Elon Musk Chooses New Meme Coin: Sell DOGE?

While Dogecoin (DOGE) and Shiba Inu (SHIB) recorded only limited gains, FLOKI emerged as the clear leader among memecoins. The renewed attention comes at a time when the market remains vulnerable; Bitcoin was trading around $108,000 and Ethereum around $3,800, both down slightly.

Possible breakout or a bull trap?

According to market data, FLOKI is currently testing a key demand zone between $0.000072 and $0.00008. A daily close above $0.000075 maintains the likelihood of a continuation towards $0.00009, with as much as $0.00010 possible if momentum continues.

Open interest rose 162% to $37.5 million, while short positions were liquidated for around $275,000. On Binance, negative funding rates indicate overcrowded short positions, which could add fuel to a potential upward squeeze.

Still, analysts warn against overheating. The RSI shot above 70, a zone that often leads to a correction. Currently, the price and the RSI have fallen again due to macroeconomic news regarding new trade tensions between the US and China. Still, the market shows no signs of giving up, and traders are ready for a new memecoin to step into the spotlight.

Liquidity heatmaps show clusters of orders both above and below the current price, indicating high volatility. If FLOKI does not manage to stay above $0.00009, a correction to $0.000072 or even $0.00004 is in the offing.

What does this mean for the Dogecoin price?

FLOKI’s revival raises questions about Musk’s memecoin preference. Although he previously referred to Dogecoin as ‘the people’s currency’, his attention now seems to have temporarily shifted. Unlike FLOKI, the Dogecoin price remained almost stable, with only a limited increase of 1-2% after the tweet.

The Dogecoin price of the past 7 days. Source: CoinMarketCap

However, there is no definitive switch yet. FLOKI’s rally appears to be an example of Musk’s influence on market sentiment rather than a structural shift in his holdings or strategic backing. DOGE’s underperformance can partly be explained by the broader market downturn and declining retail activity.

Outlook for FLOKI and memecoins

Currently, FLOKI is trading around $0.000072, down about 10% from its peak, consistent with the general market correction. Major resistance is at $0.00008 and $0.00009, while support is found at $0.00007. If trading volumes remain stable and negative funding persists, FLOKI could rise again towards $0.0001. But with weakening liquidity and increasing volatility, a downturn is lurking.

The FLOKI price of the past 7 days. Source: CoinGecko

For traders of Dogecoin and other meme coins, the situation remains ambiguous. Musk’s influence remains a short-term trigger, but structural value development depends on market calm and technological developments. Whether Musk’s preference for FLOKI is temporary or the start of a new phase in his crypto portfolio remains unclear for the time being. Yet the memecoin market is once again experiencing an explosive phase, with Elon Musk remaining a huge trigger.

So we see a clear shift towards memecoins, and it is also wise to position strategically. By investing early in crypto presales you can take full advantage of unique benefits and exclusive rewards. FLOKI has a lot of potential, but the real contenders are Maxi Doge ($MAXI), Bitcoin Hyper ($HYPER) and PEPENODE ($PEPENODE).

Maxi Doge ($MAXI)

Maxi Doge ($MAXI) positions itself as the final form of the Doge family. It is a memecoin that not only evokes nostalgia, but combines the adrenaline of crypto trading with a gymbro mentality. The project is distinguished by a large supply (≈150.24 billion tokens) and an emphasis on aggressive branding with a pinch of hypertrophy.

$MAXI is not a brand, it’s a personality disorder. It is the ultimate underdog for traders who missed the pump from DOGE and SHIB. A coin that demands the spotlight with satirical, testosterone-driven style. Think of dumbbells, dollar signs and green candles as sacred symbols. We live here on MAXITREN 9000, we don’t sleep, and we are addicted to Red Bull.

The project draws its power from memes, community and culture. It’s a complete platform for caffeine obsessed people without insomnia. Maxi Doge is a distinct identity. It’s loud, it’s pumped up, it’s ready to turn heads. The cycle is back.

Join the Maxi Doge presale now ($MAXI)

Bitcoin Hyper ($HYPER)

Bitcoin Hyper ($HYPER) is the first Bitcoin Layer 2 with smart contracts, built to bring programmability to Bitcoin. The project uses a hybrid architecture where transactions are recorded at Bitcoin Layer 1, while the Solana Virtual Machine (SVM) enables lightning-fast execution at Layer 2. As a result, Bitcoin Hyper combines the security of Bitcoin with the speed of Solana.

The Canonical Bridge enables non-custodial BTC transfers, wrapping and redemption, allowing users to securely move their native BTC between Layers. With a focus on community and transparency, there are no VC allocations or insider deals, all tokens are sold publicly in the presale. Additionally, there are post-launch staking and DAO governance options.

By running on an energy-efficient Proof of Stake model, Bitcoin Hyper reduces consumption by 99% compared to traditional PoW. BTC Hyper is the next evolution of Bitcoin, true to its original values, but focused on the future. It is a complete foundation for dApps, DeFi and gaming within the Bitcoin ecosystem.

Join the Bitcoin Hyper Presale Now ($HYPER)

PEPENODE ($PEPENODE)

PEPENODE ($PEPENODE) ​​is the very first Mine-to-Earn memecoin, where gamified mining and meme culture come together. Instead of a passive presale, the project focuses on interaction. Participants purchase virtual Miner Nodes, upgrade their digital facilities and earn rewards within a virtual mining simulator. This turns the presale into a gaming experience in which users are directly involved and can earn tokens.

The tokenomics revolve around deflationary mechanisms, approximately 70% of the tokens used for upgrades are permanently burned. In the long run, this creates scarcity, which in turn drives value. In addition, the built-in referral system rewards active community growth. The entire game will run on-chain on Ethereum after the TGE, powered by Proof of Stake.

Through the connection with Pepe himself, PEPENODE leverages one of the strongest communities in crypto. With a focus on fairness (without private sales or VC allocations), the project positions itself as a community-first movement. Mining, gamification and meme energy are combined here into a playful but innovative step within the world of memecoins.

Join the presale of PEPENODE ($PEPENODE) ​​now

Disclaimer: This article is a press release and Newsbit is not responsible for the content, accuracy or completeness of the information provided. This article does not constitute financial advice. Investing in cryptocurrencies or pre-sales involves significant risks, including the risk of losing your entire investment. Always do your own research before making any investment decisions.