The stock market has successfully started approximately in 2025. On March 4, the S&P 500 And Nasdaq Composite fell by 1.5% and 5.2%, respectively.
In general, when the stock market works badly, investors can transfer their funds to alternative assets such as basic products or cryptocurrency. However, so far, this year, cryptographic markets have not been too lush either. The first two cryptocurrencies, Bitcoin And Ethereumfell 7% and 36%, respectively, and others followed in their wake.
Join his cohorts in the sale of crypto is Mastiff (Crypto: Doge). After increasing 251% in 2024, its price has sang 36% so far this year.
But is Buy the dip In Dogecoin now an intelligent idea?
Even if the price of Dogecoin increased considerably last year, the table below should help paint a clearer image as to what really happened with cryptocurrency. As you can see, the vast majority of Dogecoin gains in 2024 have taken place in the past two months of the year.
The increase in Dogecoin prices can be awarded to the presidential election. During the then Donald Trump campaign, Tesla The CEO, Elon Musk, has become a major substitute and a massive donor for the Republican candidate. One of the factors influencing Musk’s relationship with Trump was their shared opinion that the federal budget had become too swollen. Consequently, Musk launched the idea of creating a team focused on identifying unnecessary expenses that could be cut.
The name he and Trump gave this initiative: the Government Department of Effectiveness (DOGE).
If you take a look at its price board, you will notice that the Dogecoin price has actually started to fall towards the end of 2024. It has decreased by 53% since December 1.
If you have followed Musk before the elections, you may know that the entrepreneur jokingly approved Dogecoin several times in the past. It is likely that Musk’s comic affinity towards him played a role when a name was chosen for the cost reduction initiative. But in the end, DOGE is only an intelligent acronym. He has no tangible relationship with cryptocurrency.
In addition, Dogecoin remains a piece of memes with little or no use in real or digital worlds. In my opinion, the sale that started in December was the first domino to decrease. While investors were starting to think about the fact that the part had increased on pure media threw unrelated to all real catalysts, its bubble began to deflate.
