DOGE price prediction: Musk and Trump are in a heated dispute, forming a huge double bottom pattern on the daily chart.

Today (2), DOGE is reported at 0.1586 USD, with the price remaining flat since June, which is related to the lack of interest from investors. It has fallen 38% from the peak in May. Nevertheless, Technical Analysis indicates that amid the ongoing dispute between Donald Trump and Elon Musk, the DOGE daily chart has formed a significant double bottom pattern.

As of the deadline, the market capitalization of DOGE reached 24 billion USD, with a trading volume of up to 815 million USD.

In the past few months, the price of DOGE has been under pressure, consistent with the performance of most cryptocurrencies. The positive side is that it has formed a double bottom pattern, which may trigger a strong rebound.

According to CoinGape, the daily chart shows that the price of DOGE is likely to rebound after forming a highly bullish chart pattern. It has formed a double bottom pattern at $0.1445.

The characteristics of this pattern are two different support levels and a neckline, which in this case is located at 0.2596 USD. The profit target for the double bottom pattern is first calculated by determining its height, which in this case is approximately 44%. Then, measure the same distance from the neckline.

In this case, measuring the same distance from the neckline gives a target price of 0.3753 USD, which is a 132% increase from the current level.

If DOGE falls below the double bottom level of 0.1445 USD, then the bullish DOGE price prediction will be invalidated. Falling below this level will indicate that the bears are in control, which will push down the DOGE price, potentially even falling to the psychological level of 0.10 USD.

(Source: Trading View)

The optimistic price outlook for DOGE ignores the ongoing accusations between Donald Trump and Elon Musk. This once-abandoned dispute flared up again this week after Musk criticized the "Beautiful Law Project."

Musk is worried about the termination of the electric vehicle subsidy policy, which provides buyers with up to $7,500 in subsidies. As Musk is the CEO of Tesla, the largest electric vehicle company in the United States, the termination of the subsidy policy will personally harm him.

Donald Trump criticized Musk, stating that he realized Musk's dissatisfaction with electric vehicle subsidies when he supported him. He also threatened to cut funding for Musk's other company, SpaceX, which has signed billion-dollar contracts with the government.

(Source: Truth Social)

Elon Musk also pledged to fund Republican Thomas Massie, which Trump expressed dissatisfaction about. Massie is at odds with the Republican stance and has failed to support the party's top priorities.

The accusations from Musk and Trump will not affect the price of DOGE, as their relationship broke down in May. Furthermore, Musk's statements, even his appointment as the head of the Government Efficiency Department (DOGE), have not impacted the price of DOGE.