Latest news with #DogecoinDOGE
Yahoo
3 days ago
- Business
- Yahoo
Dogecoin Drops as Much as 12% Amid Trump-Musk Drama
Dogecoin DOGE experienced a dramatic 12.5% decline over the past 24 hours, plunging from 19 cents to 16 cents as tensions between President Donald Trump and technology entrepreneur Elon Musk weighed down on crypto markets. News Background Dogecoin's latest plunge comes against a backdrop of risk-off sentiment. Elon Musk — long known as a Dogecoin backer — said recently that the non-governmental Department of Government Efficiency (DOGE) would cease to exist as its work was deemed complete, cutting out a speculative catalyst that has oft impacted DOGE prices. Meanwhile, Musk's public clash with former President Donald Trump over various economic and policy issues has drawn attention, adding another layer of intrigue to Dogecoin's fortunes. While Musk's support once propelled DOGE to dizzying heights, the token now faces the test of sustaining momentum amid shifting sentiment and global trade tensions. As institutional investors reposition ahead of anticipated monetary policy shifts, DOGE's future hinges on its ability to reclaim key resistance levels and rebuild trader confidence amid persistent volatility. Price-ActionThe sell-off was punctuated by heavy selling pressure during the 16:00-20:00 timeframe, with trading volume spiking to over 1 billion units — nearly five times the daily average — suggesting institutional distribution rather than retail panic. The sell-off coincides with mounting global trade disputes that have weighed heavily on risk assets, including cryptocurrencies. While some modest stabilization has emerged in the 17 cents area, the technical picture remains challenging. The $0.190 level has now become a formidable resistance zone, with price action showing only tentative signs of recovery amid persistent market caution. Technical Analysis Recap DOGE collapsed from $0.193 to $0.169, a 12.5% decline. Most intense selling occurred between 16:00-20:00, with volume exceeding 1 billion units — nearly 5x the average. Resistance formed at $0.190, with cascading sell orders rejecting multiple recovery attempts. Support established at $0.169-$0.170, with substantial buying interest creating a high-volume support zone. Price action has stabilized in the $0.171-$0.172 range, with modest accumulation patterns observed. Specific buying pressure emerged at 01:23, 01:34, and 01:50, briefly pushing price toward $0.172. A consolidation pattern is forming above the critical $0.169-$0.170 support zone, though risk remains in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
DOGE, ADA Nosedive 7% as Crypto Traders Digest ‘Recession' Sentiment
Dogecoin DOGE and Cardano's ADA ADA led the declines on Friday as crypto traders digested mixed macro data and recession concerns sparked by an escalating feud between President Donald Trump and tech titan Elon Musk. DOGE tumbled nearly 7% in 24 hours, while ADA slid 6.5% to reflect a risk-off shift among crypto traders. Bitcoin BTC bounced above $102,000 in Asian morning hours after falling to near $101,000 on Thursday night, with ether ETH, XRP XRP, BNB Chain's BNB BNB and Solana's SOL SOL down between 2%-5%. The spat between Musk and Trump rattled confidence, with Musk warning that the U.S. is likely headed for a technical recession this year — a concern that weighed heavily on speculative assets. 'The quarrels between Elon Musk and President Trump exposes divides that could hinder plans to reform the US economy, which is why cryptocurrencies as a whole dropped overnight,' said Jeff Mei, COO at BTSE, in a Telegram message to CoinDesk. 'However, we are still positive on the long-term viability of crypto markets, and given the success of Circle's IPO yesterday, it's clear that there are still many institutional investors who feel the same way,' Mei added. Some analysts pointed to the growing risk that political infighting could spill over into markets. 'While recent US macroeconomic reports influenced the sell-off, the negative outlook has been mostly driven by the escalating tensions between President Trump and Elon Musk,' said Nick Ruck, director at LVRG Research, told CoinDesk. 'Investors fear their feud could spill over into the markets. We remain optimistic for the long term as institutions continue to build within the greater crypto ecosystem,' Ruck added. Traders remain cautious as the market awaits clarity on the debt ceiling debate and the potential impact of Trump's proposed 'One Big Beautiful Act' on fiscal policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
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.
Yahoo
7 days ago
- Business
- Yahoo
Bitcoin Strength Wows Traders After Market Tumble; ETH, DOGE Lead Majors Gains
Bitcoin BTC hovered above $105,000 on Tuesday, marking a steady climb after a sell-off over the weekend and Monday resulted in nearly $1 billion in liquidations, rattling traders. Ether ETH led gains among majors at 4.5%, coming as the blockchain's Foundation restructured staffing to focus on protocol developments in a competitive and crowded network landscape — bumping bullish sentiment for the world's second-largest token. Dogecoin DOGE followed with a 3% rise, with Solana's SOL SOL, Cardano's ADA ADA, XRP XRP, and BNB Chain's BNB BNB adding as much as 2.5%. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market cap, rose 2%. After weeks of gains, bitcoin's latest price action has traders closely watching for signs of a potential cooling-off period. Caution is emerging among some as technical signals hint that the rally may be losing momentum. 'Bitcoin hovering around the $105,000 range is circumstantial natural cooling after a strong rally, with elevated trading volumes followed by sustained interest, now hints at fatigue,' said Ryan Lee, Chief Analyst at Bitget Research, said in a Tuesday update shared with CoinDesk. 'BTC could consolidate between $103,000 and $108,000, with $100,000 acting as psychological support. If that level fails, downside targets near $97,000–$93,000 may be tested,' Lee said. Lee added that on-chain data shows continued whale accumulation, typically a bullish sign that any correction could offer an entry point. For ETH, Lee noted that repeated rejections and long upper wicks around the $2,800 level indicate hesitation. 'Overall strength remains intact, but momentum is capped unless ETH decisively breaks above $2,810,' he said. The bigger picture for BTC remains solid on a macro basis. 'On a YTD basis, BTC remains a strong outperformer on a macro basis and vs equity, though there are short-term signs that we might be up for more challenging times ahead, with OGs and natives continuing to be better sellers and profit takers against mainstream buying,' said Augustine Fan, Head of Insights at SignalPlus, told CoinDesk in a Tuesday message. Geopolitical risks continue to weigh on sentiment. Fresh tariff headlines and a tense trade backdrop between the U.S. and China have traders bracing for more volatility, with key policy deadlines in early July on the radar, Singapore-based QCP Capital said in a market broadcast late Monday. For now, bitcoin is proving its mettle and holding on to the 'top of the pecking order,' the firm ended.
Yahoo
30-05-2025
- Business
- Yahoo
Dogecoin Plunges 10% in Midnight Crash, Struggles to Find Footing
Dogecoin DOGE, the popular meme cryptocurrency, endured a rough night as it plunged over 10% in a sudden sell-off that rattled markets. The drop — from $0.226 to $0.202 — occurred around midnight, coinciding with a surge in trading volume to 1.18 billion, highlighting a scramble among traders reacting to broader market jitters. While DOGE managed a modest bounce from its lows, it remains stuck in a consolidation pattern between $0.202 and $0.206. This suggests the market is taking a breather after the initial shock, but traders remain cautious, with volatility tapering off and no decisive direction emerging. Technical analysis shows DOGE testing multiple support levels during the crash before establishing a key resistance at $0.217. A potential double-bottom pattern may be forming, giving some hope to bulls eyeing a breakout toward $0.25 if DOGE can gather enough momentum to push past that resistance. Open interest in DOGE derivatives climbed 2.89% to $2.71 billion, indicating traders are positioning for the next big move. Whether that move is up or down is still an open question, as mixed sentiment prevails across the market. Technical Analysis DOGE dropped from $0.226 to $0.202, a sharp 10.6% decline. The most intense selling came at midnight (00:00), with a 5.5% plunge on exceptional volume. Key resistance has formed at $0.217, with broken support levels below. Consolidation between $0.202 and $0.206 signals market indecision. A brief recovery between 09:43 and 09:56 saw DOGE inching back to $0.205, but on low volume. Open interest growth points to traders bracing for a potential volatility spike. As the dust settles, traders and investors alike will be watching closely for signs of a sustained rebound — or a deeper decline — in the hours ahead. Sign in to access your portfolio
