Dogecoin (DOGE 1.56%) is pulling back amid another day of bearish trading for the crypto market. The popular meme coin had fallen 5.8% over the past 24 hours as of 5:10 p.m. ET. Bitcoin had fallen 3.1% over the last day, and Ethereum was down 5.1%.
Crypto valuations have continued to waver as investors try to determine what potential catalysts on the near horizon might rejuvenate bullish momentum. While it's likely that the Federal Reserve will serve up at least one more rate cut this year, some rising risk factors have caused investors to adopt more risk-averse positioning.
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Dogecoin slumps as crypto investors take profits
In the face of macroeconomic and geopolitical risk factors, top cryptocurrencies are getting hit with sell-offs. Big valuation swings in the crypto market are hardly unusual, and leading tokens have recently seen some pronounced pullbacks on the heels of big gains earlier in the year. Bitcoin is still up roughly 61% year to date despite recent pullbacks, and Ethereum is still up 45%. Meanwhile, Dogecoin remains up approximately 35% across 2025's trading, despite some recent sell-offs.
CRYPTO: DOGE
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What's next for Dogecoin?
While inclusion in new exchange-traded funds and increasing integration into cryptocurrency treasury strategies will likely play significant roles in Dogecoin's pricing trends through the remainder of the year, momentum for the broader crypto market could be the biggest factor when it comes to shaping whether the token ends the year above or below current valuation levels.
Along those lines, developments in the trade war between the U.S. and China could play a big role in determining just how much risk investors are willing to embrace. Whether or not the Federal Reserve delivers on hopes for two additional interest rate cuts this year will also play a big role in Dogecoin's pricing trajectory.
