Why Is Dogecoin Crashing?

The crypto market has taken major hits over the past few days, and it is dragging down tokens large and small. Currently, Dogecoin is falling after Bitcoin and Ether lost significant value after crackdowns in China and new taxation requirements in the U.S. Currently, DOGE has fallen 17.97% over the past 90 days and 13.2% over the past week. The total market cap for cryptocurrency fell 7% to $2.66 trillion, and DOGE didn’t make the top ten list on Twitter ($TWTR@US). A strong U.S. Dollar is also cutting into crypto gains as inflation rises and bond tapering continues at the Federal Reserve. DOGE has also seen lower trading volumes, indicating that the token might have entered what is known as a period of consolidation.