Dogecoin’s decline to $0.073 wipes out its 2024 rally, signaling fading investor interest despite pro-crypto policies.
Dogecoin (DOGE) fell to $0.073 last week, its lowest level since 2023, erasing all gains made in 2024. The meme token’s market capitalization, once over $90 billion, has collapsed as speculative demand wanes.
The cryptocurrency peaked at $0.73 in 2021 but has trended downward since, failing to establish a stable use case. Unlike Ether, which powers decentralized applications, Dogecoin lacks fundamental demand drivers, relying instead on investor sentiment.
Analysts see no immediate catalysts for a rebound, raising concerns about further downside. The decline suggests pro-crypto policies under the Trump administration have not bolstered its value.