Dogecoin (DOGE) Price Drops 8% as Global Economic Jitters Grip Crypto Markets

The crypto market experienced a downturn over the weekend, with major altcoins like Chainlink (LINK) and Pepe (PEPE) reporting substantial losses. The decline, which coincided with falling prices across the altcoin sector, came as investors reacted to mounting global uncertainties—particularly escalating U.S.-China trade tensions and rising market risk aversion.

According to Alex Kuptsikevich, chief market analyst at FxPro, the sell-off was triggered by renewed tariff fears. “Markets went red on Friday on renewed tariff-related apprehensions,” he noted. “President Trump accused China of violating the recent trade truce, while Treasury Secretary Scott Bessent admitted that talks with Beijing had stalled.”

The downturn also saw Bitcoin (BTC) slipping by more than 2% to fall below the $104,000 mark, largely due to reports of major whale wallets sending coins back to exchanges—a move that usually indicates profit-taking.

Plus, new data from Glassnode showed that the Open Interest in BTC futures increased 51% since April, while options saw a 126% increase—both indicators of heightened speculation and hedging activity.

“Bitcoin’s local support looks solid around $103K for the coming days,” Kuptsikevich added, but pointed out that the increased volatility might put pressure on altcoins like Dogecoin (DOGE).

As the crypto market experienced a downturn, Dogecoin founder Billy Markus, known online as "Shibetoshi Nakamoto," offered a humorous take. In a tweet, he said: "I liked crypto about 10% better yesterday."

Markus, who frequently posts sarcastic observations on the crypto industry, has remained a vocal skeptic of speculative trading. He previously compared day-trading to "a mental illness" and often questions the reliability of market predictions.

Moreover, Markus doesn't hold a significant amount of Dogecoin. Back in 2015, he sold most of his DOGE holdings to buy a used Honda Civic. As of now, he says he only has a "tiny bit" of DOGE and 0.001 BTC.

Despite the weekend drop, some analysts believe the Dogecoin network and its strong community could help DOGE recover in the near term—provided external market conditions stabilize.

From a technical perspective, the current support zone around $0.15 remains key. If the DOGE price holds above this level and broader sentiment improves, a recovery toward the $0.25–$0.29 range may be possible. However, if macroeconomic pressure persists, Dogecoin investors may see further pullbacks before stabilization.

Crypto analyst platforms suggest that upcoming economic indicators, such as inflation data and monetary policy shifts—could play a major role in determining whether a Dogecoin rise is on the cards or if this recent downturn deepens into a prolonged Dogecoin challenge.