The price of Dogecoin (DOGE) has declined by 3% in the last 24 hours, attributed to changes in market sentiment due to tariffs in the U.S., while Bitcoin and Ethereum have shown resilience.
Decline in Dogecoin Price
Currently, the price of Dogecoin is $0.1604 with a 24-hour trading volume of $897.96 million. The market capitalization of Dogecoin reaches $23.89 billion. Amid tariff concerns, its price has fallen by 3.09%.
Escalating Market Volatility
The odds of a U.S. recession in 2025 have increased to 40-60%, generating market anxiety. However, Augustine Fan, head of insights at SignalPlus, indicates that the crypto market could benefit from volatility in traditional equities. 'Cryptocurrencies have shown greater stability compared to stocks, and Bitcoin’s 'store of value' narrative is gradually regaining strength,' he noted.
Future of Dogecoin
Dogecoin is testing key support at the $0.15 level. A break below this level could target $0.13, while a break above $0.18 could lead to $0.21. In the coming weeks, trader sentiment could shift significantly if recession threats are averted.
The current situation in the Dogecoin market highlights the importance of monitoring changes in U.S. economic policy and their influence on the cryptocurrency market. Potential changes may alter the overall direction of cryptocurrencies in the coming weeks.
