Dogecoin Drops 4% in 24 Hours as Crypto Market Sheds $200bn

Dogecoin (DOGEUSD) fell by 4 per cent over the past 24 hours as extreme fear triggered fresh sell-offs across the cryptocurrency market, pushing prices lower amid heightened volatility.

At the time of writing, Dogecoin was trading at $0.1045, down sharply as trading activity surged. Data showed a 61 per cent increase in trading volume to $2.42 billion on Sunday, reflecting intensified selling pressure.

The latest decline extended Dogecoin’s weekly losses to more than 14 per cent, as altcoins once again came under heavy pressure. According to market data, DOGE’s price drop has taken its seven-day loss to about 14.05 per cent.

The broader digital asset market also weakened, with the total cryptocurrency market capitalisation falling to $2.63 trillion as investors rotated out of riskier positions.

The sell-off intensified on 1 February 2026, when the crypto market lost an estimated $200 billion in value. Bitcoin plunged by 12 per cent to around $75,000, its lowest level since April 2025. Ethereum declined by 13 per cent, XRP fell by 10 per cent, while Dogecoin mirrored the broader downturn, highlighting widespread risk aversion.

Dogecoin’s strong correlation with Bitcoin, estimated at 96 per cent, left it particularly exposed to the market-wide slump. Market indicators showed the Fear and Greed Index firmly in “Extreme Fear” territory, confirming panic-driven selling across the sector.

More than $2.5 billion worth of cryptocurrency positions were liquidated during the latest wave of sell-offs, with Dogecoin long positions accounting for over $13 million in losses within a matter of hours.

Liquidations added to downward pressure, as falling prices forced leveraged positions to close, triggering further selling. High Dogecoin futures trading volume, estimated at $200 million on BitMEX, amplified the move.

Technically, Dogecoin broke below a key support level at $0.11, reflecting broader macro weakness in the crypto market. The lack of coin-specific catalysts left DOGE vulnerable to market forces, compounding losses driven by liquidations and deteriorating technical structure.