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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Reflecting the high sensitivity of meme coins to Elon Musk's corporate milestones, Dogecoin has faced significant selling pressure that defied bullish trader expectations. According to reports, the price of Dogecoin plummeted by 18% between June 1 and June 6, trading down to approximately $0.082. This sharp decline occurred despite the anticipation surrounding the SpaceX initial public offering scheduled for June 12, as the event failed to ignite the expected buying momentum.
Historically, DOGE price action has been closely linked to Musk's ventures, yet recent performance shows a decoupling from major assets; while DOGE struggled, market data indicated relative stability in benchmark cryptocurrencies like Bitcoin. Per CoinDesk reports, the lack of direct signals regarding DOGE integration into SpaceX services led to preemptive profit-taking, causing the coin to drop over 15% in a single week (per market data).
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Sign InTraders should watch for support levels near $0.080, with DOGE trading at depressed levels compared to the start of the month (close June 6, 2026). Looking at the economic calendar, upcoming US inflation data may impact overall crypto risk appetite, while the June 12 IPO date remains the primary catalyst to determine if the coin will regain its momentum or continue to slide.