๐๐ Shifting Sentiment Around Dogecoin (DOGE)
After a strong 105% rally, sentiment around Dogecoin (DOGE) has shifted. Despite this, DOGE seems to be preparing for another upward move. The broader crypto market is currently struggling, experiencing declines likely due to price corrections after recent gains.
๐ฃ๏ธ Musk and DOGEโs Political Spotlight
DOGE gained attention recently when Elon Musk made a contribution to Donald Trumpโs campaign. During the campaign, Trump proposed a โDepartment of Government Efficiency,โ abbreviated as DOGE. Following this, Trump announced that Musk and Vivek Ramaswamy would oversee this new department. Despite the buzz, DOGEโs price has remained stable, with no major shifts.
๐ DOGEโs Current Price Momentum
DOGE is currently trading around $0.35, down 10% in the past 24 hours. Trading volume has also dropped by 30%, indicating reduced trader participation as it hovers within a consolidation zone.
๐ Key Technical Levels for DOGE
Experts note DOGE is at a critical support level of $0.35, just 3% away from a potential breakdown. If it closes below $0.35, a significant decline could follow. Conversely, a breakout above $0.41 may spark renewed bullish momentum.
These levels are crucial as traders await a clearer direction for DOGEโs next move.
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