Dogecoin has fallen nearly 11% in the last 24 hours, reaching its lowest price since early November to $0.17, falling 30% last month. The decline comes as major cryptocurrencies erased profits made last week after President Donald Trump announced plans for US crypto sanctuaries. Bitcoin, Ethereum, XRP and Cardano are all falling sharply, with some transactions below pre-announcement levels.
Bitcoin fell nearly 6% to $80,000, erasing last week’s surge. Ethereum is down at the same rate, but XRP fell by more than 7% to $2.18. Another cryptocurrency Trump mentioned, Solana, fell 3% to $133. Cardano fell 8% to $0.744 on the past day, but remains at 7% for the month following last Sunday’s spike.
The turmoil in the crypto market follows Trump’s executive order, establishing strategic Bitcoin reserves and another digital asset stockpile. Under the order, the US Treasury will seize Bitcoin from criminal and civil litigation as it could allow more acquisitions in the open market. The policy shift initially increased prices, but then brought about uncertainty.
Trump’s trade policy has also made financial markets unstable. His reversal against tariff plans has caused confusion among stock traders, contributing to one of the S&P 500’s worst weeks in months. Bitcoin, which is volatile alongside the traditional market, has swayed between $94,770 and $80,126 over the past seven days. It is currently trading at around $82,250 after rising below 1% this week.
The coins in memes are particularly affected. Dogecoin suffers the most, but Trump’s own Trump token regarding Solana has also fallen sharply since its peak in January. Meanwhile, Libra, a cryptocurrency promoted by Argentine President Javier Mailey, is facing a major backlash.
Market instability has led to widespread liquidation. According to Coinglas, $276 million worth of crypto futures jobs have been wiped out in the last 24 hours, with most losses coming from long positions.
Digital asset prices continue to fluctuate as traders react to policy changes and economic uncertainties. While some coins are above pre-announcement levels, the broader market remains volatile following ongoing speculation about Trump’s policy change and government next steps in crypto regulation.