Dogecoin, the original and biggest meme coin, has seen a significant decline in value, losing over one-third of its value in the past 30 days. After reaching a high of $0.48 following President Trump's win last November, it is now trading at $0.166. The cryptocurrency has also experienced a drop in derivatives interest, with open interest now at $1.37 billion, significantly lower than its peak at $5.28 billion. The recent market turbulence and President Trump's announcements regarding trade tariffs have contributed to the decline in value. Additionally, the increasing political connection, including Elon Musk's involvement with the Department of Government Efficiency named after Dogecoin's ticker, has divided the coin's supporters. The SEC has delayed making a decision on a Dogecoin exchange-traded fund (ETF) application by Grayscale, further impacting the coin's prospects.



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