DOGE News: Shocking 90% Drop in Dogecoin Volume Amid Trump’s tariffs: Is DOGE Dead?

Dogecoin, the popular meme crypto, has experienced a shocking downturn recently. Ever since hitting its two-year highs in late 2024, the memecoin’s trading volume has plummeted, leading to a big drop in its price. Over the last six months, DOGE has lost more than 50% of its value. This has left investors astray. 

The DOGE Volume Crisis

Over the last four months, the DOGE volume has been seeing a steady decline. The daily trading volume touched a high of $60 billion on November 13, 2024. But by the end of March 2025, the DOGE volume stands at below $3 billion. The 90% drop in trading volume has also validated a decline in the DOGE price. Long-term holders are facing substantial losses as bears take control. Recent economic developments, including President Donald Trump’s tariffs, have made the situation worse. 

Statistics from Coinglass show that there has been an increase in the daily volume. However, it is far from significant, with the entire volume for April so far being $5 billion. Data suggests that the DOGE price decline may continue unless there is a clear shift in the volume. As a result of this decline, long traders have sold their positions. On Sunday, among the $4 million in liquidations, 80% were from these long-term holders, highlighting the effects of Donald Trump’s tariffs on the market. 

Crypto Analyst Expresses Enthusiasm For DOGE Price 

Despite the bearish market situation right now, the sentiments surrounding Dogecoin remain bullish. One of these bulls who has continued to believe in the memecoin is famous crypto analyst Trader Tardigrade. In an X post, the crypto analyst pointed out similarities to the 2016 and 2021 cycles, when DOGE saw notable moves. According to the chart posted by him, there have been similar formations pointing to a possible surge for DOGE. If this plays out as expected, then we could be looking at a 1500% surge in the DOGE price, with the crypto analyst setting the target at $2.1. 

Dogecoin is about to Surge again pic.twitter.com/QZ35KbNrcl

— Trader Tardigrade (@TATrader_Alan) April 6, 2025

DOGE Price Analysis: DOGE Declines Slowly

DOGE commenced trading at $0.1696, going on a slight uptrend initially. However, the uptrend soon lost momentum, and the trend was reversed by 1:30 UTC. A death cross formed on the MACD as well, leading DOGE into a slow by steady decline. The $0.1638 acted as a support briefly, but by 13:00 UTC, DOGE abandoned it on its way down. The DOGE price finally found some respite at $0.1597.

Chart1: published on TradingView, April 7, 2025

A slight reversal was seen as the MACD featured a golden cross, but the reversal did not last. DOGE again started declining with a golden cross, despite just recovering from an oversold RSI. This time DOGE fell all the way down to $0.146, finding some support there. A range formed, with $0.152 as the resistance. The DOGE price tried to break out and up from the resistance, but failed to do so. This failure led DOGE to let go of the support and tread further down. DOGE finally found support at $0.130. The RSI at this point reported heavily oversold levels. 

DOGE Price Prediction: Can DOGE Reclaim Lost Ground Today?

While the entire crypto market has crashed, it is worth noting that DOGE’s decline has been slow, and not sudden. DOGE price is showing some resilience to the overall market trend. To add to that, the bearish pressure has led the price down despite several instances of an overbought RSI. This means that a correction is on the cards soon and will help the DOGE price recover to some extent. As of now, DOGE looks poised to find a new resistance level and fall back to the support if it fails to break across.

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