The ongoing clash between President Donald Trump and SpaceX CEO Elon Musk has heavily impacted the cryptocurrency market. While the feud seems to have cooled somewhat, it remains a key topic of concern. Less confrontation was seen this week compared to the previous, which had a broader effect on the crypto space, reaching even its more speculative corners.

唐納德·特朗普總統與SpaceX首席執行官埃隆·馬斯克（Elon Musk）之間正在進行的衝突對加密貨幣市場產生了重大影響。雖然仇恨似乎有些冷卻，但它仍然是關注的關鍵主題。與以前的對抗相比，本週的對抗較少，這對加密貨幣空間產生了更大的影響，甚至達到了更具投機性的角落。

Meme coins, in particular, are feeling the pressure. Among them, Dogecoin (DOGE) dropped nearly 2% in the past 24 hours and more than 5% over the past seven days.

尤其是模因硬幣，正在感覺到壓力。其中，在過去的24小時中，Dogecoin（Doge）在過去七天中降低了近2％，超過5％。

Elon Musk’s Role in Dogecoin’s Rise and Recent Setback

埃隆·馬斯克（Elon Musk

Musk, who is often called the "Dogefather" for his support of the token, has regularly mentioned it in public. His tweets and comments have usually caused DOGE’s price to surge. However, this time, a surprise statement from Elon Musk is having the opposite effect, sending Dogecoin into a sharp decline.

馬斯克（Musk）經常被稱為“ Dogefather”，以支持令牌，他經常在公開場合提到。他的推文和評論通常導致Doge的價格上漲。但是，這次，埃隆·馬斯克（Elon Musk）的驚喜聲明正在產生相反的效果，使狗狗幣急劇下降。

One moment that sparked excitement was his appointment to lead the Department of Government Efficiency (DOGE), which many saw as a light-hearted nod to the cryptocurrency. That appointment drew attention and temporarily renewed interest in the token.

激發興奮的一刻是他被任命領導政府效率部（Doge），許多人認為這是對加密貨幣的輕鬆點頭。該任命引起了人們的注意，並暫時重新引起了令牌的興趣。

But Musk has now declared the closure of the department, stating that its objective had been achieved. This move, though seemingly symbolic, has deflated the kind of enthusiasm that often supports Dogecoin’s speculative value. Without that additional spark from Musk, momentum around the token appears to have slowed noticeably.

但是馬斯克現在宣布該部門關閉，並指出已實現了目標。這一舉動雖然看似象徵性，但它卻降低了通常支持狗狗幣的投機價值的熱情。沒有麝香​​的額外火花，令牌周圍的動力似乎明顯放緩。

Market Movement Reflects Sentiment Shift

市場運動反映了情感轉移

Dogecoin’s price had been going up for the past few weeks. But on Thursday, between 16:00 and 20:00 UTC, things changed quickly. In just a few hours, the price dropped from about $0.19 to around $0.16 — a fall of over 15%.

在過去的幾周中，Dogecoin的價格一直在上漲。但是在星期四，在16:00至20:00 UTC之間，情況很快發生了變化。在短短幾個小時內，價格從0.19美元下降到$ 0.16左右，下降了15％以上。

The sharp drop triggered heavy selling as investors rushed to get out. That swift decline marked a break below the rising trendline.

當投資者急於下車時，尖銳的下降引發了沉重的銷售。迅速的下降標誌著突破趨勢線的突破。

Over the weekend, the meme coin king attempted a recovery but encountered strong resistance near the 100-day Simple Moving Average (SMA). After approaching this level, the price was firmly rejected. The rejection wasn’t solely due to the 100-day SMA—it also coincides with a horizontal resistance area from earlier price action. Together, they form a strong supply zone where selling pressure has taken over.

上週末，模因硬幣王試圖恢復，但在100天簡單的移動平均線（SMA）附近遇到了強烈的阻力。在接近此水平之後，價格被牢固拒絕。拒絕不僅是由於100天的SMA造成的，還與早期價格動作的水平阻力區域相吻合。它們共同形成了一個強大的供應區，銷售壓力已接管。

If the downtrend continues, lower price levels may still be ahead. Meanwhile, the Relative Strength Index (RSI) is currently around 39.49, with its signal line near 42.17. This places it in the lower range of the chart, reinforcing the current bearish momentum. Although there’s been a minor bounce in the RSI—suggesting a brief pause in selling pressure—the overall trend remains negative. The RSI remains below both its signal line and the neutral 50 level, indicating that buyers have yet to regain control.

如果下降趨勢繼續下去，較低的價格水平可能仍在領先。同時，相對強度指數（RSI）目前約為39.49，其信號線接近42.17。這將其放置在圖表的較低範圍內，從而增強了當前的看跌動量。儘管RSI中有一個小的反彈 - 在銷售壓力方面短暫停頓，​​但總體趨勢仍然為負。 RSI仍低於其信號線和中性50級，表明買家尚未重新獲得控制。

Until the RSI crosses back above 50 and the price breaks through key resistance levels, the broader outlook for Dogecoin remains tilted to the downside.

直到RSI越過50以上，價格突破了關鍵的阻力水平，狗狗幣的更廣泛的前景仍然傾向於不利的一面。

Dogecoin at a Crossroads Amid Growing Bearish Signals

在越來越多的看跌信號中的十字路口

The price of DOGE is currently trading around $0.18 at the time of writing. For the bulls to take control again, the price must break above the 100-day SMA, the trendline, and eventually the 50-day SMA. If this doesn’t happen, Dogecoin’s price could continue its downtrend for some time.

Doge的價格目前在撰寫本文時交易約為0.18美元。要使公牛再次控制，價格必須超過100天的SMA，趨勢線，最終是50天的SMA。如果沒有發生，Dogecoin的價格可能會持續一段時間。

Beyond technical indicators, market sentiment also plays a crucial role in DOGE’s price direction. To shift momentum back in their favor, bulls will likely need a meaningful change in either the crypto space or the political environment. The ongoing Trump-Musk clash has only added to the uncertainty, dragging down overall market confidence. A resolution could ease tensions, while a broader lift in the cryptocurrency market might help reverse the current sentiment. Until then, any upward moves may be short-lived.

除了技術指標之外，市場情緒在Doge的價格方向上還起著至關重要的作用。為了轉移動力以對他們有利，公牛可能需要在加密貨幣空間或政治環境中做出有意義的變化。正在進行的特朗普·穆斯克（Trump-Musk）衝突只會增加不確定性，從而削弱了整體市場信心。決議可以緩解緊張局勢，而加密貨幣市場的更廣泛的提升可能有助於扭轉當前的情緒。在此之前，任何向上的移動都可能是短暫的。