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The Department of Government Efficiency price plunged 7% in the last 24 hours to trade at $0.02163 as of 3:37 a.m. EST, with trading volume dropping 1% to $1.8 million.
The drop in the DOGE price comes after Elon Musk confirmed that he is quitting his job as the White House’s government cost-cutting czar, admitting that the hustle was an uphill battle.
Furthermore, Musk came into Trump’s government as a Special Government Employee, which by law, he could only serve for a maximum of 130 days, set to finish on May 30.
As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending.
The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.
— Elon Musk (@elonmusk) May 29, 2025
Department Of Government Efficiency Price Bearish
The DOGE price, after a prolonged uptrend from the beginning of May, has been on a constant downtrend within a falling channel pattern. According to data from Coingecko, the rally has pushed the Department of Government Efficiency up 65% in the last month.
However, the price of DOGE seems to be invalidating the bullish outlook, as it aims to sustain its trend within the channel.
The sustained trend has pushed the price of Department of Government Efficiency to trade below the 50 Simple Moving Average (SMA) on the 4-hour chart, which now acts as the immediate resistance zone around $0.025, as GeckoTerminal data shows.
Meanwhile, the 200-day SMA is acting as the immediate support level at $0.02019.
The current sentiment remains bearish, with the Relative Strength Index (RSI) now trending downwards to the oversold level, currently at 35.
According to the DOGE price analysis, the asset’s outlook remains bullish. However, traders could still push it to the support level around $0.01708, which is acting as a cushion against downward pressure.
If the bulls manage to hold the pressure from the bears at that level, the price of DOGE could recover, and possibly rise to the resistance level around $0.03025.
Meanwhile, opportunistic investors are redirecting their funds to a new ICO called Snorter Token (SNORT).
According to 99Bitcoins, a popular YouTube channel with over 723K subscribers, SNORT could soar 10X on launch.
Snorter Token Presale Raises $156K In A Day – Best 10X Crypto To Buy Now?
As interest around crypto trading grows in Telegram communities, Snorter Token offers a purpose-built Solana trading bot designed to help users discover early-stage coins and execute trades within seconds.
Unlike browser-based tools, Snorter runs directly inside Telegram, allowing users to perform sub-second swaps, automate sniping, and track portfolios in real time.
It stands out from bots like BONKbot or Maestro by offering lower fees (just 0.85% for SNORT holders), while protecting users with advanced honeypot and rugpull detection.
The presale is now live and the token selling at $0.0935. Over $156K has already been raised and the ICO is quickly racing towards $200K.
In addition to its trading features, staking rewards currently sit at 1,825%, which decreases as more investors join.
Tokens can be bought with SOL, ETH, BNB, or bank card, and staked directly on the official site.
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