Dogecoin (DOGE) price dropped by 3% in the last 24 hours due to changes in the market sentiment due to the US tariffs. Despite this, Bitcoin (BTC) and Ethereum (ETH) held their ground, while DOGE failed to build on the previous day’s gains due to concerns of a looming recession in the United States.
Dogecoin is trading at $0.1604 with a 24-hour trading volume of $897.96M. Dogecoin is down 3.09% in the last 24 hours, according to CoinMarketCap, with a market cap of $23.89 billion.
Betting markets have increased the odds of a U.S. recession in 2025 to between 40% and 60%, fueling broader market anxiety. Despite these worries, Augustine Fan, head of insights at SignalPlus, suggested that crypto could benefit from the volatility in traditional equities.
“Crypto has seen higher stability compared to stocks, and Bitcoin’s “store of value” narrative is slowly regaining strength,” he explained. As tariff concerns ease, there is cautious optimism in the market that the worst may be over.
Some analysts believe that the trade relations between the U.S. and other countries could turn around soon due to the ongoing trade talks. However, the situation with the rest of the cryptocurrencies is still uncertain, and many of the traders are waiting for the outcome of the events.
Dogecoin is testing key support at $0.15. A break below this level could target $0.13. However, a break above $0.18 could pave the way for a move towards $0.21.
For Dogecoin, the next few weeks may turn out to be decisive. If sentiment improves and the recession threat is averted, then a reversal of the trend may be expected. For now, all the focus is still on the United States and its actions in the sphere of trade and its influence on the crypto market.
Also Read: US Govt May Use Tariff Revenue to Buy Bitcoin, Says Bo Hines
