The Department Of Government Efficiency price has slumped over 2% in the last 24 hours to trade at $0.03945 as of 4:00 a.m. EST on a 50% plunge in trading volume to $3.1 million.
This slump in the DOGE price comes as US President Donald Trump considers returning 20% of the savings from Elon Musk’s Department of Government Efficiency (DOGE) to American citizens in a so called ”DOGE dividend.”
Speaking at a Miami summit, Trump also proposed using another 20% of DOGE’s savings to help reduce the $36 trillion national debt. The government department claims to have saved $55 billion by canceling government contracts and cutting staff, though these figures remain unverified.
Department Of Government Efficiency Price Struggles Below Key Resistance
The DOGE/USD 4-hour chart reveals a prolonged bearish channel, which led to a continuous downtrend. However, a double-bottom pattern recently formed at a key support level, triggering a minor recovery. Despite this, DOGE is now consolidating inside a descending triangle, signaling a potential breakout soon.
The 50-period Simple Moving Average (SMA) is positioned around $0.04732, significantly above the current price. This indicates that DOGE remains in a bearish phase unless a breakout above this level occurs. Trading below the 50 SMA indicates persistent downward pressure. A move above this level would be an early sign of a bullish reversal.
DOGEUSD Analysis Source: Dextools.io
Looking at the Moving Average Convergence Divergence (MACD) indicator, both the MACD line (-0.00265) and signal line (-0.00256) remain in negative territory, reflecting weak momentum. The histogram is relatively flat, showing low volatility and minimal buying pressure. However, a potential bullish crossover could emerge if buyers step in, which may drive the price upward.
The Relative Strength Index (RSI) currently sits at 40.91, below the neutral 50 mark. This indicates weak momentum, and unless the RSI climbs above 50-55, buying pressure will remain subdued. A move above this range would provide further confirmation of a trend reversal.
Key resistance levels to watch include $0.04732 (50 SMA). If DOGE manages to break above this level, it could open the door for a rally towards $0.060-$0.065. On the downside, immediate support lies at $0.039. A breakdown below this level could trigger further declines toward the $0.035-$0.030 range.
DOGE remains neutral to bearish. For a potential bullish reversal, traders should monitor whether the price can reclaim the 50 SMA and whether the MACD confirms a bullish crossover.
This AI Pepe Presale Hurtles Past $6.5 Million – Best Crypto To Buy Now?
While the Department Of Government Efficiency price gears up for a potential rebound from support levels, a new AI-powered crypto called Mind of Pepe (MIND) is stealing the spotlight. In just two months, its presale has raised over $6.5 million, and investors continue to buy in.
MIND isn’t just another meme coin, it’s powered by a self-evolving AI that tracks real-time market trends. As the first AI agent featuring the iconic Pepe meme, it stands out as a crypto game-changer.
MIND connects to X and Discord, using hive-mind analysis to detect emerging trends and deliver top investment opportunities directly to the community, giving token holders a real edge.
As MIND’s momentum continues, an analyst from 99Bitcoins, with 726K YouTube subscribers, predicts it could surge 100X after launch.
On top of that, investors can stake their MIND tokens and earn a massive 346% annual yield.
Right now, MIND is priced at just $0.0033587, and you can grab some using crypto or a bank card.
Don’t wait too long, as MIND’s price will undergo a a series of scheduled price increases as its presale progresses.
Buy MIND on its official website here before the next price hike in 12 hours.
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