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Dogecoin $DOGE price has crashed in the past few months, and this trend may continue as the rare death cross pattern nears. Dogecoin (DOGE) token retreated to a low of $0.019 on Sunday, its lowest level since November 7 last year. It has plunged by over 60% from its highest level in November. Dogecoin’s crash has mirrored the performance of other meme coins, most of which have plunged in the past few months. Popular tokens like Shiba Inu, Pepe, and Dogwifhat are down by over 50%. It has also dropped as Elon Musk, a key backer for the memecoin, has come under intense pressure this year. Bloomberg data shows that Musk’s net worth has dropped by $103 billion this year, bringing his worth to $330 billion. The latest reporting is that Donald Trump is starting to push back on some of Elon Musk’s actions. According to the New York Times, Musk crashed with cabinet officials like Marco Rubio in a tense cabinet meeting. These discussions pushed Trump to rein on Musk, who leads the Department of Government Efficiency or DOGE. Therefore, the tumbling Tesla stock price and the new tensions between Musk and Trump mean that he may leave the department. Kalshi data shows that there is now a 54% chance that he will exit before July 2026. Established in 2013, Dogecoin became a popular meme coin in 2021 mostly because of Musk’s Tweets. As such, his DOGE exit would have some psychological effects leading to more downside. Dogecoin ( $DOGE ) price analysis The daily chart shows that the DOGE price continued its strong downtrend as investors remained in the sidelines. DOGE is about to form a death cross pattern, which happens when the 200-day and 50-day Exponential Moving Averages cross each other. The last time the coin formed a death cross was in July 2024, and the coin dropped by 40% after that. Dogecoin price has moved below the 61.8% Fibonacci Retracement at $0.2360, a sign that bears are in control. Also, the MACD and the Relative Strength Index have continued falling as sellers target the next key point at $0.1680, the 78.6% retracement point. A move below that level will point to a further decline to $0.80, 60% below the current level.

After taking a massive tumble in February, crypto markets rallied on Sunday following Donald Trump’s announcement that he would create a national crypto strategic reserve. Trump wrote on Truth Social that a working group would “move forward” on facilitating the strategic federal purchases of Bitcoin, Ethereum, and three other smaller cryptocurrencies. The announcement comes ahead of the White House’s first cryptocurrency summit on March 7, and builds on Trump’s fixation on crypto over the past year, which has included a crypto venture, a “crypto czar” position in the White House, and a TRUMP meme coin which has fallen in price from $70 to $13 within a month and a half. Advertisement It is unclear whether taxpayers will fund the reserve, how big it will be, or whether it will be used to pay off the U.S. federal debt, as some have suggested. Trump’s strategic reserve announcement drew criticism from economists and even some of crypto’s biggest boosters. The U.S. has a long history of creating strategic reserves in key assets such as oil, in order to ensure access and stabilize prices in times of crisis. But this crypto reserve seems fundamentally different in nature, because it hinges not upon the asset’s importance to the nation, but the idea that its prices will increase going forward, says Stephen Cecchetti, an economist and professor at Brandeis International Business School who has written skeptically about crypto for several years. Cecchetti called the idea of a strategic crypto reserve “absurd.” “It's foolish to purchase risky assets with leverage in the hope of making it easier to repay your debt,” he says. What is a strategic reserve? In the past, the U.S. has stockpiled scarce assets to protect against supply disruptions. For instance, Congress created a Strategic Petroleum Reserve in 1975 after the Arab oil embargo crisis caused gas shortages across the country and decimated the American economy. Creating a store of petroleum, its backers argued, would stabilize prices. The U.S. has also created strategic reserves of other goods, like medical equipment and helium. “A strategic reserve is for something that is essential, either for national defense or national economic security,” Cecchetti says. “What exactly is essential about Bitcoin in our lives that makes it so the U.S. would want a reserve?” ?

Dog-themed Shiba Inu (SHIB) has registered a significant 3% increase in price within the last 24 hours. This has seen the meme coin trade at $0.00001339 at the time of this writing, according to data from CoinMarketCap. Death cross's bearish impact on SHIB Despite this uptick, SHIB investors remain concerned about the token's future trajectory. SHIB has been in a death cross since last month, and market participants have expressed concern over its performance in the broader cryptocurrency market. For context, a death cross occurs when the 50-day Moving Average falls below the 200-day Moving Average. This metric indicates a fall in the price of an asset. SHIB has suffered this decline, and the current 3% surge has not done much to clear it off this bearish zone. Generally, a death cross signals bearish pressure. However, SHIB’s ability to register an uptick amid wild volatility raises market participants' anticipation of a possible rally out of the death cross zone. Analysts say ecosystem support remains crucial for this to happen. For instance, trading volume has dropped by 26.07% to $206.24 million within the last 24 hours, signaling investors' reduced market activity. Market experts say that for SHIB to witness a rally that could clear it off the zone, the trading volume must increase while maintaining a higher burn rate to trigger sentiment and sustain price rallies. Ecosystem trend to watch Meanwhile, according to data from Shibburn, the Shiba Inu ecosystem recently saw the incineration of 20 million SHIB tokens within minutes as part of a deflationary move to keep prices stable. An anonymous whale single-handedly sent over 12 million SHIB to dead wallets. While the move is commendable, analysts have called for consistency to support SHIB’s quest for higher price levels. Stakeholders backing the token remain optimistic thqt it might chart a rally drawing on the current outlook. #SHIB #Shibainu

It is following a historical ETF cycle pattern and peaking at $94,468 before going in for a correction phase. The prolonged effect of selling continued in the market from January 20, 2025, with Bitcoin currently priced at $86,170. The percentage deducted weekly is a significant 8.64. The timing is precisely a year and a week after the launch of the Bitcoin ETF in 2024, almost the same as a pattern with its earlier counterpart, the Nasdaq QQQ ETF, launched in 1999. Analysts have noted that QQQ also topped 54 weeks post-launch before entering a prolonged correction, suggesting that Bitcoin may be following the same path.  ➡️Designated as “Inauguration Day” on January 20, 2025, possibly culminated in a major paradigm shift for the market participants. Some would probably still think Bitcoin had an upward path from that day on. However, from that point in time, Bitcoin has been on a downward journey. Traders have grown paranoid with the historical comparisons to QQQ ETF because both instruments achieved all-time highs at the 54-week mark and then saw very strong resistance. The post-ETF eruption that lifted the cryptocurrency from just below $30,000 to nearly $100,000 may have run out of steam, and liquidity has started to move away from the crypto space. ➡️Retail Liquidity Drained as Market Faces Correction  Market correction is another factor that has affected Bitcoin’s price downwards, apart from the ETF cycle. For example, the sight of all these new celebrity and political-sponsored meme coins has done very well at attracting retail money from Bitcoin. Capital rotation was created by the sudden surge in all new tokens, whose induction subsequently weakened Bitcoin’s ability to sustain its highs. Thus, as retail investors busily devote their resources to speculative projects, dominance over Bitcoin steadily began loosening, feasting further into the current downtrend. ➡️So long as Bitcoin continues to follow QQQ, there might be a lot of room for the market to end up consolidating for some years. For peak performance, QQQ played a range game for years before returning to the uptrend. The same might happen to Bitcoin, where the long-term resistance band will be from $80K to $100K. This correction could continue much longer depending on the general liquidity trend or institutional positioning. Traders’ optimism regarding the bounce notwithstanding, historical precedent would suggest that Bitcoin might need to sit through a lengthy accumulation period before reclaiming its previous highs.

#TrumpSignsBitcoinReserve# ‎ On March 7, 2025, U.S. President Donald Trump signed an executive order formalizing the establishment of a Strategic Bitcoin Reserve and Digital Asset Stockpile. This step is considered part of the United States' goal to become a leader in the cryptocurrency industry. ‎ White House Artificial Intelligence and Crypto Czar David Sacks, in a statement on the social media platform X, stated that this reserve will be funded by Bitcoins held by the federal government and confiscated. This will not impose an additional cost on taxpayers. The U.S. government is estimated to own around 200,000 Bitcoins, but to date, there has been no thorough audit. ‎ The decree instructs the Treasury and Commerce Departments to develop budget-neutral strategies that will enable the government to acquire additional Bitcoins but will not create additional costs for taxpayers. It is also planned to create a digital asset stock consisting of digital assets other than Bitcoin. Only assets obtained through seizures will be used for this stock, and no additional asset purchases will be made. ‎ The Trump administration's open support for the crypto industry has also raised allegations of conflicts of interest. The Trump family is known to have launched cryptocurrency meme coin projects, and the president has a stake in a crypto platform called World Liberty Financial. Trump's aides argue that the president's business connections have been reviewed by outside ethics advisers and that he has ceded control of his affairs. ‎ These developments are seen as part of the United States' efforts to strengthen its position in the cryptocurrency market. However, debate continues over the government's role in this area and its possible impacts. ‎ ‎