Elon Musk’s Tesla Down 15%, Can Dogecoin Price Attempt Recovery Here?
Elon Musk’s Tesla stock has been on a sharp decline, losing nearly 15% of its value over the past few days. This drop follows a loss of post-election gains, with many attributing the decline to CEO Elon Musk’s political involvement. Alongside Tesla’s struggles, Dogecoin (DOGE) price has also faced significant losses, hovering around $0.15 amidst broader cryptocurrency market corrections. The question remains: can Dogecoin recover from this downturn?
Tesla Drops 15%, Is Dogecoin Price Set for a Comeback?
Tesla’s stock has experienced a significant drop of over 15%, resulting in a loss of $125 billion in market value. This decline follows a decrease in the company’s vehicle sales and profits, as well as a broader market selloff driven by fears of tariffs and recession.
The $1.5 trillion market capitalization peak that Tesla hit in December 2021 has suffered a 45% decline, leading to substantial stock price losses since Elon Musk took part in backing Donald Trump’s election campaign.
The stock value has decreased because shareholders worry about Musk’s political actions, including backing Trump while firing large numbers of U.S. government staff.
These actions have raised doubts about whether Musk is distracted from managing Tesla’s core business. Despite the downturn, Tesla’s market cap remains up by approximately $65 billion since the presidential election, indicating the ongoing confidence in the company’s future prospects.
Will Dogecoin Price Break Key Support at $0.15?
The latest DOGE price has been fluctuating recently, with crypto market experiencing the fluctuation. As of March 11, 2025, the DOGE price has experienced a decrease of 8%, currently at $0.1584. The price has been hovering between a crucial support level of $0.15 and resistance near $0.20.
The Moving Average Convergence Divergence indicator on the 4-hour chart shows a bearish trend. The MACD line has dipped below the signal line, suggesting a potential decline in momentum.
The Relative Strength Index is currently sitting at 31, indicating that DOGE is nearing oversold conditions. If the downward pressure continues, the price may test the $0.10 support level in the near term.
Conversely, if Dogecoin price prediction manages to break through the resistance level at $0.16, a potential rally toward the $0.20 level could occur.
Dogecoin Price Chart: TradingView
The latest report indicates that whales purchased over 1.40 billion Dogecoin in the last 24 hours. This surge in large-scale purchases by significant holders could likely lead to increased price volatility.
As whale transactions influence market trends, the added buying pressure might push Dogecoin’s value higher in the short term. Consequently, this activity could signal bullish sentiment for the token.
To sum up, Tesla’s 15% loss raises concerns about its future, while Dogecoin’s price may see fluctuations amid market corrections. Whether DOGE can recover or break through key support levels remains to be seen.
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