DOGE Plummets as Elon Musk Shuts Down Hopes of U.S. Government Adoption!
Dogecoin is under siege, plummeting toward $0.16 after a major market shakeup. A sharp selloff sent DOGE reeling as Elon Musk officially denied any U.S. government plans to adopt the meme coin, crushing rumors that had fueled excitement earlier this year.
The fallout was immediate and brutal—with over $9 million in liquidations and traders scrambling to react. But with DOGE’s whales still active, could a massive rebound be on the horizon?
DOGE Faces Heavy Selling Pressure—But Could This Be a Golden Buying Opportunity?
📉 The numbers are in, and they’re alarming:
🔻 $9 million liquidated—including $6.5M in long positions
🔻 Open interest tanks by 1.44%, falling to $1.6 billion
🔻 $4.2 million withdrawn from exchanges—signaling a potential accumulation phase
Musk’s clarification came after a mysterious listing on a government website sent DOGE soaring by 14% in February. While the Tesla and SpaceX CEO remains a staunch supporter of DOGE, this latest revelation crushed hopes of official backing, leaving traders in disarray.
However, big money is moving off exchanges—a strong indicator that whales might be accumulating at lower levels. Are smart investors buying the dip before DOGE makes its next big move?
Technical Outlook: DOGE Teetering on a Knife’s Edge!
🔴 Bearish Warning Signs:
🚨 Dogecoin is below the 20-day EMA ($0.171), signaling weak momentum.
🚨 RSI is in bearish territory, suggesting sellers still control the market.
🚨 If DOGE breaks below $0.16, expect a nosedive toward $0.143—or even $0.11!
🟢 Bullish Rebound Possibilities:
✅ Buyers are aggressively defending the $0.16 level.
✅ If DOGE reclaims the 50-day SMA, it could trigger a surge toward $0.20!
✅ A breakout past $0.25 could send Dogecoin skyrocketing toward $0.29!
Final Warning: DOGE Could Be One Breakout Away from a Massive Rally!
🚀 Dogecoin’s history proves one thing—never count it out.
🔥 If bulls step in, DOGE could see a rebound toward $0.20, then $0.25—and beyond!
🔥 Smart investors are watching for accumulation signals—don’t be left behind!
Is this the last chance to buy Dogecoin before the next pump? The answer might come sooner than you think.
🔹 Don’t wait—DOGE’s next move could define its 2025 bull run! 🔹
💬 What’s your prediction? Will DOGE crash further or explode to new highs? Drop your thoughts in the comments! 🚀