D.O.G.E. Meme Coin Named After the Department of Government Efficiency Drops 30% in a Month, but Traders See a Possibility for the Meme Coin to Bounce Back

Prominent trader Unipcs noted on Twitter on Friday that D.O.G.E> did not perform as expected due to the launch of Trump

The D.O.G.E. meme coin, named after the Department of Government Efficiency, fell 30% in a month, but traders still see a possibility for the meme coin to recover.

Prominent trader Unipcs noted on X on Friday that D.O.G.E> did not perform as expected due to the launch of Trump TRUMP/USD, which pulled liquidity from the broader meme coin market—including Dogecoin DOGE/USD itself.

Before TRUMP's debut, both Doge-related meme coins appeared poised for new highs, but liquidity rotation and "sell-the-news" sentiment led to a major drawdown.

Over the past month, D.O.G.E> has dropped 30%, while Dogecoin is still up 4%.

The trader noted that D.O.G.E., unlike most election-based meme coins, has a strong, lasting narrative that should continue gaining steam throughout Trump's administration.

Elon Musk's continued involvement in the meme further adds to its credibility and potential staying power.

He also highlighted several potentially bullish factors, such as on-chain metrics, with over 4,200 new holders in the past week across Ethereum and Solana, record-breaking volume during the sell-off and a strong, dedicated community and team.

While short-term price action has been weak, the underlying fundamentals remain strong, according to Unipcs.

See More: If You Invested $10 In TRUMP Meme Coin When It Launched, Here’s How Much You Could Have Made

Trump Meme Coin Surges 500% In 24 Hours, But What's Next For The Meme Coin?

Since launching in mid-January, the TRUMP meme coin has surged to a $5.2 billion market cap with $1.88 billion in 24-hour trading volume, quickly joining the ranks of DOGE, Shiba Inu and Pepe.

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