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Dogecoin Plunges 8%, Pepe Slides 12% in Weekend Market Drop - Cryptured.com
Cryptocurrencies spent this past week in the red, with Dogecoin (DOGE) down more than 8% and Pepe (PEPE) down 12%.
Bitcoin plummeted more than 2% to under $104,000 and was trading slightly over $103,600 in the Asian afternoon on Saturday, while the CoinDesk 20 index fell 4.2% in the previous 24 hours.
Ether (ETH) dropped nearly 4%, while XRP (XRP), BNB Chain (BNB), Cardano’s ADA, and Solana’s SOL all plummeted between 2% and 5%. Cronos Network’s CRO was the only gainer among the top 100 tokens, rising 12% despite no obvious catalyst.
Analysts attributed the drop to heightened trade tensions between the United States and China.
Markets fell on Friday due to fresh tariff-related concerns, according to Alex Kuptsikevich, chief market analyst at FxPro, who told CoinDesk via email. President Trump slammed China on social media for breaking the latest trade truce, while Treasury Secretary Scott Bessent confirmed in an interview that discussions with Beijing had halted.
The futures market also indicated heightened investor caution. As per Deribit data, public curiosity in Bitcoin futures has risen by 51% since April, whereas choices have increased by 126%.
Whale wallets, which had been stockpiling Bitcoin all year, recently switched to net selling, returning coins to exchanges, a classic symptom of profit-taking.
Kuptsikevich believes Bitcoin’s local support will remain stable around $103K in the coming days. However, with tariff stories unsettling markets and whales pushing risk off, traders are ready for increased volatility, he noted.