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Dogecoin Drops as Much as 12% Amid Trump-Musk Drama

Dogecoin DOGE experienced a dramatic 12.5% decline over the past 24 hours, plunging from 19 cents to 16 cents as tensions between President Donald Trump and technology entrepreneur Elon Musk weighed down on crypto markets.
News Background
- Dogecoin’s latest plunge comes against a backdrop of risk-off sentiment.
- Elon Musk — long known as a Dogecoin backer — said recently that the non-governmental Department of Government Efficiency (DOGE) would cease to exist as its work was deemed complete, cutting out a speculative catalyst that has oft impacted DOGE prices.
- Meanwhile, Musk’s public clash with former President Donald Trump over various economic and policy issues has drawn attention, adding another layer of intrigue to Dogecoin’s fortunes.
- While Musk’s support once propelled DOGE to dizzying heights, the token now faces the test of sustaining momentum amid shifting sentiment and global trade tensions.
As institutional investors reposition ahead of anticipated monetary policy shifts, DOGE’s future hinges on its ability to reclaim key resistance levels and rebuild trader confidence amid persistent volatility.
Price-Action
The sell-off was punctuated by heavy selling pressure during the 16:00-20:00 timeframe, with trading volume spiking to over 1 billion units — nearly five times the daily average — suggesting institutional distribution rather than retail panic.
The sell-off coincides with mounting global trade disputes that have weighed heavily on risk assets, including cryptocurrencies. While some modest stabilization has emerged in the 17 cents area, the technical picture remains challenging. The $0.190 level has now become a formidable resistance zone, with price action showing only tentative signs of recovery amid persistent market caution.
Technical Analysis Recap
- DOGE collapsed from $0.193 to $0.169, a 12.5% decline.
- Most intense selling occurred between 16:00-20:00, with volume exceeding 1 billion units — nearly 5x the average.
- Resistance formed at $0.190, with cascading sell orders rejecting multiple recovery attempts.
- Support established at $0.169-$0.170, with substantial buying interest creating a high-volume support zone.
- Price action has stabilized in the $0.171-$0.172 range, with modest accumulation patterns observed.
- Specific buying pressure emerged at 01:23, 01:34, and 01:50, briefly pushing price toward $0.172.
- A consolidation pattern is forming above the critical $0.169-$0.170 support zone, though risk remains elevated.
Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Bitcoin Holds Above $105K Despite Donald Trump’s Threats Against Elon Musk

Bitcoin BTC held firm above $105,000 on Saturday despite an unusually combative and personal escalation in the Trump-Musk feud that could rattle traditional markets next week.
On Saturday, in a phone interview with NBC News, President Trump warned that there would be “serious consequences” if Elon Musk financially backed Democratic candidates running against Republicans who support the GOP’s budget bill. “If he does, he’ll have to pay the consequences for that,” Trump said, adding later, “He’ll have to pay very serious consequences if he does that.”
Trump, who has often boasted of past support from Musk, firmly dismissed the idea of mending ties. “No,” he said when asked whether he wished to repair the relationship. “I would assume so, yeah,” he added when asked if the rift was permanent.
Despite the intensifying feud between two of the most influential figures in U.S. politics and technology, Bitcoin remained unfazed. The cryptocurrency held onto earlier gains and continues to trade near weekly highs. The market’s composure suggests that traders may increasingly view BTC as a hedge against institutional dysfunction, or at least as an asset insulated from the partisan fallout that tends to impact equities more directly.
Technical Analysis Highlights
- BTC traded in a 24-hour range of $1,162 (1.13%), from a low of $104,624 to a high of $105,786, according to CoinDesk Research’s technical analysis model.
- Strong support formed at $104,800, where above-average volume confirmed buyer interest.
- Resistance at $105,200 was broken and has since flipped into a short-term support zone.
- Volume peaked at 378 BTC during key breakout moments, especially around 13:43–13:46 and 13:53.
- A short consolidation occurred between $104,300–$104,600 before the final surge to near highs.
- An ascending price channel remains intact, showing bullish structure despite intermittent pullbacks.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Ether Holds Steady Above $2,500 as ETF Demand Signals Institutional Confidence

Ether ETH has rebounded firmly from key support near $2,460, recovering losses and stabilizing above the $2,500 threshold amid broader market volatility.
The rally follows a higher low formation backed by above-average volume, signaling growing market confidence.
Institutional participation appears to be reinforcing the trend, with BlackRock’s ETHA ETF reporting $492 million in net inflows last week.
Total holdings now exceed $4.84 billion, reinforcing long-term bullish sentiment even as price action remains sensitive to geopolitical developments.
Traders are watching to see if ETH can challenge resistance in the $2,520–$2,530 range.
Technical Analysis Highlights
- ETH traded within a $72 range over 24 hours, from a low of $2,460.35 to a high of $2,532.41.
- A key support zone formed at $2,460–$2,470, where ETH bounced on strong volume during midnight hours.
- Final hour surge reached $2,515.11, backed by 5,919 ETH in volume.
- Higher low structure established with interim support at $2,485 and resistance at $2,503.
- Final retracement held support at $2,507, with price consolidating around $2,510 into the close.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Coinbase, BiT Global End Legal Fight Over WBTC Delisting

Coinbase and BiT Global have reached a legal settlement that ended their dispute over the delisting of BiT Global’s wrapped bitcoin (wBTC) token on Coinbase.
According to a joint court filing, BiT Global has agreed to dismiss its lawsuit against the crypto exchange with prejudice, meaning the case cannot be brought again in the future. The filing notes that both companies will cover their own legal expenses.
BiT Global had filed the lawsuit last year in the Northern District of California after Coinbase delisted the token over what it said was “unacceptable risk” that the tokenized BTC would “fall into the hands of Justin Sun.”
Sun became affiliated with wBTC in August last year through a partnership, prompting Coinbase to question BiT Global about his role. Sun, a Chinese-born crypto billionaire, has nevertheless been supporting the token, with World Liberty Financial dropping its cbBTC for wBTC after he joined as an advisor.
The suit alleged the exchange’s decision was unjustified and harmed the token’s liquidity and reputation while favoring Coinbase’s competing asset cbBTC. Coinbase launched cbBTC just two months before announcing it was delisting wBTC.
The dismissal does not disclose any settlement terms beyond the cost arrangement.
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