🤯 Have you seen our AI stock pickers’ 2024 results? 84.62%! Grab November’s list now.Pick Stocks with AI

Why Dogecoin Is Getting Hammered

Published 09/03/2023, 20:07
Updated 09/03/2023, 21:11
© Reuters.  Why Dogecoin Is Getting Hammered
CRCW
-
DOGE/USD
-
DOGE/USD
-
DOGE/EUR
-

Benzinga - Dogecoin (CRYPTO: DOGE) is trading lower by some 5.10% to $0.068 Thursday afternoon. The broader cryptocurrency market is experiencing marked weakness as Silvergate Capital Corp's planned liquidation has weighed on banks with crypto exposure.

See Also: PreMarket Prep Covers Potential Concerns For Regional Banks

So What's Going On With Silvergate?

Silvergate shares are plunging and taking crypto down with it Thursday after the company said it will wind down operations and voluntarily liquidate Silvergate Bank. Several top cryptocurrencies are selling off alongside the crypto-linked company.

Silvergate's liquidation plan includes full repayment of all deposits. The company also said it's considering how best to resolve claims and preserve the residual value of its assets.

According to data from Benzinga Pro, DOGE has a 52-week high of $0.178 and a 52-week low of $0.049.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.