Dogecoin Struggles to Reclaim $0.19 Threshold as Bearish Sentiment Persists
Dogecoin DOGE fell as much as 4.3% over the past 24 hours, dropping from $0.196 to $0.189 as profit-taking continues across majors.
The meme-inspired token broke below key support at $0.194 during heavy selling between 11:00-14:00, establishing a new resistance zone while finding a temporary bottom at $0.187.
News Background
Dogecoin's price struggles come amid a shifting landscape in the meme coin sector and a general capital preference for stablecoins or bitcoin.
Recent whale transfers have moved significant DOGE amounts to major exchanges, sparking speculation about potential sell-offs or accumulation phases.
On a broader scale, geopolitical tensions and inflation concerns continue to impact investor sentiment across risk assets, with cryptocurrency markets particularly sensitive to global trade policy shifts.
These macroeconomic headwinds are keeping DOGE on the defensive as traders search for signs of a sustainable reversal.
Price-Action
According to CoinDesk Research's technical analysis model, DOGE's price action now consolidates between $0.188 and $0.190, with some technical indicators suggesting potential exhaustion of sellers after the high-volume flush at the $0.187 level.
Analysts are watching the descending triangle pattern forming on the charts, as its resolution could dictate DOGE's next move.
While some traders have noted a series of higher lows after DOGE hit $0.188 around 01:50, any recovery attempts have so far lacked conviction. The token's inability to reclaim the $0.19 threshold underscores persistent market caution, particularly with broader risk assets under pressure from ongoing trade disputes and inflation concerns.
Technical Analysis Recap
DOGE declined 4.3% from $0.196 to $0.189 over the past 24 hours, with a price range of $0.010 (5.1%).
Key support at $0.194 was broken on above-average volume, establishing a new resistance zone.
A temporary bottom formed at $0.187 during the 20:00 hour, with the day's highest volume of 223M suggesting potential seller exhaustion.
DOGE consolidated between $0.188 and $0.190, showing weak recovery attempts.
A small rally occurred between 02:00-02:01, where DOGE climbed 0.18% on increased volume.
Higher lows formed after 01:50 indicate some short-term bullish sentiment, but broader bearish momentum persists.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 hours ago
- Yahoo
Democratic lawmaker looks forward to Elon Musk 'turning his fire against MAGA Republicans' in 2026 midterms
Rep. Ro Khanna, D-Calif., was optimistic on Friday that former Department of Government Efficiency (DOGE) leader Elon Musk would be targeting Republicans instead of Democrats in the 2026 midterm elections after his feud with President Donald Trump. In an interview with Semafor, Khanna said that he spoke to some of the Tesla CEO's "senior confidants" about whether Musk would be interested in supporting Democratic candidates in 2026. Based on Musk's recent attacks against the Trump administration and his history of supporting Democrats, Khanna believed a change could be possible. "Having Elon speak out against the irrational tariff policy, against the deficit-exploding Trump bill, and the anti-science and anti-immigrant agenda can help check Trump's unconstitutional administration," Khanna said. "I look forward to Elon turning his fire against MAGA Republicans instead of Democrats in 2026." Booker Won't Accept Money From Elon Musk For Campaign, But Urges Him To 'Sound The Alarm' On Trump-backed Bill Khanna made similar comments to Politico on Wednesday where he implored the party to start trying to embrace Musk after he broke ranks with Trump. "We should ultimately be trying to convince him that the Democratic Party has more of the values that he agrees with," Khanna said. "A commitment to science funding, a commitment to clean technology, a commitment to seeing international students like him." Read On The Fox News App Fox News Digital reached out to a Musk spokesperson for a comment. While Democrats have largely framed Musk as a political enemy because of his support for Trump, Khanna has been a notable exception, calling for "bipartisan cooperation" with DOGE's efforts to cut federal spending prior to Trump taking office for the second time.. Not every progressive has encouraged reaching out to Musk ahead of the midterms. On CNN Sunday, Sen. Bernie Sanders, I-Vt., told "State of the Union" host Dana Bash that he didn't believe Democrats should work with the "right-wing extremist." Elon Musk Biographer Believes Billionaire Is 'Frustrated' As He Exits Doge "Musk has evolved over the years. My understanding is he actually voted for Obama in 2008. But over the years, he has developed into a right-wing extremist," Sanders said. While Musk and Trump traded harsh barbs last week over Trump's massive tax and spending package, Musk has since shown signs of reconciling with the Trump administration on social media. On Sunday, Musk shared a Truth Social post from Trump regarding the Los Angeles riots that broke out on Friday. He also re-posted one of Vice President JD Vance's posts on X about the riots, signaling approval of the administration's handling of the article source: Democratic lawmaker looks forward to Elon Musk 'turning his fire against MAGA Republicans' in 2026 midterms
Yahoo
6 hours ago
- Yahoo
GOP lawmakers uneasy about package to codify DOGE cuts ahead of House vote this week
Multiple Republican lawmakers are voicing concerns about backing a high-profile measure later this week to codify Elon Musk's DOGE cuts – raising questions about whether it can pass the House at all. Two Republicans – Reps. Mark Amodei of Nevada and Nicole Malliotakis of New York – separately told CNN they have concerns with the White House's push to defund the Corporation for Public Broadcasting. 'Still mulling,' Amodei said when asked if he would support the package of cuts. 'The impact on local PBS stations appears to be significant.' Other Republicans have heartburn about how it could cut the Bush-era program, PEPFAR, devoted to fighting HIV and AIDS globally. 'If it cuts PEPFAR like they're saying it is, that's not good,' GOP Rep. Don Bacon of Nebraska told CNN last week. House GOP leaders plan to put the package of cuts, totaling $9.4 billion, on the floor as soon as Thursday, according to two people familiar with the plans. But Speaker Mike Johnson will need near unanimity in his conference for the package to pass the House, where he can only lose three votes. Johnson said on Monday that he's 'working on' getting enough votes for the Department of Government Efficiency spending cuts package he hopes to bring to the floor this week. 'The only concern I heard initially was some wanted a little more specificity and detail on what was in the package,' Johnson continued. Asked how he would persuade members that wanted more specificity in the package, Johnson replied, 'I'm gathering up all their questions and we'll try to get them all answered. I mean, that's what we do in every piece of legislation.' If it can survive the House, it will face major obstacles in the Senate. Sen. Susan Collins of Maine told CNN on Monday that she has major misgivings about the global health cuts, including PEPFAR. 'I think we can change it. We're still figuring out what the set rules are,' Collins said. The White House sent its long-awaited spending cuts request to Congress as it seeks to formalize a slew of DOGE slashes to federal funding. The $9.4 billion package – known as 'rescissions' on Capitol Hill – would claw back previously appropriated government funding. The move to cancel the funding through Congress would insulate the administration from legal challenges related to its cuts to federal funding. Johnson said on Monday, 'We'd like to do multiple rescissions packages, and this first one I'm sure will be successful.' This initial request, however, is far more limited in scope than the more than $1 trillion in spending cuts that DOGE has promised. The lengthy time it took the White House to send over a first round of cuts underscores the uphill battle for even a Republican-led Congress to codify DOGE's work. CNN's Molly English contributed to this report.
Yahoo
8 hours ago
- Yahoo
Musk's administration allies become targets
Elon Musk's allies inside the Trump administration are newly vulnerable after the mogul's bitter public breakup with the president. MAGA loyalists are taking advantage of the Trump-Musk rift to threaten the standing of anyone in the administration who's perceived as too close to the Tesla CEO. Leading that charge is former Trump adviser Steve Bannon, whose long-running animosity toward Musk peaked last week with the former calling to deport Musk from the US and the latter deeming Bannon a 'Communist retard.' Among the potential Bannon targets: David Sacks, the venture capitalist tapped by Trump as artificial intelligence and cryptocurrency czar. Sacks has invested in Musk's SpaceX and, like Musk, is a member of the so-called PayPal Mafia (early PayPal employees and founders who are a Silicon Valley force). 'You're dangerous. It's all about you, not the country,' Bannon recently said on his War Room podcast of Sacks and his All-In Podcast co-hosts. But the administration's close ties to the crypto industry and Sacks' help to the Trump campaign mean he's likely to avoid the chopping block. 'As a trusted ally and early supporter of President Trump, David Sacks sacrificed a thriving entrepreneurial career to serve as the President's AI and Crypto Czar,' White House spokesman Harrison Fields said in a statement, adding that Sacks 'is deeply committed to advancing the president's vision' on both issues. That leaves lesser-known figures brought in by Musk to bear the brunt of the speculation about more exits — talk that Silicon Valley is monitoring closely, and with good reason. One person familiar with the situation told Semafor that there are ongoing conversations inside the administration 'regarding the future of some of these big names that came to the federal government in that wave of Elon coming here.' This person described possible forthcoming departures as more of a 'mutual separation' than a forced ouster. A number of Musk allies are still working with the Department of Government Efficiency, and officials are said to be cognizant of those who may now have conflicts of interests or dualing loyalties. The White House's longer-term goal in the wake of the Trump-Musk spat is to underscore that DOGE 'isn't just a fad,' this person added, and some in the administration are discussing ways to separate its mission from 'the personality behind the original initiative.' 'Maybe we don't call it DOGE,' the person suggested. 'The mission is what we want to stay focused on.' Sacks hosted Trump for a fundraiser last summer at his home on San Francisco's Billionaire Row, cementing his role as a tech industry conduit to the White House. He's got a rare office in the White House complex, two sources told Semafor, and is playing a lead role in shepherding crypto legislation through Congress — as well as drafting a long-awaited administration report, expected in July, that will shape other industry-friendly policies. Sacks 'brought Silicon Valley to the table with him well before Musk jumped on board' the Trump campaign, one tech industry insider said. Since then, 'he has avoided all of the third rails that Musk grabbed' by focusing his efforts on cementing crypto-friendly policy and competing with China on AI. That hasn't stopped Bannon from going after him, particularly after the All-In podcast — co-hosted by Sacks and a favorite stop for administration officials — scrapped plans to release an episode about the Trump-Musk battle. 'Folks like Bannon are trying to drive a wedge between tech right and MAGA right,' said one crypto executive, who was granted anonymity to speak candidly. 'I don't see it sticking.' A spokesperson for the White House Office of Science and Technology Policy, where part of Sacks' work is housed, did not respond to requests for comment. A number of other top DOGE staffers departed the administration when Musk did, including Katie Miller — the wife of Trump's influential deputy chief of staff, Stephen Miller. It's clear that, even before Trump and Musk traded barbs last week, the administration expected a shift in staff once the tech mogul left Washington. But any remaining administration players who are tied to Musk can't be breathing entirely easy yet, given that conversations are ongoing about how to shape DOGE more in Trump's image than his former friend's. In that sense, the MAGA right may not have to push too hard to get some people Musk hired out of the administration. Still, it seems unlikely Bannon will succeed in expanding his manhunt to people as senior as Sacks, who was Team Trump long before Musk — and who has ties to industries like crypto that the administration wants to keep close. Bannon will need the backing of much heavier hitters if he wants to bring down Sacks. Bannon and his wing of the GOP — including agitator Laura Loomer — have proved more influential than initially predicted. 'Influence comes from the people. When you have the people's support, you're influential,' Rep. Marjorie Taylor Greene, R-Ga., said in February. 'He's a big voice of MAGA, and that's helpful for the President's agenda. He's someone that pushes back when people aren't in line.' Some DOGE staffers are worried about being cut in the wake of the Trump-Musk feud, The Wall Street Journal recently reported. Trump and his administration remain firmly behind DOGE's efforts despite the drama with Musk himself, The New York Times reported. Trump pulled NASA administrator nominee Jared Isaacman, a Musk ally, shortly after the tech billionaire left the White House, Semafor scooped.
