Dogecoin Price Forecast: Are traders dumping DOGE for $15B TRUMP token?

ibrahim
Updated
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Dogecoin Price: DOGE Will Receive Elon Musk's Support Again If This Happens

Highlights

  • Dogecoin (DOGE) price retraced towards $0.41 on Sunday January 19, down 9% within the last 24 hours.
  • TRUMP token distrupted memecoin sector dominance, pulling in $14.8 billion trading volume.
  • DOGE technical indicators signal imminent rebound phase if the $0.40 support holds.

Dogecoin price consolidated above the $0.40 area on Sunday as Donald Trump’s newly-launched token gained market share. Is the DOGE price rally at risk of losing momentum ?

Advertisement
Advertisement

Dogecoin (DOGE) Dips Below $0.40 as Trump’s latest move shifts investors focus

Dogecoin (DOGE) emerged one of the standout performers since Donald Trump was re-elected in 2025. However, after Donald Trump launched an official ‘TRUMP’ memecoin in a TruthSocial post on January 18, the market dynamics have shifted considerably.

 

Dogecoin price action | DOGEUSD 
Dogecoin price action | DOGEUSD

Dogecoin was left lagging as the global crypto market gained further traction on Sunday. According to TradingView data, while BTC breaching $105,000 and Solana price reaching a new all-time high of $275 per coin, DOGE price declined 8.8%, falling below the $0.40 mark at press time on January 19.

Advertisement
Advertisement

DOGE Stumbles as Trump Token Pulls $15B Market Demand

Over the past three months, DOGE has enjoyed a close association with the Trump administration, partly due to Elon Musk’s influence within government circles. Musk, a vocal proponent of DOGE, frequently promoted the memecoin during his public appearances and campaigns.

However, this dynamic shifted significantly with the recent launch of President-elect Donald Trump’s official memecoin, TRUMP, hosted on the Solana blockchain.

Within 48 hours of its debut, the TRUMP token amassed an impressive market capitalization of $7.2 billion, reflecting widespread positive sentiment among investors.

While this rapid growth indicates widespread positive market reception for TRUMP, it has also triggered an unintended negative impact on older, legacy memecoins.

Tokens such as Dogecoin (DOGE) and Shiba Inu (SHIB) appear to have lost traction as the TRUMP token encroaches more market share.

Trump PolitiFi Tokens Performance (January 19, 2025) | Source: SosoValue
Trump PolitiFi Tokens Performance (January 19, 2025) | Source: SosoValue

The SosoValue chart above presents the performance of select cryptocurrency tokens remotely linked to the Trump administration. As depicted, TRUMP token market capitalization crossed $7.84 billion while attracting a staggering $14.8 billion in trading volume on Sunday.

This figure nearly triples the $5.4 billion in trading volume accrued to Dogecoin, the largest memecoin by market capitalization during the same period. The disparity in performance highlights a clear shift in investor focus.

First, the simultaneous decline in DOGE trading volume and price suggests that many investors are reallocating funds from Dogecoin to TRUMP, likely to capitalize on the fresh profit opportunities and novelty of Trump’s new project.

If this trend persist, the ascent of the TRUMP token could further disrupt the market dominance of legacy memecoins like DOGE, SHIB, PEPE, and FLOKI.

 

Meanwhile the likes of Dogwifhat (WIF), BONK, and Pudgy Penguins stand to benefit immensely, as the Trump coin launch brings new entrants, fresh capital inflows, and additional media attention towards the Solana memecoin ecosystem.

Advertisement
Advertisement

Dogecoin price forecast: Bulls to regroup at $0.40 support level

Despite a 9% drop off to $0.38 technical indicators suggest further bearish outlook for Dogecoin price prediction.

The Bollinger Bands (BB) show significant price contraction, with DOGE testing support near $0.3593 (lower BB boundary). This indicates rising pressure, potentially favoring a bearish breakout if selling persists.

Volume Delta readings also show negative momentum, with -$529.82M in net outflows, reinforcing short-term bearish sentiment. Should DOGE breach $0.36, the next support lies at $0.3027, aligning with December lows.

Dogecoin Price Forecast | DOGEUSD
Dogecoin Price Forecast | DOGEUSD

Conversely, the midline of the Bollinger Bands ($0.3593) intersects with the 50-day Moving Average, offering a possible pivot for recovery.

If bulls regain control, DOGE could reclaim $0.40 (upper BB), a psychological and technical resistance

Traders should monitor volume shifts and potential retests of the $0.36 zone.

While short-term weakness persists, long-term momentum could favor bulls, provided macro sentiment supports memecoins. DOGE traders can anticipate a prolonged cautious consolidation near the $0.37-$0.41 price range.

Advertisement

Frequently Asked Questions (FAQs)

1. 1. Why is Dogecoin price down today?

Dogecoin price retraced to $0.40 due to competition from Donald Trump’s newly launched TRUMP token gaining market traction.

2. 2. How has the TRUMP token impacted Dogecoin?

TRUMP token captured $14.8 billion in trading volume, diverting market focus and causing DOGE price to drop by 9%.

3. Can Dogecoin recover from the $0.40 level?

The Bollinger Bands and Volume Delta indicators suggest DOGE could consolidate and potentially rebound early if bears avoid a close below $0.40.
coingape google news coingape google news
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.