Dogecoin's price has dropped over the past month, crashing 30% to its lowest price in four months.

This comes after a wild week in the crypto market, sparked by Donald Trump's announcement of a “crypto reserve” plan, which briefly sent prices soaring.

Dogecoin's price has fallen sharply over the past month, decreasing by 30% to its lowest level in four months. In the past week alone, the cryptocurrency has declined by 20%, and in the last 24 hours, it has dropped nearly 10%, further reducing its current price to about $0.1735. As a result, the market cap has shrunk to $25.75 billion, while trading volume has surged to $2 billion as traders react.

This follows a wild week in the crypto market, triggered by Donald Trump's announcement of a "crypto reserve" plan, which briefly sent prices soaring. However, the excitement didn't last. Bitcoin has decreased by nearly 4% to $83,250, erasing its Trump-related gains, and Ethereum has followed a similar trajectory.

Dogecoin, however, has been hit even harder, sliding faster than most of the other top cryptocurrencies. It wasn't long ago that Dogecoin was riding high on post-election optimism. When Trump took office in January, he introduced the Department of Government Efficiency (DOGE), an initiative focused on modernizing government operations. The name alone gave Dogecoin a bizarre but undeniable boost, driving its price from around $0.15 in November 2024 to over $0.47.

At its peak, Dogecoin's market cap soared past $60 billion. Elon Musk's backing also played a big role, as his history of hyping Dogecoin helped push it to record highs before, and his continued support kept enthusiasm alive. However, that momentum has faded rapidly.

Over the past three months, Dogecoin has shed more than 40% of its value, with selling pressure increasing as investors cash out. In the past 24 hours alone, a staggering $21.94 million worth of Dogecoin has been liquidated, with $18.51 million coming from traders betting on the price to rise and $3.43 million coming from those shorting it.

Despite the significant price drop, Dogecoin remains one of the top 10 cryptocurrencies. As new investment options like ETFs are expected to attract more interest in Dogecoin, platforms like Bitwise have already applied for a Dogecoin ETF, and Grayscale has launched a Dogecoin Trust. Experts predict a 75% chance of these Dogecoin investments being approved this year, which could bring in more buyers and stabilize the price.

For now, Dogecoin is facing headwinds as the hype from Trump's win has died down, Musk's influence seems weaker, and the sell-off shows no signs of stopping. Unless something shifts, Dogecoin could be in for an even rougher ride ahead in the coming months.

Solana (SOL) has dropped 33% in the past month as it struggles to stay above the $130 support level. The token has encountered strong resistance at the $150-$160 band, leading to a decline back towards key support.

A break below $130 could open the door for further drops to the next support at $100, which is the 50% Fibonacci retracement level of the 2023 uptrend from the January low to the August high.

On the other hand, if the bulls can push the price above the $160-$150 resistance, it could clear the way for a move towards the next resistance at the 38.3% Fibonacci retracement level, around $180. A successful breach of this level might set the stage for a recovery towards the 261.8% Fibonacci, which is located at $240.

In the cryptocurrency market, traders are keeping a close eye on any shifts in momentum as major tokens like Bitcoin and Ethereum show signs of stabilization following the recent sell-off.

As of the last 24-hour price update, Bitcoin is trading at approximately $83,250, while Ethereum has risen slightly to around $1,800. Both tokens are still showing signs of recovery after erasing some of the gains that followed Donald Trump's announcement of a "crypto reserve" plan.

On the other hand, Dogecoin has been hit harder and is sliding faster than most of the other top tokens. The token is currently changing hands at around $0.1735.

In the past 24 hours, traders have liquidated $21.94 million worth of Dogecoin, with $18.51 million coming from those betting on the price to rise and $3.43 million coming from those shorting it. This has reduced the market cap of Dogecoin to $25.75 billion and increased the 24-hour trading volume to $2 billion.

At its peak earlier this year, Dogecoin's price went as high as $0.47, and its market cap exceeded