Guys, Dogecoin has problems! After a crazy trip, the meme coin is facing a possible collapse of up to 60%.
DOGE recently fell to $0.019, a low that has not been observed since last November, which is a 60% decrease from its peak. Other meme coins, such as Shiba Inu and Pepe, are also experiencing heat, down more than 50%.
The main factor? Elon Musk, the biggest hype man of Dogecoin, is having a difficult year. His net worth decreased by an incredible $103 billion! In addition, there is a drama with Donald Trump, who may be trying to curb Musk’s influence, especially his role in the “Department of Government Efficiency,” or, as some jokingly call it, DOGE.
If Musk moves away from DOGE, it may seriously affect investor confidence.
From a technical point of view, things are also not very good. Dogecoin is on the verge of forming a “death cross” – a terrible pattern in which the 50-day moving average drops below the 200-day moving average. The last time it happened, DOGE fell by 40%!
Toncoin (TON) Value Forecast for March 26th
The value of Dogecoins has decreased to under $0.2360, notably the 61.8% Fibonacci retracement mark, implying that vendors are obtaining dominance. Furthermore, the MACD and RSI metrics are continuously diminishing, contributing to this pessimistic view. This intimates that vendors are observing the subsequent crucial mark at $0.1680, the 78.6% retracement. If the value falls past this juncture, it might precipitate an additional plunge to $0.08, which is 60% inferior to the present value.
