The cryptocurrency market experienced heightened volatility this Wednesday, April 9th, as global financial markets opened after a brief period of consolidation. Dogecoin (DOGE), a prominent meme coin, faced further bearish pressure despite not being directly impacted by the ongoing trade wars and tariff disputes. This follows a substantial drop in the total cryptocurrency market cap since Donald Trump’s presidency began earlier this year. 70% decline is attributed to declining investor sentiment on stablecoins following an increase in stablecoin supply on exchanges. 1.32 billion DOGE coins were sold by large investors within a span of two days, further increasing volatility.