Dogecoin slid to $0.0690 on Sunday, losing 4.75% in the latest 24-hour trading period, as the escalating U.S.-Iran war crisis and broad market deleveraging dragged down risk assets. The decline came amid a 0.96% drop in total cryptocurrency market capitalization to $2.22 trillion. Bitcoin, meanwhile, hovered near the mid-$65,000 level, showing relative resilience.
Dogecoin slides amid geopolitical tensions
The price drop was attributed to general market deleveraging and the ongoing U.S.-Iran war crisis. Dogecoin, often among the most volatile major tokens, took a harder hit than the broader market. The meme coin's decline outpaced the overall market cap contraction, reflecting its sensitivity to risk-off sentiment.
Bitcoin holds above $65,000
Bitcoin traded near the middle of the $65,000 range, a level it has defended over the past week. While the leading cryptocurrency didn't escape the selloff entirely, its losses were more contained than Dogecoin's. The market cap decline of nearly 1% suggests traders are reducing exposure across the board, but Bitcoin's relative stability offers a contrast to the altcoin rout.
Spot ETFs break inflow drought
In a notable shift, spot exchange-traded funds recorded their first inflows since June 17. The timing isn't great — the inflows come as geopolitical risk is spiking — but the data suggests some institutional buyers are still willing to add exposure at current levels. The ETF flows had been negative or flat for over a month before this week's reversal.
The U.S.-Iran situation remains fluid, and traders are watching for any escalation that could further rattle risk assets. The deleveraging cycle may not be over, but the spot ETF inflows provide a counterpoint. For now, Dogecoin's path depends on whether the broader market stabilizes or the war crisis deepens.
