As of May 29, 2025, Dogecoin (DOGE) is trading at approximately $0.2227, reflecting a slight decline of 1.75% over the past 24 hours. The cryptocurrency has experienced a 2.97% decrease in price over the last 24 hours, with a trading volume of around $1.19 billion and a market capitalization of approximately $32.68 billion .
Market Trends
Dogecoin's price has been relatively stable, maintaining a range between $0.22 and $0.23 in recent days. However, some analysts predict a potential short-term decline, with machine learning models forecasting a drop to around $0.217 by May 29 . Conversely, other market experts anticipate a bullish breakout, suggesting a possible rally to $0.31, representing a 29% increase from current levels .
Political Developments
In political news, Elon Musk has concluded his tenure as a Special Government Employee leading the Department of Government Efficiency (DOGE), a federal initiative aimed at reducing government spending. Musk expressed gratitude for the opportunity and emphasized that the mission of DOGE would continue to strengthen over time . Additionally, the White House plans to propose a $9.4 billion package of spending cuts identified by DOGE, targeting programs deemed wasteful or outdated .
These developments have not significantly impacted Dogecoin's market performance, as the cryptocurrency continues to be influenced more by broader market trends and investor sentiment.
