Dogecoin Volume Remains Low as Price Drops, Analyst Says Another Price Rise is Coming

Dogecoin has seen a significant fall in trading volume since reaching a two-year high in November 2024. This fall in trading volume has led to a major bearish in the price of DOGE, causing over 50% of the value of this meme coin to be lost in less than six months. With trading volume still low, it is likely that this price drop could continue and result in further losses for investors. The daily trading volume of Dogecoin is still below 5 billion dollars. Over the past four months, the daily trading volume of Dogecoin has experienced a steady fall in volume. The daily trading volume reached a high of over $60 billion on November 13, 2024, but by the end of March 2025, the daily trading volume had fallen below $3 billion, resulting in a trading volume drop of more than 90% in just four months. Since then, data from Coinglass shows that daily trading volume has increased slightly. However, this is not noteworthy as the daily average of Dogecoin has fallen below $5 billion throughout the month of April 2025 so far. This decline in volume also coincides with a price drop, indicating that unless there is a change in volume, the price of Dogecoin may continue to struggle.

Due to the price fall, buying traders suffered the most as the sellers regained control of the cryptocurrency market. On Sunday, with over 4 million dollars liquidated, more than 80% came from buying traders as the price drop increased due to bearish pressure. Most of this decline is due to Donald Trump's tariffs, causing the stock market to plummet the most since 2010. This has turned into a bearish market, with Bitcoin prices dropping to $80,000. Altcoins like Dogecoin naturally have to bear more losses due to their volatile nature as meme coins, and have fallen over 50% compared to Bitcoin's 25% drop. Not everyone is pessimistic. Despite the strong selling pressure engulfing the cryptocurrency market, optimism surrounding the price of Dogecoin continues to rise. One of those who remains steadfast in their optimism is cryptocurrency analyst Trader Tardigrade. In a previous post on X (, a cryptocurrency analyst pointed out the similarities with the cycles of 2016 and 2021 when the price of Dogecoin experienced notable movements. According to the chart, there have been similar formations indicating the potential for a price increase of DOGE.

If this trend unfolds as predicted, then the price of DOGE could increase by more than 1,500% as the cryptocurrency analyst has set a target of up to $2.1. The analyst stated: "Dogecoin is about to rise again."