- Dogecoin dropped over 10% after a public feud between Elon Musk and Donald Trump rattled market sentiment.
- Technical resistance near $0.1850 is proving tough; a break below $0.1670 could send DOGE tumbling to $0.1576 or even $0.13.
- A Musk-Trump truce or meme tweet could flip the script, but until then, traders should tread carefully with tight stop-losses.
Dogecoin fans were caught off guard this week—not by market trends, but by drama between two of its biggest cheerleaders: Elon Musk and Donald Trump. What started as political jabs turned personal real quick. Musk slammed Trump’s spending plan, calling it a “disgusting abomination,” and Trump hit back by hinting at cutting SpaceX and Tesla’s federal ties. Yikes. That feud stirred up regulatory fears and tanked DOGE over 10%, bottoming near $0.17. Meanwhile, 24-hour volume spiked to $1.63B, but the token’s dominance slipped to its lowest in two months.
Traders aren’t sure what to make of it. Some are pulling coins from long-term wallets to exchanges, probably prepping to sell. Derivatives funding rates flipped negative too, another red flag. Volatility’s spiking—DOGE tapped the lower Bollinger Band and bounced, but it’s far from safe. RSI’s hovering around 39.7, so there might be some bargain buying, but nothing screams recovery just yet.
DOGE Bounces, But Resistance Ahead
Technically, DOGE is holding onto support around $0.167–$0.17, but just barely. It popped up a bit today, touching $0.179, but still trades under serious resistance. That ceiling between $0.1797 and $0.1850 lines up with key retracement levels and several moving averages. To break out, DOGE needs a solid daily close above $0.201, but it’s not showing enough strength. If it can’t break that ceiling, another drop could be incoming.
Worst-case? A break under $0.167 could drag it all the way down to $0.157, or even the $0.13 range from early April. There’s not much in the way to stop that slide, which makes the current level super important to hold.
What’s Next for DOGE? Depends Who Tweets First
Honestly, DOGE’s next move might not be from the charts—it might come from Twitter (or Truth Social). A Musk-Trump makeup tweet could send DOGE ripping past $0.185, maybe even toward $0.20 if momentum sticks. But if things get messier, or more regulation talk heats up, sellers could pile on fast.
Short-term traders might try scalping up to $0.185 with tight stop-losses under $0.17. Longer-term swing traders might wait for a close above $0.20—or a flush down to $0.157—before jumping in. Either way, it’s best to stay cautious. Right now, DOGE is walking a tightrope between sentiment swings and actual support levels.
