Dogecoin (DOGE) Plummets 5.75% to $0.1740, Bitcoin (BTC) Drops 1.31%

Cryptocurrency prices slid on Wednesday, continuing a trend from the last day. The slide in tokens such as Bitcoin, Ethereum, and XRP follows a broader market pullback.

Coming after recent gains in the market, the pullback in equities and U.S. bonds suggests that investors are taking some profits amid lingering uncertainties about tariffs hanging over global markets.

Bitcoin fell 1.31% to $92,770.58 by 08:38 ET (12:38 GMT).

Among major tokens, memecoin Dogecoin led the losses with a 5.75 percent drop. In the broader crypto market, tokens such as XRP, Solana’s SOL slid more than 2 percent and Ethereum dropped 3.16 percent trading at $1,755.43.

The market slump comes amid a shift in trader sentiment as they begin to take profit following a steady upward trend earlier in the week.

The introduction of global tariff wars has shaken financial markets, and cryptocurrencies have felt the repercussions. Bitcoin, often seen as a safe haven, held above the $92,000 level. However, a 1.31% decrease signals that even BTC is not immune to the current profit-taking wave.

Memecoin Dogecoin saw the biggest losses among major tokens, with a 5.75 percent drop highlighting its susceptibility to market volatility.

In the broader crypto market, tokens such as XRP, Solana’s SOL slid more than 2 percent and Ethereum dropped a milder 3.16 percent. This downward pressure has been contributed to by the corrections of bond yields and U.S. equities related to the tariff.

CoinMarketCap market data shows that the total cryptocurrency market capitalization also slid, as they were all affected by the profit taking. Investors remain attentive to global economic developments, especially the tariff policies, which are affecting the risk assets such as cryptocurrencies.

Technical analysis suggests that the recent price reductions might not have ended just yet.

A selloff was triggered by the dogecoin breaking the key support levels, which contributed to its 5.75% decline. Meanwhile, XRP tanked to $2.16 and below key technical benchmarks, dropping 5.25% and posing greater declines if the broad market remains bearish.

Ethereum’s 3.16% retreat to $1,755.43 matches the retreat of altcoins. Bitcoin’s drop of 1.31% shows that long-term holders are still accumulating, but short-term traders are locking in gains.

The price movements in these assets have been amplified by the market’s illiquidity, a characteristic that is well known in the cryptocurrency market. For volatile assets like Dogecoin, small trades across exchanges can lead to big changes in prices.