Introduction
Dogecoin fans have weathered Elon Musk’s tweets, pump-and-dumps, and even Snoop Dogg cameos—but nothing quite like this. The latest jolt comes not from inside the crypto world, but from an unlikely place: a political soap opera starring Musk and former President Donald Trump.
Their very public spat, unfolding across X and Truth Social like an over caffeinated reality show, has tanked more than just Tesla shares—it’s knocked Dogecoin off its leash. The memecoin, once sniffing the $0.20 mark, took a tumble below $0.17, dragging meme morale down with it.
When Billionaires Bicker, Memecoins Bleed
What began as a typical billionaire gripe session over taxes and EV mandates quickly escalated into a full-blown mudslinging match. Musk labeled Trump’s “big, beautiful bill” a “disgusting abomination,” and Trump fired back with threats to yank SpaceX and Tesla’s federal perks. The fallout? A 14% crash in Tesla’s market cap and a 10% dive in DOGE.
Even crypto traders, usually numb to drama, perked up. Trading volume surged to $1.63 billion while Dogecoin’s share of the crypto pie shrank to its lowest in two months. That’s not just market noise—it’s a meme-fueled panic attack.
Behind the Charts: DOGE Wobbles as On-Chain Clues Turn Bearish
Meanwhile, technical indicators are screaming “caution.” Long-term wallets have been offloading DOGE onto exchanges like it’s last year’s meme. The Bollinger Bands squeezed tight before the price kissed the lower band, bouncing weakly back toward $0.179.
The Relative Strength Index (RSI) sunk into the “bargain bin” zone, now hovering at a lukewarm 39.7—just enough to suggest some dip-buying, but not enough to declare a full-fledged comeback.
Resistance Ahead, Support Hanging by a Thread
Technically speaking, Dogecoin is pacing nervously above the $0.1670–$0.1700 zone, a level it absolutely needs to defend. Above? A fortress of resistance—$0.1850 marks the start of the trouble zone, backed by the 20-day EMA at $0.2016, the 50-day at $0.2069, and the 100-day just shy of $0.2011. It’s a triple wall of “nope.”
Unless DOGE can sneak above those levels and hold, any bounce will likely be short-lived. A break below $0.1670, though? That opens a trapdoor to $0.1576 or even as low as $0.13, where support is sketchy at best.
So What Now—A Truce, a Tweet, or a Tumble?
What’s next for Dogecoin depends as much on memes as it does on moving averages. If Musk and Trump bury the hatchet—or better yet, drop a DOGE-themed tweet together—the market might just lose its mind (again) and launch toward $0.20.
But if the feud escalates, or if regulators join the party, DOGE could slide deeper into bearish territory. Right now, it’s like watching a rocket on the launchpad with both engines flickering.
Short-term traders might try their luck riding it back to $0.1850, but tight stops are a must. Long-term believers? Maybe wait for either a clean break above $0.20 or a juicy dip closer to $0.1576.
Until then, the Dogecoin faithful must wait, watch, and HODL—or at least meme responsibly.
