Dogecoin News Today: Dogecoin Drops 4% on Fed Rate Hurdle and Rising Trade Barriers As Remittix Gains Momentum

Dogecoin (DOGE) has experienced a significant price decline, dropping approximately 4% within the past 24 hours, from $0.20 to as low as $0.19 [1]. The selloff has been marked by a surge in trading volume, exceeding 918 million, well above the typical daily average of 385 million, indicating strong institutional selling pressure [1]. This downturn followed the Federal Reserve’s decision to maintain interest rates, effectively ending hopes for a rate cut in September [1]. Meanwhile, global trade barriers have increased as 92 countries face new restrictions due to the expiration of a key tariff framework, further intensifying macroeconomic headwinds against high-risk assets like DOGE [1].

From a technical standpoint, DOGE has struggled to hold above the $0.20 level throughout the week, with sellers aggressively rejecting price attempts near the $0.202–$0.203 range [1]. A potential support level has formed near $0.188 to $0.190, with trading volume spiking to 667 million as some investors seek bargains [1]. Despite this, the short-term outlook for DOGE remains weak, especially as the Fed shows no immediate intention to cut rates and global trade uncertainty persists [1].

Amid DOGE’s struggles, attention is shifting to Remittix (RTX), an emerging altcoin that is gaining momentum with a growing utility-driven narrative [1]. Remittix has raised over $18 million by selling more than 580 million tokens at $0.0895 each, nearing its $20 million funding milestone [1]. The project is set to launch its beta version of the PayFi wallet on September 15, offering full cryptocurrency features and aiming to expand its global financial use cases [1]. The token sale currently includes a 50% bonus, available for a limited time, which has attracted additional investor interest [1].

Investor sentiment appears to be favoring Remittix over DOGE, as the latter continues to face challenges from macroeconomic pressures and volatile sentiment around meme coins [1]. While DOGE remains exposed to broader economic uncertainties, Remittix is gaining traction through tangible product development and a clear mission to enhance real-world financial utility [1].

The contrasting performance of these two assets highlights the shifting dynamics within the cryptocurrency market. While DOGE is grappling with bearish trends, Remittix is leveraging its product milestones and growing adoption to position itself as a compelling alternative [1]. As the PayFi beta wallet nears its launch date, the project’s progress is being closely watched by investors seeking exposure to innovative, utility-based cryptocurrencies [1].

Source: [1] DOGE Whales Exit Positions As Remittix Nears $20M Project Milestone With PayFi Beta Wallet Incoming (https://blockonomi.com/doge-whales-exit-positions-as-remittix-nears-20m-project-milestone-with-payfi-beta-wallet-incoming/)