Why DOGE traders moved $200M in 24 hours after Trump's auto tariffs announcement

Thursday, Dogecoin falls below $0.20, 2.4% below its 24-hour high.

Elon Musk-linked Tesla and DOGE suffered from Trump's 25% vehicle import tariff.

DOGE futures traders closed over $200 million, lowering open interest below $2 billion.

DOGE falls 4% as Trump's auto tariffs hurt Musk-linked assets.
Over the previous two trading days, US President Donald Trump's contradictory remarks have caused Dogecoin (DOGE) price fluctuations. Market responses to Trump's statements have shifted DOGE prices, increasing volatility.


The Dogecoin price dropped today. Why?

The cryptocurrency market rallied when Trump restated his support for the official TRUMP meme token on Monday. By Tuesday, memecoins like DOGE, PEPE, and SHIB had risen over 5%, raising their market valuation to $62 billion.

Tesla (TSLA) stock price after Trump announced car tariffs Wednesday | Source: NASDAQ Tesla (TSLA) stock price after Trump announced car tariffs Wednesday | Source: NASDAQ

The trend flipped on Wednesday when Trump proposed a 25% vehicle import duty beginning April 2.

Elon Musk told BBC that the measure may hurt Tesla's bottom line.

Tesla shares dipped 5% within 24 hours after the disclosure, rebounding 6% when markets started on Thursday.

As markets analyze Trump's planned tariffs, Dogecoin fell 2.4% on Thursday, reflecting adverse sentiment about Elon Musk assets.

Deeper analysis of Dogecoin's derivatives data shows traders aggressively withdrawing funds, reflecting more caution amid mounting volatility concerns.

Additional gloomy signs support this forecast. Volume fell 13.82% to $4.59 billion, indicating lower trading activity and liquidity.

The 24-hour long/short ratio is 0.9673, indicating short sellers are gaining footing, pushing prices.

The previous 12 hours have seen $1.3 million in liquidations for long traders, while shorts have only lost $739,620, suggesting that long holdings are being unwound faster.

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