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Cryptocurrency News Articles
Dogecoin (DOGE) Has Lost Nearly All of Its Gains Since President Donald Trump's Election Victory
Feb 28, 2025 at 12:50 am
input: Dogecoin has lost nearly all of its gains since President Donald Trump's election victory, with its price now hovering just above $0.2095
Dogecoin (CRYPTO: DOGE) has nearly lost all of its gains since President Donald Trump’s election victory. The meme coin is currently trading just above the $0.2095 mark, according to TipRanks data.
Dogecoin had soared to an all-time high of $0.48 in December, boosted by Trump’s crypto-friendly stance and optimism. However, it has since dropped significantly, making it one of the worst-performing major cryptocurrencies in recent weeks.
Why Is Dogecoin Plummeting?
The broader crypto market has taken a hit due to fears over trade tariffs, inflation, and recent meme coin scams, as reported by MarketWatch.
Trump’s own $TRUMP memecoin has collapsed 82% from its peak, while Melania Trump’s token has fallen 93%, further shaking investor confidence.
Elon Musk’s Involvement
Dogecoin’s decline also comes as Elon Musk, one of its biggest supporters, clarifies that he is not actively involved in crypto.
As reported by Blockworks, Musk stated, “I’m not advising anyone to buy crypto or bet the farm on Dogecoin.” His past endorsements helped propel DOGE to mainstream status.
However, Musk’s recent disinterest has left traders uncertain about what will drive the meme coin in the long term.
Congressman Pushes for Memecoin Restrictions
In response to concerns about politicians profiting from crypto, Representative Sam Liccardo (D-Calif.) has introduced the MEME Act, which would ban public officials from issuing or endorsing meme coins, according to AP News.
This bill follows the creation of a Trump-branded token that surged in price shortly after the president’s election victory.
As meme coins face mounting skepticism, investors are re-evaluating their long-term potential in a market that is becoming increasingly reactive to regulation and real-world utility.
To stay informed on the latest crypto trends, investors can track cryptos on the TipRanks Cryptocurrency Center. As of Monday’s morning session, Dogecoin had dropped by 1.2%.
Disclaimer:info@kdj.com
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- 95% of Dogecoin (DOGE) Network Activity Has Disappeared, Suggesting Considerable Decline in Activity
- Feb 28, 2025 at 10:55 am
- Dogecoin, the industry’s premier meme coin, has consistently led most altcoins in price performance in recent months. However, it faces its toughest challenge amidst falling network activity and a price slump.
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- Shiba Inu’s Burn Rate Slows, But This Fast-Emerging Crypto Implements Self-Learning Tokenomics for 6,900% Gains
- Feb 28, 2025 at 10:45 am
- Shiba Inu faces fluctuations in its burn rate, hinting at an uncertain future. As such, investors watch out for potential price surges as the community slows down its burning rate to stabilize supply.
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- Despite recent declines to $0.209 due to intense bearish pressure, Dogecoin's price action may be determined by three key support levels in the future.
- Feb 28, 2025 at 10:45 am
- According to the current price chart, these levels are based on past local peaks, which have a history of serving as areas of high demand during corrections.
