Coinspeaker
Dogecoin Not Part of Elon Musk’s D.O.G.E, Will Meme Coin Crash?

On March 30, during the town hall meeting hosted by American PAC, US President Donald Trump’s close associate Elon Musk stated that Dogecoin DOGE $0.16 24h volatility: 4.1% Market cap: $24.15 B Vol. 24h: $1.15 B won’t be part of his newly formed Department of Government Efficiency (D.O.G.E). “There are no plans for the government to use Dogecoin or anything as far as I know,” Musk said.

He said that he came up with the D.O.G.E federal department after consultations from the internet, which led him to rename the Government Efficiency Commission to DOGE. “The names are similar, but they’re doing two very different things. We’re just literally trying to make the government 15% more efficient,” added Musk. 

Elon Musk has been a long-time proponent of the Dogecoin meme coin, and thus, many speculated that the tech billionaire chose the DOGE acronym for the same reason. Additionally, the Dogecoin logo also appeared for a brief period on the department’s official website after President Donald Trump’s inauguration in January.

Dogecoin Price Under Selling Pressure

Dogecoin price has come under strong selling pressure, dropping by 5.83% in the last 24 hours, while slipping back to the crucial support of $0.1615. Today’s selling pressure comes with daily trading volumes surging 4.5% to more than $1.03 billion. Additionally, the DOGE futures open interest has dropped by 7.31% to $1.55 billion, as per the CoinGlass data. 

However, highlighting Dogecoin’s resilience, crypto analyst Ali Martinez noted that DOGE continues to hold above the lower boundary of its current trading channel. According to Martinez, a surge in demand at this level could trigger an upward move.

Elon Musk’s DOGE on a Roll

Ever since the Donald Trump administration took charge in mid-January, Elon Musk’s Department of Government Efficiency has announced swift measures to cut government spending. 

However, due to DOGE’s major cost-cutting measures, there have been mass layoffs across more than a dozen US agencies, including the US Agency for International Development (USAID) and the Internal Revenue Service (IRS). During his Sunday address at the town hall, Musk also questioned why the Fed employs a massive 20,000 people.

However, even DOGE has been under scrutiny after several errors in the layoff process, leading to dozens of lawsuits. Despite the controversy, the department claims on its official website that it has saved the US government $130 billion, translating to approximately $807 per taxpayer.

Dogecoin Not Part of Elon Musk’s D.O.G.E, Will Meme Coin Crash?

Bitcoin (BTC) is currently teetering on a crucial edge, with price action signaling potential for either a sharp breakdown or a decisive rebound. As we close out March 2025, the crypto market appears tense—investors are watching the charts closely, looking for confirmation. Let’s dig into what’s unfolding on the Bitcoin price daily chart, interpret the technical indicators, and try to answer the burning question—what’s next for BTC?

Bitcoin Price Prediction: Is Bitcoin Losing Its Bullish Momentum?

From the daily Heikin Ashi candlesticks, it’s evident that Bitcoin has been stuck in a sluggish drift since mid-March. The current price sits at around $81,868, with red candles gaining dominance, indicating selling pressure. The candles lack long upper wicks, a common trait during consolidations or bearish momentum buildups. The price is now trending below all key moving averages, a technical warning that the bulls are losing grip.

What Are the Moving Averages Saying?

The chart is overlaid with a Moving Average Ribbon featuring SMA 20, 50, 100, and 200. Here's the breakdown:

• SMA 20 ($84,356) and SMA 50 ($88,529): Both short-term MAs are above the current price, confirming short-term bearishness.
• SMA 100 (~$93,580): Mid-term resistance. Price has stayed far below it for weeks.
• SMA 200 (~$85,956): This long-term trendline is now acting as an overhead resistance, a bearish development. Ideally, in bullish markets, BTC trades above this.

When Bitcoin price trades below the 200-day SMA, it often signals macro-weakness. The compression of the moving averages above the price suggests a possible "death ribbon" effect, where convergence could lead to a continuation of downside unless bulls step in aggressively.

Are Accumulation Trends Showing Strength or Weakness?

Below the price chart, the Accumulation/Distribution Line (ADL) provides insight into volume flow. The ADL currently reads 1,588.39, and while it's been recovering from January lows, the last few days show flattening and slight down-tilt. This suggests distribution is beginning to outweigh accumulation again—essentially meaning more traders are offloading BTC than buying.

ADL is a volume-based indicator that tracks the flow of money into or out of an asset. A rising ADL signals accumulation, while a falling or flat one signals distribution. BTC’s current ADL action aligns with the price slipping under key SMAs.

Where Is the Nearest Support Zone for Bitcoin?

Bitcoin's nearest support lies around the $80,000 psychological level, which has previously acted as a springboard in late January. A breakdown below this level could expose BTC to a deeper retracement toward $75,000 or even $72,000, depending on the velocity of the sell-off. Conversely, if BTC finds support here and volume picks up, it might test the 200 SMA again at ~$86,000.

This zone is absolutely crucial. It’s not just a technical level but also a sentiment trigger. A bounce here could reignite bullish interest—while a break might spiral into FUD (fear, uncertainty, and doubt).

Can Bulls Reclaim Dominance in April?

For bulls to regain control, they need to push BTC price back above the 20-day and 50-day SMAs, turning them into support. That means a daily close above $88,500 would be an early sign of strength. But more than that, it will take volume confirmation and a visible uptick in the ADL to support any upward momentum.

If that happens, BTC price could re-attempt a rally back toward $93,000+, and reclaiming the 100 SMA could open doors for retesting all-time highs.

Bitcoin Price Prediction: Crash or Comeback?

Given the current trend, short-term bias is tilted bearish, but the structure still holds above key psychological levels. If BTC price closes multiple daily candles below $80,000, we may see accelerated selling. However, if it holds and bounces with volume confirmation, we could witness an April surprise rally.

Short-Term Bearish Target: $78,000
Neutral Zone: $80,000–$86,000
Bullish Breakout Target: $93,000+

Bitcoin price is approaching a pivotal moment. With daily candles closing below major moving averages and volume trends cooling off, cautious sentiment is warranted. Yet crypto often thrives in uncertainty—and a sudden reversal is always on the table. For now, traders should monitor the $80K level like a hawk and prepare for volatility in either direction as April begins.