Dogecoin (Cryptography: Doge) It’s heading down again with Tuesday’s deal. Cryptocurrency token prices fell 4% as of 5:30pm. At the same time, Bitcoin had a 2.6% decrease from the last day, and Ethereum had a 6.1% decrease.
Dogcoin valuations have declined as investors respond to new tariffs set to take effect after midnight tonight. In particular, investors are worried about fallout from China’s tariffs. The Trump administration today confirmed that tariffs on products imported from China will be set at 104%.
Possible negative macroeconomic impacts from tariffs have led investors to reduce their holdings of stocks and cryptocurrency. Dogecoin token prices have fallen by about 52% this year in transactions.
DogeCoin has seen a massive valuation drawback in a relatively short period of time, but remains a very risky investment. As a meme coin, Dogecoin already tends to see big pricing with little or no real news. With macroeconomic outlooks currently flowing, cryptocurrency continues to see dramatic sales despite token prices being cut more than half this year.
A massive sale could potentially see a big return for investors buying dogcoin at today’s prices, but they were refraining from purchasing tokens until more visibility was generated on the tariff front. As a highly speculative investment without fundamental methods, Dogecoin’s valuation could continue to plummet if macroeconomic and geopolitical conditions worsen. In general, I think investors will be best focused on quality investments with a healthy foundation until some of the current macro counsents lift.
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