of a significant announcement from President-elect Donald J. Trump. The announcement involved the formation of something potentially impactful on DOGE, with prominent figures like Elon Musk and Ramaswamy involved.
Investors are monitoring the situation closely as the market reacts to these developments. The involved personalities have been known to influence the market significantly in the past.
