The bloodshed in the crypto market intensified on Thursday, with dogecoin down 21% in two days, while bitcoin and others declined further.
The last few days have been tough for the currency.
Dogecoin, the original meme coin and one of the most valuable cryptocurrencies on the market, started the year with a hot streak, rising from a price of $0.314 on Jan. 7 to near $0.40. But over the past two days, amid a broader market decline, DOGE lost every single one of those gains.
On Thursday, DOGE fell back to $0.314, down nearly 21% in about two and a half days. It has since risen slightly to $0.318 as of the time of this writing, but Dogecoin is still just a little ahead of the levels where it started the year.
Dogecoin is not the only coin to be falling sharply over the past few days. In fact, Bitcoin fell from a price above $100,000 on Tuesday to a daily low of $91,250 on Thursday, and at the time of this writing it has only risen slightly to $91,975.
DOGE isn’t even the biggest loser among the top 10 cryptocurrencies by market capitalization over the past week.
That honor goes to Solana, which has fallen 11% this week to its current price of $184 – its lowest price so far in 2025. Dogecoin and Bitcoin are both down around 6% this week, while Ethereum is down by nearly 8% at the time of this writing.
Bitcoin and other assets began to fall on Tuesday amid mixed economic data and fears of a slower interest rate cut in 2025, followed by Fed meeting comments on Wednesday that raised concerns over the ability to control US inflation under the incoming administration of President-elect Donald Trump.
Prices fell on Wednesday, apparently spooking investors who had invested in Bitcoin and Ethereum via ETFs. Both types of spot ETFs saw heavy withdrawals on Wednesday, as investors pulled out about $569 million from Bitcoin ETFs and $159 million from Ethereum funds.
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