Why Dogecoin Is Sinking Today

Group 1 - Dogecoin is experiencing a decline of 6.7% in trading due to bearish momentum in the broader crypto market and a "buy the rumor, sell the news" dynamic [1][5] - The Federal Reserve's recent interest rate cut of 25 basis points did not lead to a rally in cryptocurrency valuations, disappointing investors who anticipated a larger cut of 50 basis points [4][7] - The launch of the REX-Osprey DOGE ETF has not resulted in significant valuation gains for Dogecoin, with the cryptocurrency seeing pullbacks before and after the ETF launch [5][7] Group 2 - Bitcoin and Ethereum also experienced declines, with Bitcoin down 2% and Ethereum down 3.3% over the same 24-hour period [1] - The lack of bullish momentum following the ETF launch and the Fed's rate cut has led some investors to reduce their exposure to the cryptocurrency market [2][4]