DOGE Tanks! Will The Meme Coin Soar Again?

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There I was, blissfully sipping my lukewarm tea, when someone tapped me on the shoulder and whispered: “Psst, Dogecoin is in freefall.” Naturally, I took a gander at the charts and nearly spilled said tea. Our beloved meme coin, which once soared like a caffeinated pigeon, has apparently decided to nap in a ditch. 😴

Back in November 2024, Dogecoin’s volume happily pranced around two-year highs, getting just about everyone’s attention. But faster than you can say “doggy biscuits,” that volume took a nosedive. The price dove, too, shedding over half its value in less than six months. Now, with daily trading seemingly on a juice cleanse below $5 billion, the outlook’s as bright as a solar eclipse at midnight.

The Curious Case Of Vanishing Volume

One might suspect these numbers are hiding under the sofa cushions, but alas, no. In November alone, Dogecoin’s daily volume strutted above $60 billion, only to crash-land beneath $3 billion by late March 2025. That’s a whopping 90% reduction in enthusiasm—like your friends abandoning you on moving day. Though some feeble attempts at reclaiming volume have appeared, it’s no Broadway comeback just yet. As price and volume often hold hands like starry-eyed toddlers, this slump could continue unless someone slips Dogecoin a double espresso. ☕

Traders longing for glory have taken the brunt of the damage. Last Sunday, over $4 million in liquidations occurred, with more than 80% from longs watching their hopes crumble faster than a stale cookie. Meanwhile, Donald Trump’s tariffs have apparently joined the fun, smacking the stock market into its worst crash since 2010—because why not. Bitcoin, traipsing along the same melancholic path, is inching toward $80,000 (though let’s be honest, that’s still quite an impressive number, albeit overshadowed by the 2010 reference). Altcoins like Dogecoin, which love their rollercoaster vibe, dropped over 50%—a spicy altitude adjustment compared to Bitcoin’s modest 25% dip.

Stay Tuned: Optimists Ahead

Yes, dear reader, not everyone is clinging to their inflatable safety duck. A handful remain steadfast in their unshakable optimism—enter the crypto analyst known as Trader Tardigrade. Armed with a chart reminiscent of a cryptic treasure map, they have identified some suspiciously similar patterns to the 2016 and 2021 Dogecoin cycles (cue spooky music). If this is indeed history repeating itself, DOGE might rocket 1,500% all the way to $2.1, presumably stopping for bathroom breaks and in-flight snacks. “Dogecoin is about to Surge again,” they proclaim, with the zeal of someone who discovered free ice cream on a Tuesday. 🚀

So there you have it, folks—on the one hand, DOGE volumes are plummeting like a panicked skydiver. On the other, some enthusiasts are still confidently waving their flags, waiting for the moment our meme-flavored canine coin leaps back to its old “to the moon” show. Stay alert, hold onto your hats, and maybe keep an extra cup of tea handy just in case this furry phenomenon tries to do a triple backflip when we least expect it.

Chart from TradingView.com

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2025-04-07 09:42