Dogecoin has seen a dramatic decline, losing more than one-third of its value in the last 30 days and erasing gains made after President Trump's election victory. As of recent data, DOGE is trading at $0.166, significantly lower than where it was a year ago and having dipped as low as $0.145. Amid a general downturn in the crypto market, the coin's open interest in derivatives has fallen to $1.37 billion from a high of $5.28 billion earlier this year. The ongoing crypto market struggles are exacerbated by economic uncertainty stemming from Trump's trade announcements. The enthusiasm seen in the run-up to the elections, driven by endorsements from influential figures like Elon Musk, has waned, with DOGE now trading 78% below its all-time high of $0.73. Despite recent positive movements, the outlook remains bleak as market enthusiasm diminishes.

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