The memecoin Dogecoin (DOGE) has experienced a significant drop of 13% in the daily chart and 21% in the weekly chart. This decline is in line with the broader market volatility affecting the cryptocurrency sector. Bitcoin, Ethereum, and XRP have also seen declines of 3%, 15%, and 13% respectively. DOGE's technical price analysis suggests a bearish momentum, although a rebound could occur before further downtrends. DOGE currently trades below key price levels and is oversold according to the Relative Strength Index. The next support levels are $0.2165 and $0.1759. The drop in DOGE's price coincides with a broader crypto market downturn due to concerns over Donald Trump's new tariff policies. Large DOGE holders have offloaded approximately 270 million tokens, contributing to the bearish outlook. DOGE's association with Elon Musk, who now has access to the Treasury's payment system, adds another layer of uncertainty. The next moves for DOGE will depend on broader market conditions and the return of buying pressure.



Other News from Today