Dogecoin’s Dramatic Downhill: Will Musk and Trump Crush Your Coins?

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Ever wondered what happens when billionaires decide to have a shouting match on Twitter? Well, apparently, your Dogecoin does a nosedive, and the resulting chaos is more entertaining than binge-watching reality TV. 📉🚀

Dogecoin Price Risks 66% Drop to $0.06 as Trump-Musk Feud Gets Ugly

Key takeaways:

  • On June 6, Dogecoin decided it was time to throw a tantrum and dropped about 7%. Someone obviously didn’t get their morning coffee.

  • The chart looks as if DOGE is gearing up for a dramatic 66% decline, which should make HODLers clutch their coins tightly—if they still have any.

So, here’s the scoop: Dogecoin’s flashy price flip-flopped into bearish territory on June 5, thanks to a public spat so heated it could qualify for a reality show. It all started when President Donald Trump and Elon Musk, the king of memes and Mars dreams, decided to zig when everyone expected them to zag. The end result? DOGE plummeted 7% in a day, settling at a cozy $0.17, with paranoia whispering that it could tumble further—possibly all the way down to a dollar menu at your favorite fast-food joint: $0.06. 🍔

Musk’s breakup with Trump is the gift that keeps on giving… for bear markets

Thanks to CryptoMoon Markets Pro and TradingView (who clearly have a sense of humor), we see Dogecoin charting its third consecutive bear week. The price is down 14% in just seven days—because nothing says “healthy market” like Elon Musk calling out the President of the United States during your morning scroll.

Meanwhile, Musk and Trump’s feud has reached new heights—think less “friendly banter,” more “billionaires throwing political punches.” Trump threatened to cut Musk’s government goodies to save “Billions and Billions,” implying the guy’s getting government handouts like a kid at Disneyland. Musk fired back, bragging he’s the secret sauce behind Trump’s political success—because who wouldn’t want a billionaire to tell them how to run their campaign? 🤔

The Big Ugly Bill will INCREASE the deficit to $2.5 trillion! — Elon Musk (@elonmusk) June 5, 2025

Back in the glory days, Musk’s endorsements could send DOGE flying faster than a dog chasing its tail—remember when Tesla started accepting DOGE for merch? The coin’s price grew more than 25% in a single day, proving that even in crypto, it’s all about the right tweet. 🚀🐕

He even swapped Twitter’s blue bird for a shiba inu. Because if there’s anything better than a blue bird, it’s a meme coin staring back at you. Naturally, DOGE got hyped again after Musk’s Twitter avatar stunt, and saw more jumps than a cat on a laser pointer in 2023. And of course, DOGE enjoyed some cheers after Trump’s election win in November 2024, because what’s better than politics and coins colliding?

But alas, all good things must come to a dip, and now, with Musk’s backing waning, the market’s worried that Crypto’s shiny “to the moon” days are over. Investors? They’re clutching their wallets tighter than grandma’s pearls, fearing DOGE’s value may be heading for the bargain bin.

DOGE’s bear flag signals a possible trip below $0.10 — grab your parachutes

This isn’t just a bad hair day. DOGE has officially confirmed a bear flag on the weekly chart, having dropped below its “support” at $0.20. Currently, it’s flirting with the $0.15 mark, which is just above the 100-weekly simple moving average—think of it as DOGE’s metaphorical safety net.

Key downside targets include the 200-day SMA at $0.14 and the April 7 low of $0.13. If the bears push past these, we might see a rapid descent down to $0.06—a true cliffhanger in the crypto saga. And with RSI dipping from 52 to 43, it’s like DOGE is whispering “please don’t kill me” while the bears are sharpening their claws. 🐻

CryptoMoon warns that a sharp drop below the 20-day EMA ($0.20) could send DOGE crashing well below $0.14. So maybe start brainstorming your “dogecoin funeral” memes now?

In the end, whether DOGE bounces back or plunges into meme-ory, one thing’s certain: in the world of crypto, today’s hero is tomorrow’s punchline. Buckle up, and maybe keep some fiat handy. Who knows—next week, Elon might tweet something that sends DOGE soaring again, or perhaps the market will decide enough is enough and put DOGE in time-out. 💼🙃

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2025-06-06 14:13