"Crypto Crash: Dogecoin Plummets Below $0.30, Musk's Influence Wanes"

Crypto Market Selloff Drags Altcoins, Including Dogecoin, Lower

The crypto market is experiencing a significant selloff, with Bitcoin crashing below $100K and dragging altcoins down with it. Dogecoin (DOGE), a popular meme coin, has been hit hard, losing over 15% in the past seven days. The coin recently slipped below the critical $0.30 support level, reaching $0.29. While there's a chance this could be a fakeout before a quick rebound, current market trends suggest more downside for DOGE.

Dogecoin's price action has raised concerns among traders. Historically, DOGE has shown strong rebounds after breaking key support levels, but the current market environment is different. With Bitcoin struggling and the overall crypto market in a downtrend, DOGE could continue its descent.

Key questions remain: is this breach below $0.30 a temporary shakeout, or is it signaling a deeper decline? If DOGE fails to reclaim $0.30 soon, lower targets like $0.28 and $0.25 come into play, with $0.20 as a worst-case scenario in the medium term.

Elon Musk's Influence on Dogecoin Fading

For years, Dogecoin's price was heavily influenced by Elon Musk's tweets. Even indirect references, such as mentioning "DOGE" in unrelated contexts, used to send prices soaring. However, that no longer seems to be the case. Now, DOGE's price mainly moves in line with the broader crypto market or when Musk directly tweets about the coin itself. References to "DOGE" as the Department of Government Efficiency no longer have the same effect, suggesting that Dogecoin may be relying more on general market trends rather than Musk's influence alone.

Dogecoin Price Prediction: What's Next?

If the crypto downtrend continues, Dogecoin's next key support levels are at:

• $0.28 - A minor support level that could temporarily slow the decline.
• $0.25 - A psychological level that could attract buyers.
• $0.20 - A deeper correction zone in case of further market weakness.

On the flip side, if