Dogecoin (DOGE) is currently trading at approximately $0.2975, reflecting a decline of about 17% over the past 24 hours.

This downturn is part of a broader trend, with the cryptocurrency experiencing a 26.7% decrease over the past week.

Despite these recent declines, Dogecoin has seen significant activity in 2024, particularly following the U.S. presidential election.

In November, President-elect Donald Trump announced the formation of the Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy.

This announcement led to a notable increase in Dogecoin's market capitalization, nearly doubling post-election.

However, the cryptocurrency remains highly volatile, with its value susceptible to rapid changes influenced by market sentiment and external factors.

Investors should exercise caution and conduct thorough research before making investment decisions in such a fluctuating market.