Dogecoin, once a favorite among traders, is experiencing another downward spiral, reaching its lowest price in weeks.
Dogecoin (CRYPTO: DOGE) price is tanking again, hitting its lowest level in weeks.
What Happened: The meme coin fell 7% in the past 24 hours to $0.225, according to CoinGecko. Earlier, it hit $0.2239, which is dangerously close to its 2025 low of $0.2237, recorded earlier in February.
The entire meme coin market is seeing traders lose interest. A few months ago, Dogecoin soared to $0.48, thanks in part to Elon Musk hype. Now, the momentum has shifted, with DOGE dropping 16% over the past week.
According to market data, traders are losing interest in Dogecoin. Open interest, which represents active futures contracts, has now dropped to $2.16 billion, marking the lowest level of the year. This indicates a lack of confidence among investors in the meme coin’s future price action.
Dogecoin’s fate remains uncertain as the crypto market experiences broader declines. Bitcoin (CRYPTO: BTC), the leading digital asset, fell 1% over the past 24 hours and is now trading at $94,557. Solana (CRYPTO: SOL), another major player, dropped more than 8% to around $154.
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