Dogecoin (DOGE) has been in free fall for weeks, leaving investors wondering how much further it can drop.
With liquidations increasing, trading volume surging, and market sentiment turning increasingly bearish, analysts are now speculating about a disturbing possibility—could DOGE devalue so much that it adds another zero to its price before the end of March 2025?
How the downtrend of Dogecoin will destroy its price stability.
The downtrend of Dogecoin continues to be severe and persistent.
In the past month, this meme coin has dropped 38%, and as of this writing, its price is $0.16.
DOGE is one of the top cryptocurrencies most severely affected in the current market slump, losing 20% of its value in just one week.
These numbers paint a disturbing picture. Over the past 24 hours, more than $21.94 million in Dogecoin positions have been liquidated, with $18.51 million coming from long positions—strongly suggesting that traders expecting a rebound are being wiped out.
Dogecoin's market cap once soared to over $60 billion but has since plummeted to $23.86 billion.
Meanwhile, trading volume remains at $2.6 billion, raising warnings that panic selling could accelerate.
Is Dogecoin's price about to add another zero?
A few months ago, fueled by post-election excitement and Elon Musk's continued support, DOGE soared above $0.47.
However, as Bitcoin (BTC) failed to hold the $100,000 milestone, the entire market is impacted, with meme coins taking the hardest hit.
Analysts are worried that if the current downtrend continues, DOGE could fall below $0.10, potentially causing its price to return to zero and leading to severe market chaos.
Although speculation about Bitwise or Grayscale potentially launching a Dogecoin ETF continues, it may not be enough to save Dogecoin from further declines.
