{"id":2591,"date":"2024-11-13T14:03:07","date_gmt":"2024-11-13T14:03:07","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2591"},"modified":"2024-11-13T14:03:07","modified_gmt":"2024-11-13T14:03:07","slug":"dogecoin-dips-10-as-trump-taps-musk-and-ramaswamy-for-doge","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2591","title":{"rendered":"Dogecoin Dips 10% As Trump Taps Musk And Ramaswamy For \u2018DOGE\u2019"},"content":{"rendered":"
\n

Dogecoin (DOGE) experienced a sharp decline, dropping 10% in the last 24 hours. After surging to a peak of $0.4385 on Tuesday\u2014the highest since May 2021\u2014the meme-based cryptocurrency has fallen over 16%. This downturn has occurred despite a significant announcement from President-elect Donald J. Trump.<\/p>\n

Dogecoin Slumps Despite \u2018DOGE\u2019 Formation<\/h2>\n

Trump unveiled the formation of the Department of Government Efficiency (DOGE), appointing tech mogul Elon Musk and Vivek Ramaswamy<\/a> to lead the initiative. In his statement on November 12, 2024, Trump expressed confidence that these \u201ctwo wonderful Americans will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies.\u201d He emphasized that their work would be \u201cessential to the \u2018Save America\u2019 Movement.\u201d<\/p>\n

Elon Musk highlighted the transformative potential of the initiative, remarking that it \u201cwill send shockwaves through the system, and anyone involved in government waste.\u201d The project aims to provide advice and guidance from outside the government, partnering with the White House and the Office of Management & Budget to drive large-scale structural reform. The goal is to create \u201can entrepreneurial approach to government never seen before,\u201d with the work concluding no later than July 4, 2026\u2014the 250th anniversary of the Declaration of Independence.<\/p>\n

The announcement was anticipated to generate positive momentum <\/a>for Dogecoin, given the acronym DOGE and Musk\u2019s well-known affinity for the memecoin. The establishment of the Department of Government Efficiency places Dogecoin in an unprecedented spotlight. With high-profile figures like Trump<\/a> and Musk potentially referencing DOGE in governmental contexts, the meme coin could see heightened mainstream exposure.<\/p>\n

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pic.twitter.com\/Vnk4MCAofY<\/a><\/p>\n

\u2014 Elon Musk (@elonmusk) November 13, 2024<\/a><\/p>\n<\/blockquote>\n

One of the most intriguing aspects is the potential for Dogecoin to become a symbolic representation of the Trump administration. The Department of Government Efficiency is likely to make headlines regularly, and with Musk\u2019s involvement, the attention could be enormous. Musk already delivered his first DOGE related meme via X.<\/p>\n

\n

pic.twitter.com\/4K0ruu7UMS<\/a><\/p>\n

\u2014 Elon Musk (@elonmusk) November 13, 2024<\/a><\/p>\n<\/blockquote>\n

Crypto analyst degentrading (@degentradingLSD) noted<\/a> on X that \u201cthe bull case for DOGE is that you have a meme here relentlessly promoted by Trump because it\u2019s his Manhattan Project, shilled by Musk\u2014when have you seen this guy fail\u2014and shilled by Vivek\u2014the ultimate smooth talker. It will be a blitz of attention.\u201d<\/p>\n

Despite these optimistic projections, Dogecoin\u2019s price trajectory took an unexpected downward turn. Analyst Kevin (@Kev_Capital_TA) provided<\/a> a technical perspective via X, explaining that the Dogecoin daily Relative Strength Index (RSI) hit 95: \u201cEvery time in history the DOGE RSI hit 95 on the daily, it preceded a pretty sizable correction. This technical indicator has never failed in the past, even during the bull run in 2020-2021.\u201d<\/p>\n

He predicts that \u201cDogecoin will go back to $0.26\u2013$0.28 and then reload to come back up and break all-time highs. Daily RSI just tapped 94 again and the 0.786 Fibonacci retracement.\u201d Kevin added that if Bitcoin reaches $94,000\u2013$95,000 in the short term, it could \u201cdrag DOGE higher,\u201d but he still anticipates a \u201cbigger correction before heading higher\u201d because \u201cthat RSI needs to cool off badly.\u201d<\/p>\n

At press time, DOGE traded at $0.35.<\/p>\n

\"Dogecoin<\/div>\n","protected":false},"excerpt":{"rendered":"

Dogecoin (DOGE) experienced a sharp decline, dropping 10% in the last 24 hours. After surging to a peak of $0.4385 on Tuesday\u2014the highest since May 2021\u2014the meme-based cryptocurrency has fallen over 16%. This downturn has occurred despite a significant announcement from President-elect Donald J. Trump. Dogecoin Slumps Despite \u2018DOGE\u2019 Formation Trump unveiled the formation of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2591","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2591"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2591\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}