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The Department of Government Efficiency price has dived 17% in the last 24 hours to trade at $0.09358 as of 7:10 a.m. EST on a 7% jump in trading volume to $14 million.
Department Of Government Efficiency Price May Rebound Within The Channel
The DOGE/USD chart on the 1-hour timeframe shows a clear bearish trend, with the price currently trading at $0.08738. The price has been moving within a descending bearish channel, indicating sustained downward pressure. However, it is now approaching a major support level of around $0.08000, where a double-bottom pattern is forming.
This is a significant development, as a double bottom typically signals a potential bullish reversal if confirmed by a breakout above key resistance levels. Immediate resistance lies at the 50-period moving average (MA) at $0.11397, with the 200-period MA at $0.15733 serving as the next major resistance. These levels will be critical in determining whether the price can reverse the ongoing downtrend.
DOGEUSD Analysis Source: Dextools.io
The indicators suggest mixed sentiment but show signs of potential recovery. The MACD is still below the zero line, reflecting bearish momentum, but the lines are converging, hinting at a possible bullish crossover. If confirmed, this could indicate a shift in momentum.
Meanwhile, the RSI is at 34.38, placing it in the oversold zone, which historically increases the likelihood of a price rebound. If the price can hold above the $0.08000 support and break out of the bearish channel with strong volume, the first targets would be $0.11397 and then $0.15733.
However, a failure to hold the $0.08000 level could lead to further declines, possibly extending the downtrend. Traders should monitor these levels closely for confirmation of the next move.
Flockerz Presale Powers Toward $8 Million – Best Crypto To Buy Now?
As the Department Of Government Efficiency price continues to drop, a smaller-cap meme coin rival called Flockerz (FLOCK) has just surged past $7.3 million in funds raised in its presale.
YouTuber Crypto Zeus, with 79K subscribers, says $FLOCK “could be huge.”
Flockerz stands out because of its innovative Vote-to-Earn (V2E) reward system, prompting it to call itself ”The People’s Meme Coin.” In this ecosystem, the community doesn’t just hold tokens but actively participates in shaping the project’s future.
Each time token holders vote on key decisions, they are rewarded with FLOCK tokens, turning governance into an income opportunity.
This decentralized model empowers the community, making voting not only a chance to influence the project but also a way to earn more tokens.
In addition, Flockerz offers a remarkable 378% annual staking return, further rewarding holders. Whether through voting or staking, Flockerz provides earning potential, setting it apart from the vast majority of meme coins flooding the market.
The Museum of Flocktopia holds only the FINEST art pieces.
The Louvre has nothing on this. 🖼🐦💙 pic.twitter.com/rlEjz8ZS5L
— Flockerz (@FlockerzToken) December 19, 2024
The meme coin sells for $0.0064781 and can be bought with ETH, USDT, BNB, or a bank card.
Investors will need to act fast if they want to acquire the token at the best rate because FLOCK’s price is scheduled to increase with each subsequent stage of its presale.
There are less than two days left to buy the meme coin before its next price hike.
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