{"id":624188,"date":"2025-02-05T14:20:54","date_gmt":"2025-02-05T14:20:54","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=624188"},"modified":"2025-02-05T14:20:54","modified_gmt":"2025-02-05T14:20:54","slug":"department-of-government-efficiency-price-prediction-amid-elon-musk-usaid-controversy-as-experts-predict-100x-gains-for-this-meme-coin-index","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/department-of-government-efficiency-price-prediction-amid-elon-musk-usaid-controversy-as-experts-predict-100x-gains-for-this-meme-coin-index","title":{"rendered":"Department Of Government Efficiency Price Prediction Amid Elon Musk USAID Controversy And As Experts Predict 100X Gains For This Meme Coin Index"},"content":{"rendered":"

The Department of Government Efficiency price plunged 63% in the last 2 weeks and 1% in the last 24 hours to trade at $0.04944 as of 02:47 a.m. EST on trading volume that plummeted 35% to $5.2 million.<\/span><\/p>\n

This drop in the DOGE price comes as Elon Musk called the US Agency for International Development (USAID) a criminal organization without providing any evidence and said it was “time for it to die.” <\/span><\/p>\n

Trump has entrusted Elon Musk, under the Department of Government Efficiency (DOGE), to reduce the federal government’s spending and oversee the project.<\/span><\/p>\n

Department Of Government Efficiency Price On A Bearish Trend<\/h2>\n

The <\/span>DOGE price<\/span> has been a strong bearish trend<\/a> since reaching its peak near $0.52 in November.<\/span><\/p>\n

After failing to hold above key Fibonacci Retracement levels, the price has steadily declined and is now hovering just above the 0.786 Fibonacci level at $0.11193, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

Additionally, the price of DOGE has fallen below both the 50-day and 200-day Simple Moving Averages (SMAs), which signals a prolonged bearish phase. There is no immediate sign of reversal as the Department of Government Efficiency price continues to form lower highs and lower lows, confirming the ongoing downward momentum.<\/span><\/p>\n

The Relative Strength Index (RSI) value is 37.23, and has been consistently declining. However, it hasn’t yet entered the extreme oversold zone (below 30), which would typically signal a strong reversal possibility. If the RSI dips below 30, there could be a short-term bounce, but until then, downward pressure remains dominant.<\/span><\/p>\n

If a rebound happens, the 0.618 level ($0.19895) & 0.5 level ($0.26007) will act as major resistance. The 0.236 Fibonacci level at $0.39681 represents the strongest resistance in case of a breakout attempt.<\/span><\/p>\n

\"Department
DOGE\/USDT Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

DOGE Price Prediction<\/h2>\n

Based on the current technical setup, the outlook for the price of the Department of Government Efficiency remains bearish unless a strong support level is established. <\/span><\/p>\n

If the price of DOGE breaks below $0.049, the next possible support is around $0.04 or even $0.03, where stronger buying interest may emerge.<\/span><\/p>\n

Conversely, if the Department of Government Efficiency price finds support and the RSI moves into oversold conditions, there might be a short-term bounce towards $0.10-$0.12 before encountering resistance at $0.198 (0.618 Fibonacci).<\/span><\/p>\n

As the DOGE price plunges, investors are shifting focus to a new meme coin called <\/span>Meme Index (MEMEX)<\/span><\/a>. According to 99Bitcoins, a prominent crypto channel on YouTube that boasts over 724K subscribers, MEMEX has the potential to be the next 100x crypto.<\/span><\/p>\n