DOGE Resilience Near $0.185 After Musk’s Taxpayer Savings Proposal

DOGE price fuels to $0.185 after Elon Musk proposed Federal workflow cut, signaling renewed market optimism.
Dogecoin (DOGE) is back in the spotlight after Elon Musk proposed massive Federal workforce cuts aimed at saving taxpayers billions. In this remark, Musl also gave a nod to Dogecoin, which fuels a quick surge in DOGE price, climbing nearly 6% before setting around $0.185. This DOGE news made headlines and triggered excitement among investors and traders. Hence, traders are speculating about its bullish momentum. Since Elon Musk continues to influence both political and crypto conversations, Dogecoin price movements are closely tied to his actions. So, let’s monitor the DOGE price closely to find its current market strength. 

DOGE Dipped to $0.180 – April 26, 2025

On 26 April 2025, DOGE trading day established a notable price action. During the early trading session, DOGE began with an upward trajectory, demonstrating a robust bullish sentiment. At 01:55 UTC, DOGE encountered an RSI Overbought condition, indicating a possible trend reversal. As expected, at 02:00 UTC, a pin bar, followed by a full-body red candle, signaled a potential downtrend. Likely, DOGE price resisted at $0.191 and began to experience a sharp fall. A Death Cross on MACD at 02:30 UTC reasserted this downtrend. Substantially, at 04:40 UTC, DOGE found support at $0.183 and began to experience an uptrend. A Golden Cross on MACD at 05:20 UTC affirmed this uptrend. 

Chart 1 – Analyzed by Buvaneswari_L, published on TradingView, April 27, 2025

Substantially, at 07:20 UTC, a doji bar, followed by a full-body red candle, signaled a downtrend. As expected, DOGE resisted at $0.187 and experienced a sharp price decline. A Death Cross on MACD at 07:40 UTC affirmed this downtrend. At 09:25 UTC, DOGE continued its downtrend, broke the support at $0.183, breached a breakout, and dropped to $0.180. Conversely, at 09:10 UTC, DOGE encountered an RSI Oversold condition, indicating a potential trend reversal. Likely, at 13:45 UTC, DOGE found support at $0.180 and entered the phase of the trading range.

At 15:30 UTC, DOGE resisted at $0.182 and began to fall. A Death Cross on MACD at 15:55 UTC affirmed this downtime. Later, at 21:00 UTC, DOGE found support at $0.180, moved up, and closed at $0.181. 

DOGE Bounce Back From $0.176 Dip – April 27, 2025

As illustrated in Chart 1, the DOGE trading day on April 27, 2025, began with a brief rise, demonstrating a robust bullish sentiment. But at 00:25 UTC, DOGE price movement resisted at $0.183 and experienced a sharp fall. At 01:20 UTC, DOGE broke the support at $0.180, breached a breakout, and dropped to $0.176. A Death Cross on MACD at 00:40 UTC affirmed this downtrend. Subsequently, at 05:10 UTC, DOGE encountered an RSI Oversold condition, indicating a potential trend reversal. Likely, at 05:30 UTC, DOGE found support at $0.176 and experienced an uptrend. Considerably, at 09:30  UTC, DOGE resisted at $0.182, began to fall, and kept fluctuating within the key levels. 

Will DOGE Hit a New High?

Today, the DOGE price movement is projected to undergo dynamic price action, demonstrating a strong bullish signal. After Elon Musk proposed a federal workflow cut, Dogecoin price climbed by nearly 6%, signaling a bullish momentum. In a possible scenario, if DOGE attempts to continue its uptrend, it could break the key resistance and reach its previous high of $0.191. In case DOGE resists moving up, it could experience a sharp decline, suggesting a bearish momentum. To know its upcoming momentum, closely watch for the key levels and act accordingly.