Dogecoin News Today: Solana Dogecoin and Cardano Drop Over 7% as $635M in Crypto Liquidations Triggered

Late July 2025 marked a sharp downturn in the cryptocurrency market, with Solana, XRP, and Dogecoin among the most affected assets. The sell-off was fueled by renewed macroeconomic concerns, including recent U.S. tariff announcements and a wave of profit-taking, which collectively triggered over $635 million in liquidations across leveraged positions, predominantly from long traders caught in a sudden intraday reversal [1]. This event underscored the heightened sensitivity of crypto markets to external economic pressures and regulatory developments.

Bitcoin, the largest cryptocurrency by market capitalization, also felt the strain, falling below $115,200 amid intensified investor anxiety [2]. The broader market impact was evident as major altcoins, including Solana, Dogecoin, and Cardano, each declined by more than 7% within a 24-hour window. Solana, which had previously shown strong momentum, found itself struggling to maintain key support levels, while Dogecoin and Cardano gave back significant portions of their five-month gains [5]. The volatility highlighted the fragility of leveraged positions in a market already under stress from macroeconomic uncertainty.

The Financial Times reported that the sell-off was not confined to price movements; it also significantly impacted trading volume and investor sentiment [4]. Although several altcoins recorded daily losses, they remained in positive territory for the month, reflecting a broader but uneven trend in the market. Analysts, including Vikram Subburaj, CEO of Giottus, attributed the downturn to a combination of macroeconomic pressures and fragile liquidity, emphasizing the role of profit-taking in exacerbating the sell-off [1].

Despite the immediate sell-off, some analysts are observing underlying resilience. While short-term volatility persists, historical patterns suggest that crypto markets can recover once the uncertainty surrounding trade policies and macroeconomic conditions begins to ease. However, the recent decline has reinforced the need for cautious trading strategies, particularly for high-risk altcoins like XRP and Dogecoin, which appear to be bearing the brunt of the market's current instability.

Sources:

[1] title: Solana, Dogecoin, and Cardano lead decline amid $635 million crypto market liquidations

url: https://www.fxstreet.com/cryptocurrencies/news/solana-dogecoin-and-cardano-lead-decline-amid-635-million-crypto-market-liquidations-202508010604

[2] title: Bitcoin slips below $115200 as U.S. tariffs rattle markets

url: https://m.economictimes.com/markets/cryptocurrency/crypto-news/bitcoin-slips-below-115200-as-u-s-tariffs-rattle-markets-ethereum-solana-dogecoin-fall-up-to-8/articleshow/123038529.cms

[4] title: Crypto Market Sheds $635M in Liquidations as Altcoins

url: https://www.fxleaders.com/news/2025/08/01/crypto-market-sheds-635m-in-liquidations-as-altcoins-drop-up-to-7/

[5] title: Crypto Market Faces Drastic Sell-Off, Sending Shockwaves

url: https://en.coin-turk.com/crypto-market-faces-drastic-sell-off-sending-shockwaves-worldwide/