Dogecoin Slides Amid Trump-Musk Feud, Market Turmoil

Dogecoin (DOGE) has declined 7–12.5% in the past 24 hours amid escalating public tensions between President Donald Trump and Elon Musk, as well as broader risk-off sentiment in the crypto market. The sell-off has been exacerbated by concerns about a potential U.S. recession and global trade disputes, leading to heavy institutional selling and DOGE trading as low as $0.16–$0.17. Despite the volatility, DOGE remains above key technical support zones, including a 600-day support trend and the Gaussian Channel's lower band. Trading volumes have surged, reflecting heightened market interest and the importance of macroeconomic and political developments for DOGE’s future trajectory. While short-term sentiment is cautious, some analysts and institutional investors remain optimistic about the long-term prospects of cryptocurrencies. The ability of DOGE to reclaim key resistance levels will be critical in restoring trader confidence.