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Dogecoin $DOGE price has crashed in the past few months, and this trend may continue as the rare death cross pattern nears. Dogecoin (DOGE) token retreated to a low of $0.019 on Sunday, its lowest level since November 7 last year. It has plunged by over 60% from its highest level in November. Dogecoin’s crash has mirrored the performance of other meme coins, most of which have plunged in the past few months. Popular tokens like Shiba Inu, Pepe, and Dogwifhat are down by over 50%. It has also dropped as Elon Musk, a key backer for the memecoin, has come under intense pressure this year. Bloomberg data shows that Musk’s net worth has dropped by $103 billion this year, bringing his worth to $330 billion. The latest reporting is that Donald Trump is starting to push back on some of Elon Musk’s actions. According to the New York Times, Musk crashed with cabinet officials like Marco Rubio in a tense cabinet meeting. These discussions pushed Trump to rein on Musk, who leads the Department of Government Efficiency or DOGE. Therefore, the tumbling Tesla stock price and the new tensions between Musk and Trump mean that he may leave the department. Kalshi data shows that there is now a 54% chance that he will exit before July 2026. Established in 2013, Dogecoin became a popular meme coin in 2021 mostly because of Musk’s Tweets. As such, his DOGE exit would have some psychological effects leading to more downside. Dogecoin ( $DOGE ) price analysis The daily chart shows that the DOGE price continued its strong downtrend as investors remained in the sidelines. DOGE is about to form a death cross pattern, which happens when the 200-day and 50-day Exponential Moving Averages cross each other. The last time the coin formed a death cross was in July 2024, and the coin dropped by 40% after that. Dogecoin price has moved below the 61.8% Fibonacci Retracement at $0.2360, a sign that bears are in control. Also, the MACD and the Relative Strength Index have continued falling as sellers target the next key point at $0.1680, the 78.6% retracement point. A move below that level will point to a further decline to $0.80, 60% below the current level.

As cryptocurrency keeps gaining more and more mainstream popularity, interest is increasing about who among the most prominent individuals in the United States owns the largest crypto portfolios. From technology moguls and Hollywood elite to political powerbrokers, digital assets are emerging as an integral part of the financial fray. But with legislators directly influencing crypto regulation, might their investments play a role in policy decisions? Tech Moguls Leading the Crypto Revolution No surprise that a number of the largest players in the tech space have significant crypto positions. Tesla and SpaceX CEO Elon Musk has been a vocal supporter of Bitcoin and Dogecoin for a long time. Tesla announced in 2021 a $1.5 billion Bitcoin purchase, though Musk never publicly revealed his crypto stash. But his presence on social media tends to set off market movements, so he is one of the most influential people in the industry. Another high-profile investor is Dallas Mavericks owner and billionaire Mark Cuban. Cuban has shown that he owns Bitcoin, Ethereum, and a range of altcoins, and his basketball team even takes cryptocurrency as payment for tickets. Cuban remains a fan of decentralized finance (DeFi) and blockchain initiatives. Hollywood Celebrities Embracing Crypto Outside of the tech space, several celebrities have also become notable crypto investors. Snoop Dogg is not just an outspoken NFT supporter but has also claimed to be the author of the pseudonymous NFT collector handle “Cozomo de’ Medici.” Gwyneth Paltrow has made investments in Bitcoin mining companies and supports the use of cryptocurrency. NFL legend Tom Brady has also ventured into the space of digital assets, starting his NFT platform, Autograph. However, his association with now-bankrupt FTX exchange, for which he was a brand ambassador, led to financial losses and legal scrutiny. Politicians Quietly Accumulating Crypto? While Washington struggles with regulations, legislators are investing in crypto themselves. Wyoming Senator Cynthia Lummis is a strong Bitcoin advocate and has disclosed personal BTC holdings. She has consistently supported good legislation for the crypto industry. Robert F. Kennedy Jr., an outspoken crypto supporter, again confirmed in 2023 that he acquired Bitcoin for his kids to reiterate his faith in their long-term worth. Rumors have also circulated that Donald Trump, the former U.S. president, may have become friendly with crypto; his campaign ostensibly accepted donations in crypto, and his name came up as well about blockchain projects. The Controversy: Crypto Holdings & Policy Decisions With elected officials actively engaged in formulating crypto regulations, there are fears of potential conflicts of interest. Would their investments influence policymaking? Critics are calling for more transparency and disclosure mandates to facilitate equitable and neutral legislation. Conclusion As more and more of the cryptocurrency space grows in mainstream appeal, leading figures in technology, entertainment, and politics will increasingly activate their clout in investment, innovation, or political involvement. Crypto is becoming a force too mighty for America’s elite to ignore, whether in investment, innovation, or political might. The post Crypto Kings & Power Players: Which US Celebrities and Politicians Hold the Most Digital Assets? appeared first on Coinfomania.

$XAI XAI, An artificial intelligence company founded by Elon Musk, has acquired a 1 million square foot property in southwest Memphis. This move follows the company's announcement last December to expand its supercomputer, Colossus, in the city. The Greater Memphis Chamber released a statement on March 7, indicating that the new facility will complement xAI's existing operations and support its expansion in Memphis. The Chamber noted that the Colossus supercomputer is progressing towards the 'supercluster scale' announced by xAI last year.$XAI

$MINT Media plays a crucial role in shaping market sentiment, especially in the crypto and stock markets. Positive news coverage, social media discussions, and influential endorsements can create massive bullish trends by attracting new investors and increasing demand. Ways Media Hype Fuels Bullish Trends: Increased Retail Participation When media outlets promote a cryptocurrency or stock, retail investors rush in, driving prices higher. Platforms like Twitter, Reddit, and YouTube amplify hype, spreading FOMO (Fear of Missing Out). Celebrity and Influencer Endorsements Figures like Elon Musk, Mark Cuban, or major YouTubers can create instant bullish surges. A single tweet or post can spark price rallies (e.g., Dogecoin's rise after Musk's tweets). Breaking News and Major Announcements Reports on institutional adoption (e.g., Tesla buying Bitcoin) trigger bullish momentum. Positive developments like ETF approvals, partnerships, or regulatory clarity often drive prices up. Media-Induced FOMO (Fear of Missing Out) Sensational headlines create urgency, pushing investors to buy quickly. "Bitcoin to $100K?" or “Next 100x Altcoin?” headlines generate excitement. Influence of Financial News Channels Coverage by CNBC, Bloomberg, or major news outlets can legitimize a bullish trend. Traditional investors gain confidence when mainstream media supports an asset. Algorithmic Boost from Social Media Trends Platforms prioritize trending topics, further amplifying positive sentiment. AI-driven trading bots often react to social media activity, accelerating price movements. Psychological Reinforcement As more people believe an asset will rise, they buy in, creating a self-fulfilling bullish trend. Investors ignore risks, assuming "it will only go up." Historical Examples of Media-Driven Bullish Trends: Bitcoin 2021 Bull Run: Institutional investment hype and Elon Musk tweets fueled the rally. GameStop (GME) Short Squeeze: Reddit’s WallStreetBets drove prices to unprecedented highs. Dogecoin Boom (2021): Social media and celebrity tweets pushed DOGE up over 10,000%. Potential Risks of Media Hype: Market Manipulation: Whales and insiders may use media to pump prices before selling off. Overvaluation: Assets may become overpriced due to hype rather than fundamentals. Sudden Crashes: Once hype fades, prices often drop sharply, leading to losses for late buyers. $MINT

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