Dogecoin (DOGE) experienced a 12.4% decline in the past 24 hours amidst a broader market downturn driven by economic concerns following Fed Chair Powell's remarks on inflation. The price dropped to $0.31, despite a trading volume surge of 67% to $10.25 billion as investors adjusted their positions. The market capitalization for Dogecoin remains at $46.6 billion, placing it as the seventh-largest cryptocurrency. Powell's comments regarding higher inflation and unemployment projections for 2025 have notably affected risk assets, particularly speculative cryptocurrencies. This decline led to significant outflows on exchanges, especially Binance, where $83 million left the market. Other cryptocurrencies such as Ethereum, XRP, and Solana also saw considerable losses, indicating a broader trend affecting meme coins more severely. While many tokens fell sharply, Fartcoin achieved a remarkable increase of 71% over the week, contrasting with the overall trend in meme coin values.

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