Dogecoin’s price dropped again on Tuesday — as of 5:30 p.m. ET, the token was down 4%. At the same time, Bitcoin was down 2.6%, and Ethereum had fallen 6.1%.

The decline was triggered by the announcement of new tariffs set to take effect after midnight. Investors were particularly concerned about tariffs on Chinese goods. Today, the Trump administration confirmed that tariffs on imports from China would be set at 104% — the highest rate of any country.

This macroeconomic uncertainty led investors to sell off both stocks and cryptocurrencies. Dogecoin has now lost approximately 52% of its value since the beginning of the year.

Is now the time to buy Dogecoin?
Although the token has dropped more than half in value, it remains a highly risky asset. As a meme coin, Dogecoin is prone to sharp fluctuations even without major news. With the economic outlook unstable, the token’s price may continue to fall.

While sharp sell-offs can create opportunities for gains, it’s wiser to hold off on investing until the tariff situation becomes clearer. In the current environment of geopolitical and economic risks, it’s better to focus on assets with strong fundamentals.