Dogecoin's price plummeted to $0.31, a 35% drop from its 2024 peak of $0.47, following Federal Reserve Chair Jerome Powell's comments on inflation. Trading volume surged to $10.25 billion, with $83 million in outflows from Binance, reflecting heightened market volatility and selling pressure across the meme coin sector, including significant declines in SHIB and BONK. Despite the downturn, Dogecoin retains a market cap of $46.6 billion, maintaining its position as the seventh-largest cryptocurrency.