{"id":56776,"date":"2025-07-29T16:51:45","date_gmt":"2025-07-29T16:51:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/elon-musks-dogecoin-tweet-fails-to-stop-the-decline-can-doge-recover\/"},"modified":"2025-07-29T16:51:45","modified_gmt":"2025-07-29T16:51:45","slug":"elon-musks-dogecoin-tweet-fails-to-stop-the-decline-can-doge-recover","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/elon-musks-dogecoin-tweet-fails-to-stop-the-decline-can-doge-recover\/","title":{"rendered":"Elon Musk\u2019s Dogecoin tweet fails to stop the decline: can DOGE recover?"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/05\/image-24-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/05\/image-24-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/05\/image-24-smartcrop-750x375.webp\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/05\/image-24-smartcrop-363x181.webp\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Dogecoin continues to drop despite Musk\u2019s tweet supporting it over other cryptos.<\/li>\n<li>Key support at $0.2220 with risks of a further drop if the support does not hold.<\/li>\n<li>Recovery is possible if DOGE breaks $0.2350 resistance.<\/li>\n<\/ul>\n<p>Dogecoin (DOGE), the popular meme-based cryptocurrency, has once again found itself at the centre of the crypto spotlight.<\/p>\n<p>This time, however, not even Elon Musk\u2019s vocal support seems enough to stop its current price dip.<\/p>\n<div class=\"ad-banner  container  pt-1  px-0  mb-6\" data-partner=\"bitcoinpenguin\">\n        <a href=\"https:\/\/bitcoinpenguins.io\/en?utm_source=coinjournal&amp;utm_medium=banner&amp;utm_campaign=header\" target=\"_blank\" rel=\"nofollow sponsored noopener\"><br \/>\n            <img decoding=\"async\" class=\"p-0  m-0\" src=\"https:\/\/coinjournal.net\/wp-content\/themes\/c1-base\/dist\/img\/ad\/bitcoinpenguin\/en.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<p>Despite Musk\u2019s latest remarks affirming his fondness for Dogecoin, saying \u201cI like dogs and memes\u201d while dismissing other cryptocurrencies, DOGE continued its downward trend, dropping 6% today.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">ELON MUSK: \u201cI&#8217;m not going to be promoting crypto, at most, in a joking way. If you see me pumping crypto, it&#8217;s not me. I do think there&#8217;s merit in Bitcoin. I&#8217;ve sort of got a soft spot for Dogecoin because I like dogs and memes.&#8221; <a href=\"https:\/\/t.co\/UodntUe0Ad\">pic.twitter.com\/UodntUe0Ad<\/a><\/p>\n<p>\u2014 DogeDesigner (@cb_doge) <a href=\"https:\/\/twitter.com\/cb_doge\/status\/1948727463023944152?ref_src=twsrc%5Etfw\">July 25, 2025<\/a><\/p>\n<\/blockquote>\n<h2>Dogecoin price continues to slide bullish technical patterns<\/h2>\n<p>Dogecoin had surged an impressive 38% over the past month, buoyed by strong technical patterns and massive whale accumulation.<\/p>\n<p>Earlier, a popular analyst had identified a Livermore Cylinder pattern on the charts, a formation often associated with parabolic rallies.<\/p>\n<p>This pattern led many to believe DOGE could break through resistance levels and potentially reach $1.50 in the coming months.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/DOGE?src=hash&amp;ref_src=twsrc%5Etfw\">#DOGE<\/a> is trading inside a textbook Livermore Cylinder!<\/p>\n<p>Essentially a Bullish Megaphone, this pattern was invented by Jesse Livermore to point out the Accumulation Phase of an asset inside a Cylinder before it breaks to the upside aggressively.<\/p>\n<p>If that&#8217;s indeed the case for\u2026 <a href=\"https:\/\/t.co\/5ygeOnxd9l\">pic.twitter.com\/5ygeOnxd9l<\/a><\/p>\n<p>\u2014 TradingShot (@TradingShot) <a href=\"https:\/\/twitter.com\/TradingShot\/status\/1947953679698387336?ref_src=twsrc%5Etfw\">July 23, 2025<\/a><\/p>\n<\/blockquote>\n<p>Moreover, on-chain data shows that over $250 million worth of DOGE was scooped up by large holders in just 48 hours.<\/p>\n<p>Trading volume has also spiked by 77%, indicating heightened interest and aggressive buying pressure.<\/p>\n<p>These developments signalled to many that a significant breakout was on the horizon.<\/p>\n<p>However, following a recent decline from the $0.250 mark, Dogecoin began to underperform compared to <a href=\"https:\/\/coinjournal.net\/bitcoin\/what-is-bitcoin\/\">Bitcoin<\/a> and <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum<\/a>.<\/p>\n<p>The memecoin has dropped below several support zones, and now trades under both the $0.2320 level and its 100-hourly simple moving average, leaving many traders cautious.<\/p>\n<h2>Bear pressure mounts<\/h2>\n<p>Technically, Dogecoin is now facing resistance at $0.2280 and $0.2350.<\/p>\n<p>A bearish trend line has formed on the hourly chart, suggesting further downward pressure unless bulls reclaim these critical levels.<\/p>\n<p>In addition, the hourly MACD is gaining strength in the red zone, while the Relative Strength Index (RSI) remains below the neutral 50 level.<\/p>\n<p>A key support has formed at $0.2220, and a drop below this could expose DOGE to further declines toward $0.2120 and possibly even $0.2054.<\/p>\n<p>If DOGE breaks below the $0.2054 level, the next downside targets could be $0.1980 or $0.1947, <a href=\"https:\/\/www.coinlore.com\/coin\/dogecoin\">according to CoinLore<\/a>. Momentum indicators also reflect this bearish turn.<\/p>\n<p>Nevertheless, there is still a chance for a recovery. If Dogecoin climbs above $0.2280 and sustains a move past $0.2350, it could attempt to retest the $0.250 level.<\/p>\n<p>A strong close above $0.2420 might shift momentum back in favour of the bulls.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/elon-musks-dogecoin-tweet-fails-to-stop-the-decline-can-doge-recover\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Dogecoin continues to drop despite Musk\u2019s tweet supporting it over other cryptos. Key support at $0.2220 with risks of a further drop if the support does not hold. Recovery is possible if DOGE breaks $0.2350 resistance. Dogecoin (DOGE), the popular meme-based [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":56777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/56776"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=56776"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/56776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/56777"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=56776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=56776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=56776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}