The post Dogecoin Price Prediction: Can DOGE Defy Market Fears and Surge to $1 with Musk’s Backing? appeared on BitcoinEthereumNews.com.

Dogecoin’s price remains in focus as the cryptocurrency faces market uncertainty while analysts debate its future trajectory. The meme coin has been under pressure due to bearish trends, yet speculation over Elon Musk’s potential influence and broader adoption has kept investors intrigued. With recent developments pointing toward both risks and opportunities, can DOGE defy expectations and surge toward the elusive $1 mark? Market Uncertainty Weighs on Dogecoin Dogecoin has been struggling to maintain its momentum, currently trading around $0.1731 after recovering from a dip to $0.16. The cryptocurrency’s performance has been hampered by broader market concerns, including rising global economic uncertainty. Traders are bracing for further volatility as U.S. President Donald Trump’s tariff policies come into focus. Dogecoin (DOGE) price tests trendline support around $0.17. Source: ProfitProphet911 on TradingView Adding to the instability, DOGE remains below key technical indicators such as the 50-day, 100-day, and 200-day Exponential Moving Averages (EMA), suggesting a bearish outlook. Long liquidations for Dogecoin reached $3.3 million, outpacing short liquidations at $2.9 million, reflecting increased selling pressure. Despite these headwinds, the Relative Strength Index (RSI) is showing early signs of a potential breakout. If DOGE successfully reverses its downtrend, analysts see a possible move toward $0.25 in the short term. Musk’s Clarification on Dogecoin’s Role in Government Elon Musk’s Dogecoin engagement has long triggered speculations of its use in other industries. But his recent statements put to rest the rumors that the United States government does not intend to adopt DOGE, though it created the Department of Government Efficiency (D.O.G.E.), which some were misled into believing as a government-supported crypto venture. Elon Musk confirmed that the U.S. government has no plans to use Dogecoin and dismissed any link between DOGE and federal agencies. Source: Crypto Patel via X “There are no plans for the government to…

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Filed under: News - @ April 2, 2025 8:23 am