Dogecoin (DOGE) has faced a steep price crash today and is trading in the red zone across all time frames. According to CoinGecko statistics, DOGE’s price has fallen 7.2% in the last 24 hours, 9.6% in the last week, 15.6% in the 14-day charts, 3.3% over the previous month, and 68.4% since January 2025. Let’s discuss why DOGE is down, and if you should buy the dip now, or wait for prices to fall further.
Why Did Dogecoin’s Price Crash? Should You Buy The Dip?
Dogecoin’s (DOGE) latest price correction comes amid a larger market dip. According to CoinGlass data, the crypto market has faced nearly $870 million worth of liquidations in the last 24 hours.
Dogecoin (DOGE) and the larger market correction could be due to rising tensions between the US and other NATO allies. President Donald Trump has said that the US needs to take over Greenland, citing national security concerns. France, Germany, and other NATO countries have offered support to the Danish Kingdom to defend Greenland against the possibility of a US invasion. The US has announced additional tariffs for countries supporting Greenland. Investors are likely worried about the ongoing situation and are pulling out their funds from risky assets.
While Dogecoin (DOGE) and the larger crypto market face price corrections, metal prices seem to be going up. Gold and silver have hit new all-time highs as investors opt for safe havens instead of risky assets.
Also Read: US Crypto Act Treats Dogecoin Like Bitcoin: DOGE Rally Coming?
Dogecoin (DOGE) is a memecoin and carries some of the highest risks in the finance market. Hence, the asset may face a prolonged period of decline. DOGE’s price is unlikely to make any positive movements until the larger economy and the ongoing geopolitical tensions cool off. However, the low prices could be a good opportunity to stock up on the memecoin.