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Dogecoin Price Prediction: Why DOGE traders moved $200M within 24 hours of Trump’s car tariffs announcement

Source Fxstreet

Dogecoin price tumbles below $0.20 on Thursday, down 2.4% from its 24-hour peak.
Trump announced a 25% tax on auto imports, triggering a negative impact on Elon Musk-linked assets, including Tesla and DOGE.
Traders closed over $200 million in DOGE futures contracts, driving open interest below $2 billion.

DOGE tumbles 4% as Trump’s auto tariffs tank assets linked to Elon Musk

Dogecoin (DOGE) has experienced sharp price swings over the past two trading days, driven by contrasting statements from United States (US) President Donald Trump. Market reactions to Trump’s comments have moved DOGE prices in opposite directions, contributing to heightened volatility.

Dogecoin price action, March 27 | Source: Coingecko

At press time, DOGE is trading below the $0.19 level, posting a 2.4% decline, according to CoinGecko data.

Why is Dogecoin price down today?

On Monday, Trump reaffirmed his support for the official TRUMP meme token, sparking a rally across the altcoin market. Memecoins like DOGE, PEPE, and SHIB all surged by over 5%, pushing the total market capitalization of the memecoin sector above $62 billion by Tuesday.

Tesla (TSLA) stock price performance after Trump confirmed auto tarrifs on Wednesday | Source: NASDAQ

However, the momentum reversed on Wednesday after Trump announced a 25% tariff on car imports starting April 2.

According to BBC reports, Elon Musk confirmed that the policy could significantly impact Tesla’s bottom line.

This triggered major sell-offs in assets linked to Musk, including Tesla stock, which dropped 5% within 24 hours of the announcement, a 6% rebound when markets opened on Thursday
Given Musk’s well-documented ties to the Dogecoin community, DOGE’s rally quickly lost steam, resulting in a sharp 2.4% decline by Thursday.

Trump tariffs introduce fresh volatility risks, Dogecoin open interest drops under $2 billion

Dogecoin’s 2.4% price decline on Thursday reflects bearish sentiment surrounding assets linked to Elon Musk, as markets digest the economic impact of Trump’s newly proposed tariffs.

A deeper dive into Dogecoin’s derivatives data reveals that traders are actively pulling capital from the market, signaling increased caution amid rising volatility risks.

Dogecoin derivatives markets analysis, March 27 | Source: Coinglass

According to the latest Coinglass data, Dogecoin’s open interest has plunged by 9.47% to $1.99 billion, even as its price dipped only 4%.

This disparity suggests that traders are closing out leveraged positions at a faster rate than the price decline, indicating a lack of confidence in DOGE’s near-term recovery.

When open interest drops significantly faster than price, it typically signals weakening market participation and reduced speculative interest, increasing the likelihood of continued downside.

Additional bearish signals reinforce this outlook. The overall volume has declined by 13.82% to $4.59 billion, showing reduced trading activity and liquidity.

Meanwhile, the 24-hour long/short ratio stands at 0.9673, meaning short sellers are gaining ground, further pressuring prices.

The liquidation data also points to weak bullish momentum—over the last 12 hours, long traders have faced $1.3 million in liquidations, while shorts have only lost $739,620, indicating that long positions are being unwound at a higher rate.

With falling open interest, declining volume, and mounting long liquidations, Dogecoin remains vulnerable to further downside unless market conditions stabilize or fresh bullish catalysts emerge.

DOGE price forecast: $0.15 support at risk as bears offload futures positions

Dogecoin price forecast remains at a pivotal juncture as technical indicators flash mixed signals. At press time, DOGE has tumbled below the psychological support level of $0.20 as sellers regained control following a recent rally.

In terms of the next directional movement, the Donchian Channel suggests that DOGE is struggling to maintain bullish momentum, with the upper band at $0.20585 acting as a key resistance level.

Dogecoin price forecast | DOGEUSD | TradingView

A bearish scenario could unfold if DOGE loses support at $0.17433, triggering a sharp decline toward $0.15.

The MACD histogram, while still in positive territory, shows signs of slowing momentum as the signal line approaches a bearish crossover.

If selling pressure intensifies, DOGE could see further downside fueled by futures traders unwinding long positions.

Conversely, a close above $0.20 could invalidate the bearish outlook, opening the door for a retest of $0.20585 and potentially extending toward $0.22.

However, the weakening trading volume accompanying the red candle on Thursday confirms the growing risk of further downside.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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Bitcoin Slides 5% as Sellers Lean In — Can BTC Reclaim $88,000?Bitcoin has dropped back below $88,000 after rolling over from $90,500, with price still trading under the 100-hour Simple Moving Average. The sell-off found a floor at $85,151, and BTC is now consolidating near that base, but rebounds are facing pressure from a bearish trend line around $89,000. Bulls need to retake $88,000–$89,000 to ease downside risk; failure to do so keeps $85,500–$85,000 and then $83,500 in play, with $80,000 as the deeper “line in the sand.” Bitcoin (BTC) is back in damage-control mode after a sharp pullback wiped out recent gains. The price failed to reclaim the $90,000–$90,500 band, rolled over, and slid through $88,500 before briefly dipping under $87,000. Buyers did show up around $85,000, but the rebound so far looks more like stabilization than a clear trend reversal. Bitcoin dips hard, finds a bid near $85,000（h3） BTC’s latest move lower began when it couldn’t build follow-through above $90,000 and $90,500. Once that upside stalled, sellers took control and pushed price down through $88,500. The slide accelerated enough to spike below $87,000, but the market didn’t free-fall. Bulls defended the $85,000 zone, printing a low at $85,151. Since then, Bitcoin has been consolidating below the 23.6% Fibonacci retracement of the drop from the $93,560 swing high to the $85,151 low — a clue that the bounce is still shallow and that sellers haven’t fully backed off yet. Structurally, BTC is still on the back foot: It’s trading below $88,000, and It remains below the 100-hour Simple Moving Average, keeping short-term trend pressure pointed downward. Resistance is layered, and $89,000 is the problem area（h3） If bulls try to turn this into a recovery, they’ll have to climb through multiple ceilings in quick succession. First, BTC faces resistance around $87,150, followed by a more meaningful barrier near $87,500. From there, the market’s attention snaps back to $88,000 — the level BTC just lost and now needs to reclaim. A close back above $88,000 would improve the tone, but it doesn’t solve the bigger issue: there’s a bearish trend line on the hourly BTC/USD chart (Kraken feed) with resistance near $89,000, which also lines up with the next technical hurdle. If BTC can push through $89,000 and hold, the rebound could extend toward $90,000, with follow-through targets at $91,000 and $91,500. But until price clears that $88,000–$89,000 zone, rallies are at risk of being sold rather than chased. If BTC fails to reclaim resistance, the downside path is clear（h3） The near-term bear case is simple: if Bitcoin can’t climb back above the $87,000 area and keep traction, sellers may attempt another leg lower. Support levels line up like this: Immediate support: $85,500 First major support: $85,000 Next support: $83,500 Then $82,500 in the near term Below that, the major “don’t break this” level is still $80,000. If BTC slips under $80,000, the risk of acceleration to the downside increases significantly — not because it’s magic, but because it’s the kind of psychological and structural level that tends to trigger forced de-risking. Indicators: momentum still leans bearish（h3） The intraday indicators aren’t offering much comfort yet: Hourly MACD is losing pace in the bearish zone. Hourly RSI remains below 50, suggesting sellers still have the upper hand on short timeframes. So while the $85,000 defense held for now, the market hasn’t flipped bullish — it’s just stopped bleeding.

Author Mitrade

4 hours ago

Bitcoin has dropped back below $88,000 after rolling over from $90,500, with price still trading under the 100-hour Simple Moving Average. The sell-off found a floor at $85,151, and BTC is now consolidating near that base, but rebounds are facing pressure from a bearish trend line around $89,000. Bulls need to retake $88,000–$89,000 to ease downside risk; failure to do so keeps $85,500–$85,000 and then $83,500 in play, with $80,000 as the deeper “line in the sand.” Bitcoin (BTC) is back in damage-control mode after a sharp pullback wiped out recent gains. The price failed to reclaim the $90,000–$90,500 band, rolled over, and slid through $88,500 before briefly dipping under $87,000. Buyers did show up around $85,000, but the rebound so far looks more like stabilization than a clear trend reversal. Bitcoin dips hard, finds a bid near $85,000（h3） BTC’s latest move lower began when it couldn’t build follow-through above $90,000 and $90,500. Once that upside stalled, sellers took control and pushed price down through $88,500. The slide accelerated enough to spike below $87,000, but the market didn’t free-fall. Bulls defended the $85,000 zone, printing a low at $85,151. Since then, Bitcoin has been consolidating below the 23.6% Fibonacci retracement of the drop from the $93,560 swing high to the $85,151 low — a clue that the bounce is still shallow and that sellers haven’t fully backed off yet. Structurally, BTC is still on the back foot: It’s trading below $88,000, and It remains below the 100-hour Simple Moving Average, keeping short-term trend pressure pointed downward. Resistance is layered, and $89,000 is the problem area（h3） If bulls try to turn this into a recovery, they’ll have to climb through multiple ceilings in quick succession. First, BTC faces resistance around $87,150, followed by a more meaningful barrier near $87,500. From there, the market’s attention snaps back to $88,000 — the level BTC just lost and now needs to reclaim. A close back above $88,000 would improve the tone, but it doesn’t solve the bigger issue: there’s a bearish trend line on the hourly BTC/USD chart (Kraken feed) with resistance near $89,000, which also lines up with the next technical hurdle. If BTC can push through $89,000 and hold, the rebound could extend toward $90,000, with follow-through targets at $91,000 and $91,500. But until price clears that $88,000–$89,000 zone, rallies are at risk of being sold rather than chased. If BTC fails to reclaim resistance, the downside path is clear（h3） The near-term bear case is simple: if Bitcoin can’t climb back above the $87,000 area and keep traction, sellers may attempt another leg lower. Support levels line up like this: Immediate support: $85,500 First major support: $85,000 Next support: $83,500 Then $82,500 in the near term Below that, the major “don’t break this” level is still $80,000. If BTC slips under $80,000, the risk of acceleration to the downside increases significantly — not because it’s magic, but because it’s the kind of psychological and structural level that tends to trigger forced de-risking. Indicators: momentum still leans bearish（h3） The intraday indicators aren’t offering much comfort yet: Hourly MACD is losing pace in the bearish zone. Hourly RSI remains below 50, suggesting sellers still have the upper hand on short timeframes. So while the $85,000 defense held for now, the market hasn’t flipped bullish — it’s just stopped bleeding.

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Beginners

Dogecoin Price Prediction: Why DOGE traders moved $200M within 24 hours of Trump’s car tariffs announcement

DOGE tumbles 4% as Trump’s auto tariffs tank assets linked to Elon Musk

Why is Dogecoin price down today?

Trump tariffs introduce fresh volatility risks, Dogecoin open interest drops under $2 billion

DOGE price forecast: $0.15 support at risk as bears offload futures positions

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