Dogecoin (DOGE) Down 5%, but Social Dominance Growing

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Dogecoin, the popular dog-themed cryptocurrency, experienced a decline of nearly 5% in early Saturday trading, mirroring a broader market downturn that resulted in significant liquidations totaling $458 million.

As of this writing, Dogecoin is trading in the red, aligning with the general crypto market trend. It has decreased by 3.63% in the last 24 hours, settling at $0.1639. Since reaching a peak of $0.206 on June 11, Dogecoin has generally been on a downward trajectory, with only two days showing positive gains out of the last ten. Friday's session saw the price dip to a low of $0.1584, where it found support.

Despite the recent price drop, Dogecoin is currently attracting considerable attention on social media, ranking among the most discussed coins on Friday.

?️ Coins that are driving markets and drawing in the most social media attention Friday, are:? The Tron blockchain and ecosystem is trending, including its deflationary tokenomics, staking options via Tronscan and TronLink, and its role in stablecoin transactions, especially… pic.twitter.com/ERlE3iHsN7— Santiment (@santimentfeed) June 20, 2025

According to a post on X by Santiment, Dogecoin is among the cryptocurrencies currently driving market activity and garnering significant social media engagement. Discussions around Dogecoin often revolve around its unlimited supply and the influence of its community.

Dogecoin-related conversations frequently touch upon its price volatility, mining profitability, and comparisons to leading cryptocurrencies like Bitcoin and Ethereum. Users actively debate its market value, explore various trading strategies, and speculate about potential future price movements, including the possibility of integration with platforms like Elon Musk's X.

Recent Developments:

Elon Musk is progressing toward his vision of transforming X into an "everything app." X CEO Linda Yaccarino recently suggested that the platform may soon incorporate in-app investing and trading features. Beyond trading capabilities, X is also set to launch its long-awaited peer-to-peer payment system, X Money, which Musk announced in January. However, there has been no explicit indication of cryptocurrency integration, including Dogecoin.

In other news, top analysts believe that the approval of numerous spot ETF applications for cryptocurrencies, potentially including Dogecoin, could occur before the end of the year.

According to James Seyffart, a Bloomberg ETF analyst, approvals could potentially arrive as early as next month or later in the fall. The prevailing sentiment is shifting from "if" to "when." He estimates Dogecoin approval odds to be 90% by year's end. Read original article on U.Today