Factors such as whale accumulation, bullish technical indicators, and market sentiment have contributed to this optimistic outlook.

These rumors have instigated market uncertainty, with some analysts fearing that his departure would cool the price expectations of Dogecoin.

Dogecoin (CRYPTO: DOGE) has been showing signs of recovery recently, with whale accumulation, bullish technical indicators, and improving market sentiment setting a positive outlook for the meme coin. However, the role of prominent figures like Elon Musk and Donald Trump remains a critical element in Dogecoin’s future price movements.

Key Resistance Levels To Watch

For Dogecoin to fully unlock its potential, it must first overcome several key resistance zones. The $0.21 and $0.18 levels are points of interest. From the perspective of analyst Ali Martinez, breaking through these price levels would be setting the stage for further price increases. “Once DOGE surpasses the $0.21 level, there will not be much to prevent it from going past the $0.36 level and beyond,” Martinez said.

DOGE is at a pivotal level—holding $0.16 could spark a rally to $0.57, while failure may lead to $0.06. Source: Ali Martinez via X

However, experts warn that in the absence of breaking these levels of resistance, Dogecoin can still remain in consolidation or stagnation.

DOGE should keep moving upward, especially with technical indicators like the Relative Strength Index (RSI) showing upward momentum.

The Impact Of Donald Trump And Elon Musk

Elon Musk, or the “DogeFather,” has played a significant role in Dogecoin’s price history. In spite of recent volatility, Musk’s role in the world of cryptocurrency remains one of the most significant factors in Dogecoin’s potential revival. Musk’s role as head of the United States Department of Government Efficiency (DOGE) is under review because of rumors that he would step down.

These rumors have instigated market uncertainty, with some analysts fearing that his departure would cool the price expectations of Dogecoin. Other analysts have argued that whatever short-term loss on account of Musk’s departure, it would prove to be transient, given increased whale activity and bullish technicals.

US President Donald Trump and Elon Musk at the White House. Source: Amit via X

Meanwhile, new economic policies from President Trump, including further tariffs, have added another layer of uncertainty to the market. Although Trump’s effect on Dogecoin has been indirect, the current political climate could have some role to play in driving market sentiment, and by that same extension, the direction of Dogecoin’s price. “Musk and Trump’s influence on Dogecoin cannot be ignored. Any shift in their positions could lead to significant volatility,” said cryptocurrency analyst Olivia Stephanie.

Market Sentiment And Predictions

Market sentiment for Dogecoin is mixed, with others anticipating an immediate price increase and some expecting short-term volatility. Price of the crypto is largely dependent on investor sentiment, and derivative markets are also showing increasingly bullish moods.

Other analysts, meanwhile, are urging caution, as the price of Dogecoin can also decrease if crucial support levels like $0.15 are breached.

DOGE price needs to survive the $0.15-$0.16 zone to hold above the long-term trendline support. Source: Wolffxtrader on TradingView

Analysts such as Balo and Kumar opine that if DOGE can sustain its support level of $0.16 and pierce through the resistance points, it could witness a substantial rally. “The coming weeks will be decisive for Dogecoin,” Kumar stated. “If it manages to stay above the $0.16 barrier and break through over the $0.18 and $0.21 resistance levels, we may see the price spike to $0.57.”

What Lies Ahead For DOGE?

While the future price movement of Dogecoin remains uncertain, several indicators suggest that the coin could be on the verge of a massive rally. The combination of whale action, technical momentum, and the influence of high-profile figures like Musk and Trump is a sign that Dogecoin is poised to break out. However, the coin must first breach key resistance points to achieve its full potential.

Dogecoin (DOGE) was trading within the $0.15-$0.17 range, down 2.92% in the last 24 hours at press time. Source: Brave New Coin