- Dogecoin trading volume has plunged over 90% since November 2024, dropping from $60B to under $5B, signaling fading interest.
- Price has followed the volume down, with DOGE losing more than 50% of its value amid broader market panic triggered by Trump’s tariffs.
- Despite the bearish trend, some analysts remain bullish, believing DOGE could still bounce back if volume and sentiment recover.
Remember when Dogecoin was flying high back in November 2024? Yeah, that feels like a lifetime ago. Since hitting those wild two-year highs, things have taken a pretty nasty turn — and now, DOGE is stuck in what looks like a slow-motion nosedive.
The biggest red flag? Volume’s vanished. Like, really vanished.
From $60 Billion to Under $5B — What Happened?
So here’s the deal. Back on Nov. 13, Dogecoin was on fire. Daily trading volume was over $60 billion, which is, honestly, kinda nuts for a meme coin. But fast-forward to March 2025, and the volume had crashed below $3 billion. That’s a 90% drop in four months. Ouch.
And it hasn’t really bounced back much. Coinglass data shows a slight uptick here and there, but overall, Dogecoin’s daily volume has been under $5 billion for most of April. That’s not great.
Why’s this a big deal? Because low volume usually means low interest — and if nobody’s buying, well, prices tend to keep falling. Which they have. Hard.
Bears in Control, Longs Get Crushed
With price drifting lower and lower, long traders are getting absolutely wrecked. On Sunday alone, over $4 million in liquidations hit the books, and more than 80% of that came from longs. Not shocking though — the market’s been tilted red for days now.
And yeah, Trump’s new tariff wave has made everything worse. Stocks got slammed — worst drop since 2010 — and that panic spilled straight into crypto. Bitcoin’s been dragging near $80K, and altcoins like DOGE? They’ve taken it even worse. DOGE has lost more than half its value in less than six months. Compare that to Bitcoin’s 25% drop, and you get the idea.
But… Not Everyone’s Pessimistic?
Despite the gloomy charts and endless red candles, not everyone’s throwing in the towel. A few brave voices are still calling for a comeback.
One of them? Trader Tardigrade (yep, that’s a real name). He’s been tweeting out bullish takes and holding his ground. Whether that’s blind optimism or early conviction… we’ll find out soon enough.
Bottom line
Dogecoin’s not dead — but it’s definitely in a rough patch. Unless volume picks up and some kind of catalyst shows up, this slide might not be done yet.
But hey, it is DOGE. If any coin can turn things around out of nowhere, it’s the one that started as a joke and ended up on national news.
