As ‘Black Monday’ slaughter fears rise, Dogecoin breaks $0.15 support
On Monday, Dogecoin falls over 10% to $19.78 billion, losing $3.73 billion.
CNBC anchor Jim Crammer predicts a worldwide financial carnage if Trump remains intrasigent.
DOGE's protracted decline is thwarted by the MACD indicator's sell signal.
After global markets cool from Trump's tariffs, a falling wedge pattern suggests a comeback.
On Monday, Dogecoin (DOGE) plunged like other cryptocurrencies. The top meme currency fell 19.7% in 24 hours to $0.1354. DOGE's market capitalization fell to $19.78 billion from $24.67 billion on Sunday, and its weekly loss was 19.4%.
Dogecoin falls as Jim Crammer predicts ‘Black Monday’ sell-off. Dogecoin has been hit hard by global market headwinds as US President Donald Trump maintains high tariffs to reduce the trade gap.
On Sunday, CNBC commentator Jim Crammer predicted a worldwide "Black Monday" sell-off like the 1987 crash unless Trump rethinks his tariff proposal, which affects 100 nations.
“If the president doesn't reach out and reward these countries and companies that play by the rules, then the 1987 scenario–where we went down three consecutive days and then 22% on Monday–has the most cogency,” Crammer said Saturday.
On April 2, President Trump imposed 10% reciprocal tariffs, effective Wednesday. China has already retaliated with tariffs, further destabilizing global markets.
It won't be long until we know. It will be known by Monday, Crammer said.
Bitcoin is falling, nearing $75,000 on Monday in Europe. Ethereum, the leading smart contracts token, fell 18% to $1,469 in 24 hours, while XRP retested $1.70. The crypto market capitalization is $2.46 trillion, down 12.5%.
Dogecoin bullish comeback?
Dogecoin's technical outlook is bleak after losing $0.15 support. The 50-day Exponential Moving Average (EMA) crossing below the 200-day EMA created a death cross signal, fueling negative momentum.
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