Dogecoin has experienced a significant drop of 12.5% over the last 24 hours, falling from $0.19 to $0.16, influenced by escalating tensions between President Donald Trump and tech mogul Elon Musk.

Key Highlights:

• Dogecoin’s price declined during heavy trading hours, particularly between 16:00 and 20:00, with trading volumes exceeding 1 billion units.
• The market is now seeing resistance at the $0.190 level, with support around $0.169 to $0.170, indicating a volatile environment.

Recent Details:

• The price of Dogecoin (DOGE) is currently listed at $0.17727.

Context:

• This price drop comes amidst a broader risk-off sentiment in the market. Musk’s recent assertions about the displacement of the non-governmental Department of Government Efficiency (DOGE) may have removed a speculative driving factor behind the currency’s value.
• Additionally, Musk’s confrontations with Trump regarding economic policies have further complicated the token’s trajectory.

The future of DOGE is deeply tied to external market dynamics and whether it can reclaim pivotal resistance levels amidst ongoing fluctuations.