Dogecoin, Solana Down by Double Digits as Ethereum Price Hits 15-Month Low

Dogecoin (Doge), Ethereum (Eth), and Solana (SOL) have all registered with double digits for the past 24 hours, after supporting after the US President Donald Trump announced a federal crypto reserve last Friday.

ETH has fallen 11.4% in the last 24 hours and falls according to 13.9% week after week, according to CoenteckoAlthough Trump says it will be included in an American crypto reserve in an American crypto reserve after About Truth Social. It fell to $ 2,035, the lowest level since November 2023, while the price ratio versus Bitcoin reached a historic layer last month.

Sol fell by 16.1% for the past 24 hours and fell by 2.9% a week, after the announcement of Trump’s Crypto reserve. It has been acting at the lowest price since the beginning of September 2024, after it had become low just a few weeks ago, in the midst of Skeptsis about the future of Solana-based meme coins.

In the meantime, DOGE registered the losses of 12.4% in the last 24 hours and 6.6% week after week. It has been floating at the lowest level since the beginning of November 2024. Despite the fact that it is not mentioned in Trump’s crypto reserve plans, it is still up to the rest of the increase in the crypto market after the announcement.

Dr. Sean Dawson, head of research on the Dirve.xyz option platform, thinks that the rapid price decreases may be due to uncertainty about the details of Trump’s spare plans.

“This market behavior emphasizes that although announcements such as Trump’s strategic reserve can cause excitement in the short term, the lack of clarity and continuation can lead to rapid corrections,” said Dawson. He added that “volatility will probably remain high if traders navigate through the uncertain year.”

He pointed to the fact that high-profile figures from the crypto industry are criticized the recording of notBitcoin Digital assets in the strategic reserve, including co-founders of Gemini Cameron and Tyler Winklevoss and Coinbase CEO Brian Armstrong. Investment company Bernstein has also been skeptical about the move.

Cameron Winklevoss recently tweeted That “Bitcoin is the only one that meets the bar for a store of value reserve assets”, and added: “Maybe Ethereum.”

Valentin Fournier, analyst at Crypto Research Office BRNThe hard decreases attributed to “Trump’s confirmation that 25% rates on Mexico and Canada will come into effect on March 4” of which he said that “uncertainty is injecting into the market” and creating a “risk-off sentiment”.

The total market capitalization of all cryptocurrencies falls according to 10.7% Coentecko. But it is not only cryptocurrencies that have taken up poor performance in recent months; Stocks are across the board, especially in the technical sector prior to Trump’s rates.

The Nasdaq has fallen by 2.64% at the time of writing, while the S&P is 500 1.76% fallPer data from Yahoo Finance.

Crypto research group QCP also emphasizes Other macro -economic factors as behind the price correction of the crypto market, such as Falling yields from 10-year-old American treasury drawings.