Ah, the illustrious Dogecoin! Once a beacon of hope for the whimsical investor, it now finds itself in a rather unfortunate predicament, akin to a dandy caught in a downpour without an umbrella. The price has plummeted in recent months, and lo! A rare death cross pattern looms ominously on the horizon, like a dark cloud over a picnic. ☔️
On a rather dismal Sunday, our dear Dogecoin (DOGE) retreated to a paltry $0.019, its lowest ebb since the fateful day of November 7 last year. A staggering plunge of over 60% from its lofty heights in November! One might say it has taken a tumble worthy of a tragic hero. 🎭
But fear not, for Dogecoin is not alone in its descent into the abyss. Other meme coins, those fickle friends, have also taken a nosedive. Shiba Inu, Pepe, and the ever-charming Dogwifhat have all succumbed to the gravitational pull of despair, each down by over 50%. It seems the meme coin party has turned into a rather somber affair. 🎉➡️😢
And what of our dear Elon Musk, the once-mighty patron of this digital canine? He finds himself under the weight of intense scrutiny this year, with Bloomberg reporting a staggering $103 billion drop in his net worth. Alas, he is now worth a mere $330 billion—how will he ever manage? 😱
In a twist worthy of a Shakespearean drama, Donald Trump has begun to push back against Musk’s antics. The New York Times reports of a tense cabinet meeting where Musk clashed with officials like Marco Rubio. Such discord has prompted Trump to rein in Musk, who, in a delightful twist of fate, leads the Department of Government Efficiency—or DOGE, as it were. 🐶
With Tesla’s stock price tumbling and tensions brewing between Musk and Trump, the winds of change may soon blow Musk out of his department. Kalshi data suggests a 54% chance he may exit before July 2026. One can only imagine the psychological ramifications of such a departure on our beloved DOGE. 🧠💔
Dogecoin price analysis
As we gaze upon the daily chart, it becomes painfully clear that DOGE continues its strong downtrend, with investors adopting a rather cautious stance, as if they were at a dinner party with an uninvited guest. The impending death cross pattern, where the 200-day and 50-day Exponential Moving Averages cross, is a sight to behold. The last time this occurred was in July 2024, leading to a 40% drop—truly a spectacle for the ages! 🎢
Currently, Dogecoin languishes below the 61.8% Fibonacci Retracement at $0.2360, a clear indication that the bears are firmly in control. The MACD and the Relative Strength Index continue their downward spiral, as sellers set their sights on the next key point at $0.1680, the 78.6% retracement point. Should it fall below that, we may well be looking at a further decline to $0.80, a staggering 60% below the current level. One must wonder, is this the end or merely the beginning of a new chapter in the tragic tale of Dogecoin? 📉
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2025-03-09 18:49