Dogecoin (DOGE) Price Plunges 15% as Trump's Tariff Wrath Slams Crypto Market

This drop in the DOGE price comes as the entire crypto market slumps under the weight of Trump's tariff wrath. However, with DOGE holding above its resistance level, what's next?

The Dogecoin price dropped 15% in the past week and 2% in the past 24 hours to trade at $0.1669 by 1:34 a.m. EST on Friday, as trading volumes soared 55% to $1.8 billion.

This decline in the DOGE price comes as the entire crypto market slumps further into the red with Trump's tariff threats continuing to weigh on market sentiment,

However, with DOGE now holding above a key resistance level, what's next for the meme coin?

Dogecoin Price Aims For Breakout As Selling Pressure Eases

The DOGE price presents a falling wedge pattern, a bullish reversal structure, in which the selling pressure is decreasing, and the price ranges between converging trendlines.

During the wedge formation, the Dogecoin price experienced a fake breakout, where it briefly surpassed the resistance level before retracing and continuing the downward movement into the wedge, according to GeckoTerminal data.

This fake-out action led to a continuation of the price decline, eventually testing lower support levels and sparking a minor rebound.

However, as the DOGE price approaches the pattern's apex, the possibilities of a breakout or a continuation of the wedge formation become more prominent.

At the current level of $0.1669, the DOGE price shows signs of stabilization, bouncing off the lower trendline of the wedge, which could pave the way for a strong upward move if buyers step in.

A successful breakout above the wedge's upper boundary could signal a trend reversal and set the stage for a push toward higher resistance levels, such as the 50-day Simple Moving Average (SMA) at $0.1994.

The 200-day SMA is positioned at $0.2554, and DOGE remains below both these key moving averages, indicating that the broader trend is still bearish.

The Relative Strength Index (RSI) stands at 41.97, indicating that DOGE is still in the lower range but not yet oversold.

The MACD (Moving Average Convergence Divergence) indicator is showing signs of a potential bullish crossover. The blue MACD line is crossing above the orange signal line, which suggests an upcoming upward move.

What Next For SLAP?

Given the falling wedge formation and early signs of bullish momentum, DOGE could be on the verge of a breakout or a continuation of the wedge pattern.

If the Dogecoin price successfully breaks out, the first target would be $0.1994, aligning with the 50-day SMA. A sustained rally could then push DOGE toward the 200-day SMA at $0.2554, which would be a crucial resistance level.

If momentum remains strong, the price of DOGE could aim for $0.35 to $0.40, as indicated in the possible breakout projection on the chart.

However, failure to break out could lead to further consolidation within the wedge, with potential downside risk toward $0.13 before another breakout attempt.

Meanwhile, investors are rushing to buy Catslap (SLAP), a meme coin that 99Bitcoins, a prominent YouTube channel with over 725K subscribers, says could be the next MOG coin with 100X potential.

CatSlap Token is a rapidly growing cat-themed meme coin that brings gamified clicker fun. Players compete globally via its “Slapometer,” tallying clicks and fostering an addictive, competitive environment. Its Slapometer has gone into overdrive already with more than 3.3 billion slaps unleashed, and counting.

A $SLAP a day keeps the bears away pic.twitter.com/HtsKlck0lk

— Catslap (@CatSlapToken) March 28, 2025

Early investors have already seen impressive gains of 3,000%. The team’s aggressive burn and buyback tactics totaled $1.4 billion, demonstrating its commitment to driving price growth.

Token burns are in the interests of all token holders because reducing supply for a high-demand token leads to a skewed supply and demand ratio for an asset. This could result in a price rally.

The CatSlap price, according to CoinGecko, is down 2.7% at $0.0005015 with a market capitalization that stands at $1.9 million. This is an indication that the price of CatSlap could still soar.

You can purchase SLAP Token from its official website or on the top tier exchange MEXC.

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