Dogecoin Price Drops – Even Musk Can’t Spark a Rebound This Time

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Dogecoin Price Drops – Even Musk Can’t Spark a Rebound This Time

Dogecoin traders were given yet another headline moment overnight when Elon Musk shared an AI-generated Shiba Inu clip — the type of post that has historically triggered sharp volatility in DOGE.

Key Takeaways:

  • Dogecoin showed no price reaction to Elon Musk’s viral AI dog clip, signaling fading meme-coin hype.
  • Technical indicators lean bearish, with strong-sell signals from moving averages and weak momentum.
  • Analysts like Trader Tardigrade still point to a long-term bullish “Giant Triangle” pattern targeting $1.20. 

This time, however, the market didn’t bite. The video raced across crypto social feeds, but the price of Dogecoin barely moved an inch, hovering near $0.158 without the usual Musk-driven surge in volume.

The lack of response signals a cooling phase across the meme-coin sector, where sentiment has faded sharply since October. Even intraday movements stayed locked to the pre-existing trend, with no visible bounce, no reordered order books, and no interruption in momentum despite millions of impressions across X.

At press time, Dogecoin trades at $0.1630, down 6.67% over the past 24 hours and 2.91% on the week, with 24-hour volume sitting above $3.58 billion.

Technical Indicators Turn Bearish as Momentum Weakens

Fresh technical readings from TradingView paint a negative short-term picture for DOGE.

The 1-day outlook shows:

  • Summary: Sell
  • Oscillators: Neutral (9)
  • Moving averages: Strong sell (14)

On the 4-hour chart, the MACD remains below the signal line, while the RSI — currently around 38 — fails to suggest an oversold rebound. The broader pattern reflects a persistent downtrend and fading enthusiasm from speculative buyers.

Long-Term Traders Still See a Bullish Structure

Despite short-term risks, some analysts remain convinced Dogecoin is building toward a major breakout. Crypto chartist Trader Tardigrade highlights a massive five-year “Giant Triangle” formation on the six-month timeframe, projecting a long-term target of $1.20 if DOGE successfully breaks out of consolidation.

On the monthly view, he argues the coin is staying above a key descending resistance line, now acting as support — something he sees as critical for sustaining the long-term bullish thesis.

Whether this structure holds depends on broader market conditions, liquidity flows, and risk appetite returning to speculative assets. For now, DOGE remains below the mid-trend band, with buyers unable to reverse momentum.

Where DOGE Goes Next

In the immediate term, sentiment leans bearish. If selling pressure continues, analysts warn that a drop toward the $0.145–$0.150 support zone becomes increasingly likely. Conversely, a daily close above $0.175 would be the first sign of a potential recovery toward $0.20.

For now, markets seem more concerned with macro-driven risk aversion than celebrity-driven hype. Even Musk may not be enough to shake Dogecoin out of its current cooldown phase — at least not while the meme-coin sector remains under pressure.


The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

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Author

Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.

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