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Dogecoin DOGE/USD saw a sudden crash of 8% on Monday night to fall below the key 10-cent mark.
The meme cryptocurrency traded at $0.09896 amid overall market weakness that saw Bitcoin BTC/USD and Ethereum ETH/USD plunge as well.
Two of the world’s largest cryptocurrency exchanges — Binance and FTX — engaging in a public feud is assumed to be taking a toll on the cryptocurrency market. FTX’s native cryptocurrency FTX TokenFTT/USD is down nearly 20% over 24 hours.
Dogecoin saw a spike late last month after Elon Musk took charge at social media company Twitter but the cryptocurrency dropped after Twitter was reported to be ditching plans for a cryptocurrency wallet.
Nearly $6 million has been liquidated in Dogecoin in the past hour, at the time of writing.
