Dogecoin Plummets Below Key Support Amid Market Volatility

Dogecoin (DOGE) is experiencing further decline as it fell by about 4% to $0.079, following a broader market weakness caused by the CLARITY Act setback and uncertainty surrounding the Federal Reserve's FOMC meeting.

The token has been under pressure despite signs of accumulation from large holders, with crypto analyst Ali Martinez reporting that whale addresses purchased roughly 240 million DOGE between September 9 and September 14 as it declined from $0.091 to $0.081.

However, this demand was not enough to overcome the broader selling pressure, with CoinGlass data showing Dogecoin recorded about $39 million more in spot outflows than inflows between September 9 and September 14.