8-4-2025 – In a dramatic turn of events last Monday, dubbed ‘Black Monday’, the cryptocurrency market witnessed a significant downturn, with Dogecoin bearing considerable brunt of the market turbulence. The popular meme-inspired digital currency, currently trading at $0.1519, showcased modest recovery from recent volatility, though remaining well below its historical peaks.
The fallout particularly affected Dogecoin’s decentralised finance (DeFi) ecosystem, with total value locked plummeting to $2.72 million, marking its lowest point since 2023. SoSo Value Indexes, a prominent Dogecoin-focused DeFi index, recorded a substantial monthly decline of 26.37%. Similar downward trajectories were observed across other key platforms, with Boring DAO and Thorchain experiencing respective drops of 24.04% and 20.16%.
Amidst the broader cryptocurrency sell-off, a curious anomaly emerged in the memecoin sector. Whilst Dogecoin grappled with a 23.78% monthly decline and Shiba Inu faced an 11% drop within 24 hours, Pepe demonstrated remarkable resilience, achieving a 3.49% gain during this tumultuous period.
Market analysts noted a significant spike in Dogecoin liquidations, surging by 68.62% over 24 hours. This heightened activity suggests active position adjustment among traders, potentially indicating strategic movements in anticipation of market rebounds.
A notable transaction of 300 DOGE, whilst modest in value, symbolised the broader market sentiment of uncertainty. However, despite the current bearish climate, long-term enthusiasts maintain cautious optimism, citing the currency’s robust community support and established market presence as potential catalysts for future recovery.
