Dogecoin ($DOGE) took a hit today, dropping more than 4%, after Elon Musk dismissed speculation that the U.S. government might adopt the cryptocurrency. The Tesla CEO’s comments triggered a wave of selling pressure, rattling investors and pushing the meme coin lower.
Adding to the bearish outlook, technical analysts have pointed to a confirmed bearish flag pattern on $DOGE’s chart—a signal often associated with further declines. Market watchers are now warning of a potential dip toward $0.087 in the coming days, a level that could test the resilience of Dogecoin’s support base.
The sharp reaction underscores Musk’s outsized influence on cryptocurrency markets, where his words alone can sway prices. For now, $DOGE holders are left bracing for what might come next. #Dogecoin #TrendingTopic $DOGE #AmericanBitcoinLaunch
