TL;DR

• DOGE is down

• SHIB is down

• Altcoin Sell-Off on April 1 Sparks Market Turmoil

• Shiba Inu Faces 20% Drop, Burn Rate Rises 30%

• Elon Musk Denies U.S. Government Adoption of Dogecoin

• Husky Inu Announces HINU Token Launch Date

• DOGE Official at DOJ Faces Hacking Past Scrutiny

• Elon Musk Denies DOGE Resignation Rumors

Dogecoin Price

Crypto is down this week, with DOGE down 16.4% and SHIB down 14.8%:

Weekly Analysis

This weekly analysis is mainly on the top two MEME coins

Dogecoin (DOGE) has experienced a significant downturn over the past week, shedding more than 16% of its value as it grapples with persistent selling pressure. Technical indicators present a mixed outlook, hinting at a potential recovery while broader sentiment remains uncertain, particularly following Elon Musk’s statement distancing DOGE from U.S. government plans.

Technical Indicators Show Signs of Recovery

Despite the recent price decline, technical indicators suggest that Dogecoin could be nearing a shift in momentum. The Ichimoku Cloud setup indicates volatility, with the price bars trading below the cloud, confirming a downtrend.

However, a key signal emerges as the Conversion Line begins to curve upward toward the Base Line, suggesting an increase in buying pressure. A breakthrough above the cloud could solidify a bullish reversal, though market sentiment remains cautious.

The BBTrend indicator, which tracks market momentum, remains in negative territory at -11.78, improving slightly from -13.96. Readings below -10 indicate strong bearish momentum, but the gradual recovery suggests that selling pressure may be losing strength.

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