Dogecoin Price Prediction After 28% Decrease: Expert Warns Rough Days for Cryptocurrency
Dogecoin took a massive hit Wednesday, falling steeply at 45 percent--from 48 cents to 21 cents in just a 24-hour period.
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Dogecoin took a massive hit on Wednesday, falling steeply at 45 percent--from 48 cents to 21 cents in just a 24-hour period. It came amid a wide sell-off due to China's announcements its financial institutions would continue to ban trading cryptocurrencies. It ended 28 percent lower, to around less than 36 cents.
In a CNET report, the China Internet Finance Association said the country's financial institutions will not be allowed to engage in cryptocurrency trading due to the "volatile nature of the digital coins." This is consistent with a similar 2017 ban on the tokens that also led to an enormous Bitcoin sell-off.