DOGE Faces Bearish Pressure Amid Market Volatility and Celebrity Feud
Dogecoin (DOGE) has experienced a significant drop in value, declining over 10% in the past week to trade at $0.179, with a 24-hour trading volume of $1.63 billion. Currently ranked 8th by market capitalization at $26.88 billion, DOGE now represents 0.8299% of the total crypto market. The price decline coincides with heightened volatility, as indicated by Bollinger Bands, with DOGE recently touching the lower band at $0.17 before a partial recovery. The Relative Strength Index (RSI) has dipped to 39.75, signaling potential bearish momentum. Market analysts attribute the downturn to a combination of technical factors and the ongoing public feud between Elon Musk and former President Donald Trump, which has cast uncertainty over the memecoin's near-term prospects. Despite the current bearish signals, some traders view the dip as a potential buying opportunity, given DOGE's historical resilience and strong community support. However, caution is advised as the cryptocurrency market remains highly volatile, and further price movements will depend on broader market sentiment and potential developments in the Musk-Trump saga.
Dogecoin Price Drops Amid Elon Musk-Trump Feud, Technicals Show Bearish Signals
Dogecoin's value has plummeted over 10% in the past week, trading at $0.179 with a $1.63 billion volume. The memecoin now ranks 8th by market cap at $26.88 billion, representing 0.8299% of the total crypto market.
Technical indicators paint a concerning picture. Bollinger Bands show heightened volatility, with Doge recently touching the lower band at $0.17 before a partial recovery. The RSI's dip to 39.75 suggests oversold conditions, though its upward trajectory hints at potential stabilization.
Notably, increased trading volume accompanies the price decline—a classic distribution pattern signaling strong selling pressure. Market sentiment appears fragile as investors rapidly offload positions, creating headwinds for any near-term recovery.
Elon Musk and President Trump Clash Over "One Big Beautiful Bill" on X
Elon Musk and former President Donald TRUMP have engaged in a public dispute on X, with Musk openly criticizing Trump's proposed "One Big Beautiful Bill." The tension marks a surprising rift between the two figures, who have maintained a close relationship during Trump's second term. Musk previously served as head of the Department of Government Efficiency (DOGE), where he oversaw $170 billion in government spending cuts.
Their Oval Office farewell meeting underscored mutual respect, with Trump hinting at Musk's ongoing advisory role. The disagreement centers on policy differences, though both emphasized continued collaboration. No direct cryptocurrency market impact was noted, but the high-profile exchange may draw attention to Dogecoin (DOGE) due to Musk's historical association with the meme coin.
Elon Musk's Net Worth Plummets $70 Billion Amid Feud with Trump and Crypto Market Turmoil
Elon Musk's financial empire has suffered a staggering $70 billion contraction since his public rift with former President Donald Trump. The Tesla CEO's net worth—once pegged at $486 billion in December—now hovers near $335 billion, according to Bloomberg estimates. The decline mirrors a 15% crash in Tesla shares over five days, the sole publicly traded asset anchoring his fortune.
Musk's sprawling private ventures—SpaceX, X (formerly Twitter), Neuralink, and xAI—contribute significantly to his valuation but face downward adjustments for illiquidity risks. The downturn accelerated after Musk criticized Trump's fiscal policies and alluded to Epstein ties, escalating their feud. Notably, DOGE—the meme coin Musk famously promoted—has collapsed 75% since December 2024, compounding the tech magnate's financial woes.
While Forbes maintains a higher $400 billion valuation, the episode marks one of Musk's most severe wealth erosion events. The turmoil coincides with broader crypto market instability, though Bitcoin and Ethereum remain resilient amid regulatory scrutiny.
