{"id":2255,"date":"2025-04-03T09:58:00","date_gmt":"2025-04-03T08:58:00","guid":{"rendered":"https:\/\/investx.fr\/en\/?p=2255"},"modified":"2025-04-03T09:52:17","modified_gmt":"2025-04-03T08:52:17","slug":"elon-musk-strikes-why-dogecoin-dropping","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/elon-musk-strikes-why-dogecoin-dropping\/","title":{"rendered":"Elon Musk Strikes Again ! Why Is Dogecoin Dropping ?"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"dogecoin-falling-is-elon-musk-moving-away-from-the-project\"><strong>Dogecoin Falling : Is Elon Musk Moving Away from the Project ?<\/strong><\/h2>\n\n\n\n<p><strong><a href=\"https:\/\/investx.fr\/en\/crypto-investing\/buy\/dogecoin\">Dogecoin (DOGE)<\/a> traders<\/strong> were shocked by <strong>Elon Musk&#8217;s announcement<\/strong> that the US government had <strong>no plans to use DOGE<\/strong>. Tesla&#8217;s CEO had recently been appointed to lead the &#8220;Department of Government Efficiency.&#8221; As a result, many <strong>DOGE holders<\/strong> were hopeful that the <a href=\"https:\/\/investx.fr\/en\/crypto-news\/pump-swap-solana-dex-could-revolutionize-memecoin-trading\/\">memecoin<\/a> would be integrated into future projects of this new entity.<\/p>\n\n\n\n<p>Musk is known for his <strong>affinity with Dogecoin<\/strong> and the legal issues he has faced due to his statements influencing <strong>DOGE&#8217;s price<\/strong>. However, he clearly stated that the memecoin does not fit into the federal government&#8217;s plans.<\/p>\n\n\n\n<p>During a public meeting in Wisconsin, he said, &#8220;To my knowledge, there are no plans for the government to use Dogecoin for anything&#8230; The names sound alike, but they do very different things.&#8221;<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udea8 Breaking news: Dogecoin is the people&#39;s crypto <a href=\"https:\/\/t.co\/uBPoLZojBl\">pic.twitter.com\/uBPoLZojBl<\/a><\/p>&mdash; Doge Whisperer \ud83d\udc15 (@TDogewhisperer) <a href=\"https:\/\/twitter.com\/TDogewhisperer\/status\/1906678831173275904?ref_src=twsrc%5Etfw\">March 31, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"whats-next-for-dogecoin-after-this-setback\"><strong>What&#8217;s Next for Dogecoin after this Setback ?<\/strong><\/h2>\n\n\n\n<p>The chart of <strong>daily <a href=\"https:\/\/investx.fr\/en\/crypto-news\/dogecoin-doge-skyrocket-plummet-this-week\/\">Dogecoin prices<\/a><\/strong> shows that the memecoin could gain up to 35% and test a <strong>resistance at $0.24040<\/strong>. This would be the upper limit of a fair value gap on the daily <strong>DOGE\/USDT<\/strong> chart. The lower limit of this gap, at <strong>$0.21465<\/strong>, poses a hurdle on the way to $0.24040, representing <strong>over 20% gains<\/strong>.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"1024\" height=\"727\" src=\"https:\/\/investx.fr\/en\/wp-content\/uploads\/sites\/5\/2025\/04\/dogeusdt-2025-04-02-21-10-27-1024x727-1.jpg\" alt=\"Dogecoin price Musk announcement\" class=\"wp-image-2263\" srcset=\"https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2025\/04\/dogeusdt-2025-04-02-21-10-27-1024x727-1.jpg 1024w, https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2025\/04\/dogeusdt-2025-04-02-21-10-27-1024x727-1-300x213.jpg 300w, https:\/\/media.investx.fr\/wp-content\/uploads\/sites\/5\/2025\/04\/dogeusdt-2025-04-02-21-10-27-1024x727-1-768x545.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center\">Source: TradingView<\/p>\n\n\n\n<p>Two key technical indicators, the <strong>RSI <\/strong>and the <strong>MACD<\/strong>, support a <strong>bullish thesis for Dogecoin<\/strong>. The RSI is at 46 and trending upwards, while the MACD shows green bars above the neutral line. These elements indicate a <strong>positive momentum<\/strong> underlying DOGE&#8217;s price trend.<\/p>\n\n\n\n<p>However, if Dogecoin fails to sustain trader demand, the <a href=\"https:\/\/investx.fr\/en\/crypto-news\/top-3-altcoins-buy-market-rebound\/\">altcoin<\/a> could slide down to its low of March 11 and <strong>test support at $0.14280<\/strong>. A sudden drop in Bitcoin (BTC) could lead to a sharp price correction in <a href=\"https:\/\/investx.fr\/en\/crypto-investing\/\">cryptocurrencies<\/a>, bringing DOGE back to this level.<\/p>\n\n\n\n<p>The excitement around Dogecoin took a hit with <strong>Elon Musk&#8217;s clarification<\/strong> on the lack of future plans for the <strong>use of DOGE<\/strong> by the federal government or the Department of Government Efficiency. While the sentiment of <strong>DOGE <\/strong><a href=\"https:\/\/investx.fr\/en\/trading\/\"><strong>traders<\/strong> <\/a>remains above the 30-day moving average, it could decline in case of a widespread market correction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" class=\"wp-block-heading\" id=\"elon-musk-moving-away-from-doge-only-to-return-stronger\"><strong>Elon Musk Moving Away from DOGE&#8230; Only to Return Stronger ?<\/strong><\/h2>\n\n\n\n<p>Musk has gained significant popularity in the crypto community as the &#8220;<strong>Dogefather<\/strong>.&#8221; As he <strong>distances himself from DOGE<\/strong> and the Department of Government Efficiency, it remains to be seen if the memecoin can maintain its relevance.<\/p>\n\n\n\n<p>Dogecoin has emerged as one of the <strong>leading memecoins<\/strong>, with a market capitalization exceeding <strong>$26 billion<\/strong>. If it can digest this development and sustain investor demand, DOGE could retain its significance. It would continue to find use cases, especially with the progress of the<strong> Dogecoin ETF project<\/strong>.<\/p>\n\n\n\n<p>If you are considering buying <strong>Dogecoin (DOGE)<\/strong>, the platform <strong><a href=\"https:\/\/www.weex.com\/newbieActivities?id=520&amp;type=BEGINNER_TASK&amp;vipCode=ku3x\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">WEEX<\/a><\/strong> allows you to do so with ease.<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Create a <strong>WEEX account<\/strong> by signing up in a few minutes.<\/li>\n\n\n\n<li>Deposit <strong>funds<\/strong> via credit card, bank transfer, or crypto transfer.<\/li>\n\n\n\n<li>Access the market and search for the <strong>DOGE\/USDT pair<\/strong>.<\/li>\n\n\n\n<li>Complete the purchase and find the <strong>DOGE tokens<\/strong> in your account.<\/li>\n<\/ol>\n\n\n\n<p>Prior to any investment, it is always recommended to stay informed about the market&#8217;s condition and the <strong>risks involved<\/strong>. Above all, never invest more than you can afford to lose.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.weex.com\/newbieActivities?id=520&amp;type=BEGINNER_TASK&amp;vipCode=ku3x\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Deposit $200 and receive 50 USDT for free !<\/a><\/div>\n<\/div>\n\n\n\n<p><strong>More on this topic :<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/investx.fr\/en\/crypto-news\/trump-new-tariffs-bitcoin-impact-price\/\">Trump unveils new Tariffs ! What does this mean for Bitcoin ?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/investx.fr\/en\/crypto-news\/chainlink-link-set-surge-35-coming-days\/\">Why Chainlink (LINK) is set to surge 35% in the coming days !<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/investx.fr\/en\/crypto-news\/crypto-analyst-ripple-xrp-price-surging-6-coming-weeks\/\">Ripple (XRP) to Hit $6 ? Top Analyst Predicts a Major Surge !<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Has the &#8220;Dogefather&#8221; abandoned his protege? Elon Musk&#8217;s absence in recent announcements is causing a drop in Dogecoin. However, could there still be potential for a rebound? Analysis.<\/p>\n","protected":false},"author":38,"featured_media":2250,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","faq_titre":"","questions_frequentes":"","custom_permalink":""},"categories":[11,10],"tags":[],"class_list":["post-2255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","category-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Has Elon Musk Turned His Back on Dogecoin ? Shocking Update !<\/title>\n<meta name=\"description\" content=\"Is Elon Musk abandoning Dogecoin? His recent absence sparks market uncertainty. What lies ahead for DOGE? 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