Understanding Today’s Dogecoin Price Drop: What’s Going On?

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Dogecoin slumps as Trump’s crypto silence and mounting challenges at Elon Musk’s DOGE initiative weigh on market sentiment.

Dogecoin price has dropped by around 12% in the last 24 hours to reach $0.338 on Jan. 21.

The memecoin’s decline appears alongside a broader crypto market selloff, which, in turn, is plunging after Donald Trump’s inauguration as the 45th president of the United States, hinting at a “sell-the-news” event.

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