Dogecoin price has fallen sharply in recent days, coinciding with escalating tensions between Elon Musk and Donald Trump. The two former allies have become foes, and their linked stocks, crypto, and funds wiped out $155 billion in a single day.

What Happened: Prominent crypto analyst Kevin, in an update in his exclusive Patreon group, noted that Dogecoin has now retraced to the 0.382 Fibonacci level after breaking below the critical 0.5 support, a move that aligns with oversold daily indicators.

This aligns with the technical analysis shared earlier, which highlighted the significance of the 0.5 Fibonacci level and its role in determining the near-term trends for DOGE.

While DOGE and other altcoins are showing early signs of attempting to reverse bearish momentum on the 4-hour and daily charts, Kevin warns that significant resistance levels remain overhead.

"I'm fully positioned from lower levels," he noted, adding that he sees no need to add exposure until there's clearer direction from Bitcoin, which remains stuck in a choppy, undecided range.

He urges caution going into Friday, as the current risk-reward setup doesn't justify aggressive moves.

"No point getting greedy or in a hurry. Plenty of time to play this out," the analyst concluded.

Dogecoin Price: At the time of writing, DOGE was trading at $0.4418, showing a 24-hour gain of 0.86%.

Why It Matters: The fallout from the Musk-Trump spat has brought a strong interest in both men's personal and professional lives. It has also sparked conversation about the political and economic implications of their actions and words.

The spat began with Musk's strong criticism of Trump's "big beautiful bill," which he called a “debt slavery bill.”

The billionaire entrepreneur went on to say that he prefers Trump over Biden, but he doesn't want to get involved in politics.

"I prefer Trump, but I don't think he's doing a good job economically. I think he's doing a good job on foreign policy, but not on economics. I think Biden is doing a terrible job on both," Musk said.

The comments come as the U.S. economy faces challenges such as high inflation and interest rates.

Trump responded to Musk's criticism by calling the billionaire a "troubled" and "unhinged" individual who is "constantly complaining."

The former president also said that he and Musk are "no longer friends" and that he "never liked" the billionaire in the first place.

"Elon is a troubled and unhinged individual, who is constantly complaining but never does anything about it," Trump said in a statement.

The spat has brought a strong interest in both men's personal and professional lives. It has also sparked conversation about the political and economic implications of their actions and words.

The billionaire entrepreneur has faced criticism for his handling of Twitter and his involvement in various companies, while the former president is running for re-election in 2024 and faces multiple legal battles.

The spat began with Musk's strong criticism of Trump's "big beautiful bill," which he called a “debt slavery bill.” The bill, which is a bipartisan infrastructure and climate change package, is expected to be a major focus of the 2024 presidential campaign.

Musk said that he prefers Trump over Biden, but he doesn't want to get involved in politics.

"I prefer Trump, but I don't think he's doing a good job economically. I think he's doing a good job on foreign policy, but not on economics. I think Biden is doing a terrible job on both," Musk said in an interview with the Good Morning Britain program.

The comments come as the U.S. economy faces challenges such as high inflation and interest rates.

Trump responded to Musk's criticism by calling the billionaire a "troubled" and "unhinged" individual who is "constantly complaining."

The former president also said that he and Musk are "no longer friends" and that he "never liked" the billionaire in the first place.

"Elon is a troubled and unhinged individual, who is constantly complaining but never does anything about it," Trump said in a statement to the Center for Presidential History.

"We are no longer friends, and I never liked him in the first place."

Trump's statement came after Musk responded to a post by the former president on Truth Social.

In his post, Trump criticized Biden's handling of the economy and said that he would do a better job if he were president.

"Biden is doing a terrible job on the economy. He's doubled the national debt and destroyed our energy independence. I would do a far better job if I were president," Trump wrote.

Musk then replied to Trump's post, saying that he agreed