The price of Dogecoin (CRYPTO: DOGE) is sinking in Sunday's trading. The cryptocurrency was down 5.7% over the previous 24-hour period as of 11:45 a.m. ET. With Bitcoin and Ethereum roughly flat over the previous day of trading and the broader cryptocurrency market looking uncharacteristically stable, Dogecoin's sell-off likely stems from investors taking profits after recent gains.
In early Saturday trading, price fluctuations for meme token Dogecoin (CRYPTO: DOGE) took traders on a wild ride. The price of Dogecoin dropped 2.3% over the past 24 hours, as of 11 a.m. ET. Yesterday's massive rally, induced by a tweet from Tesla (NASDAQ: TSLA) CEO Elon Musk who announced that Dogecoin would be accepted for some types of Tesla merch, sent this meme token on its biggest rally in a month.
The U.S. auto safety regulator said on Friday that it is discussing heating issues of some Tesla vehicles with the automaker and evaluating "potential safety concerns." A number of Tesla owners have complained that heat pumps are failing in extreme cold temperatures, according to Drive Tesla Canada. The U.S. National Highway Traffic Safety Administration (NHTSA) said it "is aware of the issue and is continuing to gather information, discuss the issue with Tesla and evaluate potential safety concerns."