The post Dogecoin (DOGE) Dips 8% as Musk-Trump Feud Clouds Market Confidence appeared on BitcoinEthereumNews.com.

Dogecoin plunges 8% amid bearish RSI, MACD, and Musk-Trump tension. DOGE nears $0.14 support as the market rotates out of memecoins. Dogecoin (DOGE), the leading memecoin, has dropped 8% in the past 24 hours, slipping to $0.15 and signaling potential trouble for short-term holders. Eventually, this bearish emergency occurred after Dogecoin almost reached a major resistance level at $0.20. The  sudden decline comes as overall market sentiment weakens, particularly in the memecoin space — but it’s also being fueled by broader political and cultural noise. Notably, Tesla CEO and Dogecoin’s inspired Elon Musk is once again dominating headlines, this time due to a public spat with the U.S. President Donald Trump. The feud, which erupted over disagreements tied to U.S. policy, media manipulation, and crypto regulation, has sparked polarizing reactions across social media platforms, where much of Dogecoin’s speculative momentum is generated. Historically, Musk’s tweets and public appearances have moved DOGE prices — often triggering sharp rallies or corrections depending on tone. While this latest clash is not directly related to cryptocurrency, the public narrative surrounding Musk’s credibility and influence may be weighing on memecoin psychology, especially at a time when DOGE lacks fresh technical or ecosystem catalysts. RSI and MACD Show Bearish Signals as DOGE Targets Lower Support Technically, the indicators tell a clear story: Dogecoin is at risk of further downside. The Relative Strength Index (RSI) has dropped below the neutral 50 line, settling near 38, which signals building bearish pressure. If the RSI dips below 30 , DOGE has already entered oversold territory — potentially triggering a relief bounce, but more likely confirming the bearish drift. The MACD (Moving Average Convergence Divergence) has formed a bearish crossover, where the MACD line now trends below the signal line. This is a common precursor to short-term declines, especially when…

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Filed under: News - @ June 6, 2025 12:29 pm