**Introduction**
In the past 24 hours, the price of Dogecoin (DOGE) has experienced a significant pullback, with a decline of over 5%. This price fluctuation has triggered a surge in Dogecoin’s trading volume, accompanied by large-scale liquidation activities. This change is primarily influenced by the Federal Reserve’s hawkish stance, leading to strong bearish sentiment in the market towards meme coins like Dogecoin. This article will delve into the reasons behind the decline in Dogecoin’s price, market reactions, and future price trends.
**Latest Price Trends of Dogecoin (DOGE)**
**DOGE (Dogecoin)**
**NO.33**
**Dogecoin Concept**
**$0.32277**
**-$0.03795**
**-10.52%**
**Real-time Data · 12:51:57**
**$0.36734** 24H High
**$0.30001** 24H Low
**$0.73757** All-time High
**$0.0000855** All-time Low
**28.65 billion** 24h Trading Volume
**9.24 billion** 24h Transaction Amount
**129.62 billion** Total Supply
**47.58 billion** Market Cap
**+22.44%** 24h Volatility
**147,274,276,383.71** Circulating Supply
**$0.38431** Previous Open
**$0.35193** Previous Close
**0%** Circulation Rate
**K-line Trends**
**All**
**24H**
**7 Days**
**30 Days**
**Last 3 Months**
**Last Year**
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“`javascript
function getTjList(start, interval, type) {
let url = ‘/e/extend/api/index.php?m=v2&c=kline&coin=binance_DOGE_USDT&id=8’;
$.ajax({
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data: ”,
type: ‘post’,
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dataType: ‘json’,
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klineData = resdata;
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function initKline(type) {
let typeStr = type ? type : ‘all’;
const periodTypeList = {
‘all’: 3,
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const coinName = ‘DOGE’;
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return {
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low: item.l,
high: item.h,
open: item.o,
close: item.c,
volume: item.v,
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const exchange = “528BTC”;
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periodType,
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description: tradePair,
type: “528btc”,
exchange,
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symbol: `${exchange}:${tradePair}`,
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container: `tvChart`,
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to: historyData[0].time / 1000,
};
const widget = generateTradingViewAndMount(config);
widget.onChartReady(() => {
const chart = widget.chart();
chart.setVisibleRange(visibleRangeOption);
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}
// … existing code …
“`
“`javascript
function changeKline(type) {
type = type;
const currentTimeStamp = Date.now();
const oneDayAgoTimeStamp = currentTimeStamp – (24 * 60 * 60 * 1000);
const sevenDaysAgoTimeStamp = currentTimeStamp – (7 * 24 * 60 * 60 * 1000);
const oneMonthAgoTimeStamp = new Date().setMonth(new Date().getMonth() – 1);
const threeMonthsAgoTimeStamp = new Date().setMonth(new Date().getMonth() – 3);
const oneYearAgoTimeStamp = new Date().setFullYear(new Date().getFullYear() – 1);
const time = {
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const interval = {
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‘d’: ‘5m’,
‘w’: ‘1h’,
‘m’: ‘1h’,
‘3m’: ‘1d’,
‘ydt’: ‘1d’,
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if (tabIdx == 1) {
getTrendLine(type);
return;
}
getTjList(time[type], interval[type], type);
}
// … existing code …
“`
“`javascript
function getTrendLine(type) {
$.getJSON(‘https://bullrunflash.com/e/extend/api/index.php?m=news&c=kdata&type=’ + type + ‘&id=8&cid=8’, function (data) {
var T = [];
var u = [];
var b = [];
var a = [];
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data.data.forEach(item => {
let [time, ui, bi, ai, vi] = item;
u.push([time, ui]);
b.push([time, bi]);
a.push([time, ai]);
v.push([time, vi]);
});
chart1 = Highcharts.stockChart(‘trendChart’, {
chart: {
zoomType: ‘x’,
height: 520,
width: 780 },
colors: [‘#5984FB’, ‘#AE5CCC’, ‘#F7D049’, ‘#777’,
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day: ‘%Y-%m-%d %H:%M’,
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title: {
text: ‘Trend’,
style: {
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},
visible: false,
// … existing code …
“`### Surge in Dogecoin Trading Volume and Liquidation
According to CoinMarketCap data, Dogecoin’s trading volume has surged by 57% in the past 24 hours, surpassing $6 billion. This increase was mainly due to the sharp decline in Dogecoin’s price, prompting investors to hastily sell off their tokens. At the same time, data from Coinglass shows that Dogecoin’s liquidation volume has also spiked to over $54.17 million, liquidating a significant amount of both long and short positions. Among these, the liquidation of long positions amounted to $43.3 million, while short positions were liquidated for $10.87 million.
These fluctuations can be partially attributed to remarks made by Federal Reserve Chairman Jerome Powell. In his speech, Powell hinted that the Federal Reserve may pause interest rate cuts, which directly triggered market concerns over risk assets, particularly meme coins like Dogecoin. As Dogecoin’s price dropped below the critical support level of $0.40, long positions were heavily impacted, and market sentiment turned sharply negative.
### Fed’s Hawkish Remarks Spark Market Panic
Powell’s speech raised concerns about inflation and unemployment rate forecasts for 2025, leaving many investors uneasy about the future economic outlook. For highly volatile assets like Dogecoin, macroeconomic factors often exert a substantial influence. With the Fed’s hawkish stance, expectations of further rate hikes have intensified, leading to widespread selling of risk assets.
According to industry data from CoinGecko, while Dogecoin’s price was falling, Bitcoin (BTC) also dropped below the psychological threshold of $100,000, further exacerbating bearish sentiment in the market. As one of the major cryptocurrencies, Dogecoin’s price is closely linked to Bitcoin’s movements, so Bitcoin’s weakness has further dragged down Dogecoin’s performance.
### Correlation Between Dogecoin and Bitcoin
Cryptocurrency analyst Kevin Capital points out that Dogecoin’s price trend largely depends on Bitcoin’s performance. There is a strong correlation between Dogecoin and Bitcoin, especially during periods of market volatility, when Dogecoin’s price typically follows Bitcoin’s movements. Therefore, analyzing Bitcoin’s price changes is an important reference for predicting Dogecoin’s future price trends.
Although the current Bitcoin trend is bearish, Kevin Capital believes that Dogecoin will recover after a price correction and recommends that investors buy during low points. However, in the short term, whether Dogecoin’s price can rebound will still depend on whether Bitcoin can experience a strong recovery.
### Increased Volatility: Dogecoin Market’s Period of Turbulence
Cryptocurrency analysts, including Master Kenobi, suggest that Dogecoin’s price volatility is a common phenomenon in the later stages of a cryptocurrency bull market. Despite experiencing a correction, the long-term trend for Dogecoin remains positive, particularly in the current bull market cycle. Historically, Dogecoin has gone through similar pullbacks, followed by rapid rebounds. Kenobi emphasizes that while the RSI (Relative Strength Index) indicates that the market might decline further, Dogecoin’s market cycle still holds great potential.
It’s worth noting that Dogecoin’s current RSI level is around 43, suggesting that the short-term trend may still face some pressure. Analysts predict that if the RSI returns to the overbought zone, Dogecoin could experience a new price surge.
### Market Sentiment and Future Outlook for Dogecoin
Despite the current negative market sentiment, Dogecoin continues to maintain a strong position in the market. According to CoinMarketCap, Dogecoin’s market capitalization remains at $47.6 billion, making it the seventh-largest cryptocurrency. While Dogecoin’s price has fallen 35% from its 2024 peak of $0.47, it remains an important player in the cryptocurrency market.
For long-term holders, analysts advise against rushing to sell, instead suggesting patience and waiting for the market to recover. Kevin Capital believes that although more downward pressure may appear in the short term, the long-term prospects for Dogecoin remain positive, especially as the cryptocurrency market gradually enters a new favorable cycle.
### Conclusion
The recent price fluctuations of Dogecoin highlight the market’s heightened sensitivity to macroeconomic signals, particularly shifts in Federal Reserve policy. With the continued influence of the Fed’s hawkish stance, high-risk assets like Dogecoin may remain under pressure. However, looking ahead, the long-term market prospects for Dogecoin remain promising. Investors can better seize opportunities by analyzing the correlation between Bitcoin and Dogecoin, and by keeping an eye on the macroeconomic environment of the cryptocurrency market.
The current market volatility provides long-term Dogecoin investors with an opportunity to buy at lower prices, while short-term traders should remain cautious and follow market trends for the most rational strategy.
