Department Of Government Efficiency Price Plummets 29% As Elon Musk’s DOGE Gains Access To Treasury Payments System, And This ICO Goes Parabolic

The Department of Government Efficiency price plummeted 29% in the last 24 hours to trade at $0.0517 as of 9:16 p.m. EST on trading volume that plunged 22% to $4.8 million.

The DOGE price slump came as the New York Times reported that Treasury Secretary Scott Bessent gave Elon Musk’s Department of Government Efficiency (DOGE) access to the federal payment system on Friday.

The development followed a dispute over access to the payment system with Treasury’s David Lebryk, who the newspaper reported had been put on leave and suddenly retired from the department.

Department Of Government Efficiency Price On A Correction

The DOGE price has been in a prolonged downtrend, with a series of lower highs and lower lows. The Department of Government Efficiency price recently attempted a recovery from the lows of $0.0423, forming a rounded bottom pattern, which often indicates a potential reversal.

However, the price of DOGE faced strong rejection at $0.0758, invalidating the rounding bottom, which suggests that sellers are still in control.

The downtrend has pushed the Department of Government Efficiency price to trade below both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the sustained correction on the 4-hour timeframe.

Meanwhile, the Relative Strength Index (RSI) is currently at 51.55, indicating neutral momentum. Previously, the RSI moved above 40.39, showing some buying strength, but the rejection at resistance suggests weakness.

DOGE Price Remains In A Bearish Trend

According to the Department of Government Efficiency [rice analysis, DOGE remains in a bearish trend despite short-term recovery attempts. If the price fails to hold above $0.0483, it could retest the recent low of $0.0423.

A breakdown below this level could open doors for further downside toward $0.0350.

If the DOGE price finds support around $0.0483 and breaks above $0.0599, it could trigger another rally toward $0.0700. However, sustained bullish momentum would require breaking the 200-day SMA at $0.1417.

As investors sell off DOGE, they are snapping up a new alternative called Solaxy (SOLX) , which 99Bitcoins, a popular crypto channel on YouTube with over 724K subscribers, says might soar 100x after launch.

Solaxy Presale Races Toward $18 Million

The Solaxy presale continues to gain momentum as it surges past $17.3 million in early funding.

Solana’s rapid growth has caused slowdowns, a situation worsened by surging trading following the launch on the blockchain of TRUMP and MELANIA meme coins last month.

Solaxy aims to solve Solana’s congestion problems with features like transaction bundling and off-chain processing, improving Solana’s efficiency without slowing it down.

Although Solaxy is built to work with Solana, the project will first launch on Ethereum. The team is developing a bridge between the two blockchain networks to connect them.

By buying and holding SOLX, users can also earn passively through the platform’s staking mechanism, which offers a sky-high annual yield of 233%.

Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens at the current price of $0.001622 each using BNB, ETH, USDT, or a bank card.

Buy before a price hike in less than 19 hours to secure the best deal.

Visit SOLX here .

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