Dogecoin (DOGE) has dropped 8% in the past 24 hours, sliding to $0.15, signaling potential trouble for short-term holders.
The decline in Dogecoin's price is attributed to weaker market sentiment in the memecoin space, coupled with broader political and cultural tensions.
Tesla CEO Elon Musk's public dispute with U.S. President Donald Trump has added to the negative sentiment around Dogecoin, impacting its market dynamics.
Technical indicators like RSI and MACD suggest further downside for Dogecoin, with potential support levels at $0.14 and $0.12, as market confidence weakens and capital shifts away from memecoins.