DOGE Faces Sharp Decline Amid Political and Market Turbulence
Dogecoin (DOGE) experienced a significant drop of 12.5% within 24 hours, falling from $0.19 to $0.16. This sharp decline was triggered by escalating tensions between Elon Musk and former President Donald Trump, coupled with heightened market volatility. Trading volume surged to 1 billion units during a four-hour window—five times the daily average—indicating institutional selling rather than retail panic. The downturn followed Musk's recent announcement, which added to the uncertainty surrounding the meme cryptocurrency. Despite the current bearish trend, the long-term potential of DOGE remains a topic of debate among crypto enthusiasts, with some viewing this dip as a buying opportunity.
Dogecoin Plunges 12% Amid Trump-Musk Tensions and Market Volatility
Dogecoin (DOGE) tumbled as much as 12.5% in 24 hours, sliding from $0.19 to $0.16 amid escalating tensions between Elon Musk and former President Donald Trump. The meme cryptocurrency faced heavy selling pressure, with trading volume spiking to 1 billion units—five times the daily average—during a four-hour window, signaling institutional distribution rather than retail panic.
The downturn follows Musk's announcement that the satirical 'Department of Government Efficiency' (DOGE) WOULD dissolve, removing a speculative catalyst that historically buoyed prices. Concurrently, global trade disputes and risk-off sentiment compounded the selloff. Once propelled by Musk's endorsements, DOGE now struggles to maintain momentum as traders await its ability to reclaim key resistance levels.
Dogecoin Price Analysis: Can Coinbase’s cbDOGE Lead to a Rebound?
Dogecoin has emerged as a market heavyweight following a fresh utility boost. Coinbase's launch of Wrapped Dogecoin (cbDOGE) on Ethereum’s Layer-2 Base network marks a significant development. The new token maintains a 1:1 peg with DOGE, enabling holders to access Ethereum’s burgeoning DeFi ecosystem.
Despite the positive momentum, Dogecoin’s price action remains volatile. Currently trading at $0.1766, Doge has seen a 6.89% drop in the last 24 hours but retains a 13.45% weekly gain. The market cap stands at $26.45 billion, reflecting broader market pressures. Trading ranges have fluctuated between $0.1692 and $0.1924.
Technical indicators suggest a potential inflection point. The RSI at 33.23 signals oversold conditions, hinting at a possible relief rally. A rebound from current levels could test resistance at $0.1966, with further upside to $0.22 if sentiment improves. Failure to hold support may prolong downward pressure.
Dogecoin Whales Accumulate 280 Million DOGE as Traders Eye $1 Breakout
Dogecoin's price action is drawing attention as whale activity surges amidst a 16% weekly decline. Addresses holding 10-100 million DOGE added 280 million tokens in 24 hours—their largest accumulation since March—bringing total holdings to 24.47 billion DOGE. Such moves often precede significant price movements.
The memecoin is testing a critical support zone, with traders speculating whether whale confidence could catalyze a rally toward the psychologically important $1 level. Santiment data reveals this accumulation occurred during bearish sentiment, suggesting whales view current prices as an attractive entry point.
