Dogecoin Uncertainty: Musk’s Legal Woes Impact Market

The legal situation surrounding Elon Musk puts pressure on Dogecoin's market performance, leading to a decrease in value and uncertainty about its future. The cryptocurrency's trading volume is also declining, adding to the prevailing uncertainty. The next crucial support level is the 200-day EMA, which could stabilize the price if reached. However, if Dogecoin fails to hold this support, it may experience further price drops. The situation highlights the vulnerability of crypto assets to regulatory scrutiny.