Dogecoin Price Drops After Shiba Inu Logo Removed From D.O.G.E. Website
Dogecoin's price has taken a hit after experiencing a 6% drop in value over the last day, reversing its upward trajectory from earlier this week.
This downturn is particularly notable given the recent announcements surrounding Dogecoin ETFs, which initially sparked excitement and expectations of heightened institutional engagement and a potential price surge.
However, one catalyst for the price dip has been identified as the removal of the iconic Shiba Inu image from the D.O.G.E. website, associated with the newly established Department Of Government Efficiency, recently authorized by US President Donald Trump.
The department's acronym drew public attention due to its resemblance to Dogecoin's ticker, although it has no direct relevance to the meme coin.