Dogecoin Falls 3% in 24 Hours Due to U.S. Tariff Concerns

Dogecoin (DOGE) experienced a 3% price drop in the last 24 hours, mirroring a broader market shift in sentiment influenced by US tariffs. Unlike Bitcoin (BTC) and Ethereum (ETH), which maintained their positions, DOGE failed to capitalize on the previous day's gains amid growing US recession fears.

The current Dogecoin price is $0.1604, with a 24-hour trading volume of $897.96 million. According to CoinMarketCap, DOGE is down 3.09% over the past 24 hours, and its market capitalization stands at $23.89 billion.

Dogecoin Price Chart – Source: CoinMarketCap

Betting markets have increased the probability of a US recession in 2025 to between 40% and 60%, contributing to widespread market uncertainty. Despite this, Augustine Fan, head of insights at SignalPlus, suggests that cryptocurrencies could benefit from the volatility in traditional equities. He stated, "Crypto has demonstrated greater stability compared to stocks, and Bitcoin's 'store of value' narrative is gradually regaining traction." As tariff concerns subside, a cautious optimism prevails, suggesting the worst may be behind us.

Some analysts anticipate improved US trade relations with other countries, driven by ongoing negotiations. However, the overall cryptocurrency market remains uncertain, with many traders awaiting further developments.

Dogecoin is currently testing key support at $0.15. A breach below this level could lead to a price target of $0.13. Conversely, surpassing $0.18 could initiate a move towards $0.21.

The coming weeks will be crucial for Dogecoin. Improved sentiment and a diminished recession threat could trigger a trend reversal. Currently, the focus remains on US trade policies and their impact on the cryptocurrency market.