Dogecoin, which is a major cryptocurrency, was one of those hardest hit by the tech stock crash on Monday.
On Monday, the price of Elon Musk’s favorite meme coin and O.G. meme coin and Elon Musk favorite fell below the $0.31 mark on Monday—the lowest price seen for DOGE so far in 2025. Dogecoin's price now stands at $0.33 per coin, after a 24-hour dip of just under 5%, CoinGecko shows.
Dogecoin, the largest coin and token by market capitalization is currently one of the worst performers. Solana, Cardano and Solana are the two cryptocurrencies that have dropped more amongst the top 10, with SOL (SOL) down by 6% while Cardano(ADA) has fallen by 5%.
Elsewhere in the top 100 coins, the biggest losers include Pudgy Penguins (PENGU) with a 16% plunge alongside the launch of its parent company's new Ethereum layer-2 network Abstract, as well as Solana Swap (SOS) with its own 16% fall and notable meme coin Pepe with a 10% decline.
Donald Trump's official meme coin TRUMP also fell Monday alongside the Solana network that plays host to it. TRUMP fell just below $25 per coin on Monday—the lowest price registered in more than a week—though it has rebounded to $27.30, down more than 2% on the day.
Meme coins—highly speculative cryptocurrencies based on internet jokes or culture—often experience the most volatility when Bitcoin takes a hit, and that was again the case on Monday.
Dogecoin has risen by over 312% in the last year. It gained popularity when billionaire CEO of Tesla and SpaceX, Elon Musk, said that he was a fan.
The majority of crypto markets are in red today after Chinese Artificial Intelligence startup DeepSeek launched a new large-language model that is open source at the weekend.
Investors quickly sold their shares in American AI companies, citing the fact that the Chinese version used less resources than American products to produce a product of comparable quality.
Crypto currency has traded largely in parallel with stock markets in the U.S. "risk-on" Assets that have a tendency to experience large price fluctuations.
Bitcoin has dropped by approximately 3% in the last day. Last week at this time, the price of bitcoin reached a record high of $108,786.
Andrew Hayward edited the book
