The price of dogcoin has crashed in the last few months, and this trend may continue near the rare death cross pattern.
DogeCoin (DOGE) token retreated at a low of $ 0.019 on Sunday, the lowest level since 7 November last year. It has exceeded 60% of its highest level in November.
Dogecoin’s accident has reflected the performance of other meme coins, most of which have drowned in the last few months. Popular tokens such as Shiba Inu, Pepe and Dogwifat are more than 50%.
It has also fallen as Elon Musk, a major backer for memecoin, this year has come under intense pressure. Bloomberg data Show This year, the net worth of that Musk has fallen by $ 103 billion, which has cost 330 billion to $ 330 billion.
The latest reporting is that Donald Trump Elon is starting to push back on some tasks of Musk. As new York TimesIn a stressful cabinet meeting, musk crashed with cabinet officials like Marco Rubio. These discussions inspired Trump to curb the musk, which leads the government’s efficiency or Dogi department.
Therefore, the price of Tesla Tesla Stock and new stress between Kasturi and Trump means that he can leave the department. Kalashi data Shows that now 54% is the chance that he will exit before July 2026.
Established in 2013, Dogecoin became a popular meme coin in 2021 due to most Mask’s tweets. For example, their exit from the dog will have some psychological effects that become more negative.
Dogocine price analysis
The daily chart shows that the price of Dogi continued his strong downtrend as the investors remained on the shore. Dogi is about to make a death cross pattern, which occurs when 200-day and 50-day exponential moving averages cross each other. The last time Sikin formed a death cross, in July 2024, and the coin fell to 40%.
The DOGECOIN price has gone below 61.8% fibonacci retracement at $ 0.2360, an indication that bears are under control. In addition, the MACD and the relative power index continue to fall as the sellers target the next major point at $ 0.1680, 78.6% of the retracement points. A step below that level will indicate a decline of $ 0.80, 60% below 60% from the current level.
