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The entire cryptocurrency market has experienced a steep decline over the past 24 hours, with its total market cap plunging by double digits following a barrage of volatile price swings. Unsurprisingly, this sharp downturn has led to widespread liquidations among multiple assets within the past trading day.
Not long ago, Elon Musk announced that he will take Dogecoin (DOGE) to the moon. Fast forward to two weeks later, and the price of DOGE has lost 40% in a less than three-day span.
Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) suffered double-digit losses overnight as Bitcoin (CRYPTO: BTC) briefly slumped to $92,000. Cryptocurrency Price Market Cap 24-Hour Trend 7-Day Trend Dogecoin (CRYPTO: DOGE) $0.2571 $38 billion -12.6% -17.6% Shiba Inu (CRYPTO: SHIB) $0.00001484 $8.7 billion -13.5% -16.8% PEPE (CRYPTO: PEPE) $0.059745 $4.09 billion -19.2% -21.4% Trade Notes: Crypto trader Tardigrade reassured that DOGE's pullback is part of a macro cycle.
The crypto market has been pummeled as Donald Trump's tariffs shock the markets, sending an array of assets spiraling. Bitcoin (BTC) is down nearly 7% over the past 24 hours after struggling to stay above $100,000.
The last time DOGE's price was trading that low was in November last year.
DOGE faces threats from major sell-offs by whales in the market.
Data shared by Whale Alert blockchain sleuth, which monitors large cryptocurrency transfers and then shares the details on its website and X account, spreads the word that over the past three hours a staggering amount of DOGE meme coins has changed hands.
Elon Musk said his “DOGE team” of government efficiency enforcers is shutting down some payments to federal contractors, suggesting that the world's richest man may have access to sensitive systems used at the US Treasury Department. Bloomberg's Kevin Whitelaw reports.
Dogecoin experienced a 30% price correction from $0.3250 to $0.20, with technical indicators suggesting potential recovery pending breakthrough of key resistance levels at $0.250 and $0.270.
This DOGE trust is now offering a fresh opportunity for investors to gain exposure to Dogecoin. Grayscale has more than 25 crypto investment products under its belt.
The history of Dogecoin and its impact on the markets
A Dogecoin whale sent shockwaves across the meme coin market on Monday, dumping a staggering 200 million tokens to Binance. Primarily, as the dump occurred amid a broader market crash in light of Trump's new tariffs, market watchers convey severe concerns over future price movements.
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Renowned meme cryptocurrencies Dogecoin and Shiba Inu price have illustrated an alarming drop as the week kicked off, primarily attributable to the broader market trends. Notably, SHIB price slumped to as low as the $0.000012 level intraday, whereas DOGE price plunged to the $0.2 level, sparking investor concerns.
XRP, dogecoin (DOGE) and Cardano's ADA fell more than 25% to reverse all of the gains since December, reaching pre-U.S. election levels from early November.
Dogecoin declined heavily below the $0.280 support against the US Dollar. DOGE is now recovering and might face hurdles near $0.270.
Cryptocurrency prices crashed hard on Monday, continuing their recent trend, and leading to substantial liquidations. Bitcoin moved from the year-to-date high of $109,200 in January to below $93,000.
XRP closed below the 26 EMA, a crucial support level in robust uptrends, for the first time this year. This break indicates a possible change in momentum and a rise in bearish pressure.
Elon Musk has confirmed he wants to put the U.S.
Elon Musk's DOGE initiative targets a $4 billion daily spending cut with the ambitious goal of zero inflation by 2026, a move that could reshape the U.S. economy.
The price of Bitcoin nosedived after President Donald Trump's administration signed an executive order imposing new steep tariffs on all imported goods from China, Mexico, and Canada. The top coin by market cap is now down 4.4% on the day and roughly 6.8% over the last week at a current price of $97,754.
Crypto prices are crashing as President Trump suggests "pain" ahead for Americans in his brewing trade war, with Bitcoin under $97,000.
The crypto market is poised for its next great boom, and astute investors are on the lookout to find the next breakout coin that could give them tremendous profits.
The SEC has placed an importance on regulated futures markets for past crypto ETF approvals.
