DOGE Price Dynamics: Bulls Defend Support Amid Market Uncertainty

A summary of the latest developments and price movements in Dogecoin (DOGE), highlighting the impact of Elon Musk’s severance and global market uncertainty.

Dogecoin Price Update: Bulls Defend Support, RSI Rebounds

Dogecoin (DOGE) price stays below three major daily moving averages after Elon Musk severed ties with D.O.G.E. The leading meme coin trades at $0.1731 during early American hours on Tuesday, recovering from Monday’s support at $0.16. Uncertainty in global markets due to Trump’s tariff war heightens risk-off sentiment. Doge derivatives saw long liquidations of $3.3 million on Tuesday compared to $2.9 million in short liquidations. The RSI’s rebound above 40 points to a potential falling wedge pattern breakout targeting $0.25.

Elon Musk Accuses U.S. Government of Deleting Data to Hide Crimes

Elon Musk, the Chairman and CTO of X and SpaceX boss, accused U.S. Institute of Peace (USIP) employees of deleting a terabyte of financial data to cover up crimes. Musk claimed that the newly created Department of Government Efficiency (DOGE) was able to recover the deleted data due to its better understanding of the technology.

Dogecoin at Critical Junction

Dogecoin ($DOGE) is currently trading at $0.1711, up nearly 5% in the last 24 hours. It faces significant resistance at $0.18 and $0.21. According to UTXO Realized Price Distribution (URPD), more than 11.8 billion Doge are concentrated at $0.177, and over 10.4 billion DOGE are placed at $0.21. Breaking through both price points could ignite the next major bull rally.