Dogecoin DeFi Plummets, Raising Fears of a Meltdown

The decentralized finance (DeFi) ecosystem powered by Dogecoin has suffered a significant downturn. TVL has fallen to levels last seen in early 2023, dropping over 70% since late 2024. This crash coincides with broader market volatility triggered by President Trump’s surprise tariff announcement and raises concerns about the future of meme-based DeFi. The article explores the causes behind this decline and its implications for Dogecoin’s long-term viability.