Since DOGE was created, how has Dogecoin collapsed?

Dogecoin (CRYPTO: DOGE) is one of the most popular meme coins in the crypto world, often driven by Tesla CEO Elon Musk, who pumps digital currency either directly or indirectly, often through social media. Dogecoin investors initially reacted positively to the news that Donald Trump won the election last year, especially considering Musk's close relationship with the new president. One of the biggest government-related changes this year is the creation of an initiative called the Government Efficiency Department -- commonly referred to by the acronym DOGE, just like how people refer to Dogecoin. And Musk has played a significant role in the project. However, the launch of DOGE did not lead to a boost for Dogecoin. Instead, the opposite occurred. Dogecoin has fallen freely this year. On January 20, as part of one of President Trump's initial executive orders, he announced that the United States Digital Service would be reorganized and renamed the United States D.O.G.E Service. From the beginning, Musk has played a major role in DOGE, frequently promoting strong cost-cutting initiatives. And while the goal of DOGE is to cut costs, at least many people are not satisfied with that. There have been protests across the country with people gathering to oppose the controversial policies of Musk and Trump. Vandals have also targeted Tesla dealerships and vehicles, and Tesla's sales have plummeted. Dogecoin did not benefit from the launch of DOGE either. On January 19, this cryptocurrency ended the trading day at around $0.36 and continued to decline by up to 55% since then. Despite Musk's prominent role with DOGE and his close relationship with Trump, it had no positive impact on this meme coin. Why D.O.G.E may not be the only reason Dogecoin is struggling There is a lot of negative information about D.O.G.E and its drastic cuts, but the media's negative reporting on this initiative may not be the only reason for Dogecoin's poor performance this year. Investors are increasingly concerned about the economy in the context of tariffs and the possibility of recession. Even Bitcoin, often considered the safest cryptocurrency to own, has lost value at one point in the year, dropping by as much as 18%, demonstrating that digital currencies may not offer much safety in such a volatile environment. Meme coins like Dogecoin may even be more vulnerable to sharp declines. Additionally, the launch of Trump's own meme coin this year has led some crypto enthusiasts to question whether the new president will actually help the crypto world achieve legitimacy under his administration. Above all, there is the issue that Dogecoin has surged after the elections. Before Election Day, it was trading at around $0.16. This digital coin has really given back the gains it had accumulated in the weeks since then. And so, while it seems like a major sell-off, the drop may not be as significant if Dogecoin did not rise too quickly at the end of last year. Is it worth buying Dogecoin right now? Dogecoin is a meme coin and always carries high risks and volatility associated with it. Although its price has decreased, that does not mean it will have a major price increase soon. If anything, the significant fluctuations in the crypto world over the past six months serve as a reminder to investors about the roller coaster you can end up on by holding such an unpredictable investment in your portfolio. If you're optimistic about crypto and want exposure to it, a much safer option might simply be to buy and hold Bitcoin.