Dogecoin Plunges After Rally, Sparking Outcry on Reddit
- The plunge came after a blistering sevenfold surge on Friday
- Robinhood halted instant deposits for crypto purchases
Photographer: Yuriko Nakao/Getty Images
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Dogecoin, a Shiba Inu-themed digital coin that started as a joke and became the latest obsession for retail traders this week, plunged almost by half Saturday, sparking a flurry of posts on Reddit and Twitter begging coin holders not to panic sell.
The digital coin fell 46% in 24 hours to $0.02582 as of 4:35 p.m. in New York on Saturday, according to CoinMarketCap data. It recovered to $0.03 Sunday, although still less than half of its Friday high, when a blistering sevenfold surge sent the coin to more than $0.07.