- DOGE price fell by more than 16% in the last 24 hours.
- Dogecoin recorded a 340% increase in trading volume.
With Trump’s new tariffs system imposed on Canada, Mexico, and Chain, global financial markets are in turmoil. Being an extremely sensitive market, crypto is also witnessing significant price crashes followed by billions-worth crypto liquidations in the past 24 hours.
While Bitcoin fell by around 5%, major altcoins such as Ether, XRP, SOL, and BNB are facing 2-digit losses. Dogecoin is also facing around an 18% price dip in the last 24 hours. On the other hand, whales have been flocking to buy Dogecoin in large volumes for a week now.
DOGE Price (Source: CoinMarketCap)
DOGE is down by over 16% and it is currently trading at $0.2484. Its market capitalization also fell by 16%, hovering around $36.7 billion. The fact that its 24-hour trading volume is up by more than 340%, with a staggering $10.49 billion is notable.
Can DOGE Get Back Up Soon?
Keeping the Dogecoin market price movement aside, DOGE has several positive indicators that signal a price surge. Based on renowned market analyst Ali Martinez recent post on X, whales accumulated around 560 million DOGE in the past week. The increasing investment interest from large holders signals that a price surge is around the corner.
On another note, global asset management firm Grayscale recently launched a Dogecoin Trust. And, it also filed a 19b-4 to convert the DOGE trust into a spot ETF. Amidst the increasing hype around crypto ETFs, several firms are exploring Dogecoin ETFs. Dogecoin ETF will bring a new era into the market, being the first memecoin ETF.
The current price dip is short-term, fueled by the broader market trends and global macroeconomic conditions. Once it fades off, Dogecoin can get back up and take reigns as the top memecoin in the market.
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