title: Dogecoin (DOGE) Price Prediction: Midterm Targets

As Bitcoin price BTC $82 879 24h volatility: 11.0% Market cap: $1.64 T Vol. 24h: $55.82 B led the wider crypto market in bearish sentiment, triggering a forced leveraged liquidation of more than $1 billion, the memecoin industry, led by Dogecoin

The memecoin industry, notably Dogecoin (CRYPTO: DOGE), faced substantial setbacks as Bitcoin price led the broader crypto market in bearish sentiment on Tuesday,

The post Billion Dollar Leveraged Liquidation Triggers 20% Drop In Memecoin Industry Value As Crypto Reacts To US Tariffs appeared first on Benzinga.

Bitcoin price slid further in the Asian trading session on Tuesday, continuing the sell-off from the previous session as the US dollar soared in reaction to the escalation of the US-led tariff trade wars. The broader crypto market also moved in tandem with Bitcoin, triggering a forced leveraged liquidation of more than $1 billion in the past 24 hours.

The memecoin industry, led by Dogecoin, was heavily impacted by the crypto market downturn. The total market cap of the memecoin industry dropped by around 20% in the past 24 hours to hover about $57 billion at the time of this writing.

Dogecoin price wiped out all the gains made over the weekend on Monday after the United States President Donald Trump announced a strategic crypto reserve. The large-cap memecoin, with a fully diluted valuation of about $28.5 billion and a daily average trading volume of around $2.68 billion, dumped over 12% in the past 24 hours to trade about $0.192 on Tuesday.

Midterm Targets For Dogecoin Price

From a technical analysis standpoint, the Dogecoin price has been trapped in a correction mode in the past three months but remains in a macro bullish trend. In the weekly timeframe, DOGE price has been trading below a crucial support range between 19 cents and 21 cents.

The weekly Relative Strength Index (RSI) dropped below 50%, signaling the bears are in control. Consequently, DOGE price is likely to drop 23% toward the support level around $0.145, which coincides with the 0.786 weekly Fibonacci Retracement.

Meanwhile, crypto analyst Ali Martinez believes that DOGE price is preparing for a major uproar towards $4 if the buyers hold the support range between $0.16 and $0.19.

Fundamental Outlook

As the second largest digital asset secured via the legendary proof-of-work (PoW) consensus method, the Dogecoin network has attracted significant attention from both retail and institutional investors in the past years. Backed by tech billionaire Elon Musk, the dog-themed memecoin has remained relevant over the years amid the significant uprising of new memes on different chains led by Solana (SOL).

On Monday, the New York Stock Exchange Arca filed a proposed rule change to list and trade shares of Bitwise Asset Management Dogecoin exchange-traded fund (ETF). According to the US SEC filing, Coinbase Global Inc (NASDAQ:COIN) will act as Dogecoin custodian, while the Bank of New York Mellon will act as the cash custodian.

The approval rate of a spot DOGE ETF in the United States remains high under the Trump administration, which has already dropped several cases and investigations against crypto firms. According to Polymarket, the odds of a spot Dogecoin ETF approval in the United States by the end of this year surged by 29% in the past 24 hours to about 66%.

As a result, on-chain data shows that whale investors, with a balance of between 100 million and 1 billion coins, added 1 billion DOGE units in the last 3 days, thus currently holding around 25.3 billion.

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