Dogecoin Soars 16%, Driven by Fed Rate Cut Speculation

Following the Federal Reserve’s hints of potential interest rate cuts, Dogecoin saw a surge of over 16% on Friday, reaching a new all-time high at $0.24. This bullish momentum was fueled by speculation that a shift in monetary policy could bolster risk assets like cryptocurrencies. Trading volume surged to $5.42 billion, placing Dogecoin in the eighth spot with a market cap of $35.52 billion. Analysts predict a potential 40% price increase if Dogecoin maintains its current momentum above the 50-day moving average of $0.218.