Hey there, crypto enthusiasts! If you've been following the latest buzz, you might have noticed that Dogecoin, the beloved meme coin championed by none other than Elon Musk, is facing a rough patch as a result of his recent tiff with Donald Trump.
The Dogecoin Drama Unfolds
Elon Musk's Affection for Dogecoin
For a while now, Elon Musk has been Dogecoin's biggest cheerleader, often playfully nudging its value up with his casual mentions on social media. The community loved it, and the coin basked in the spotlight.
The Price Plunge
However, things took a surprising turn when the price of Dogecoin plummeted by 6% in just 24 hours amidst the escalating exchange of words between Musk and Trump. In the span of a week, the meme-inspired token saw a 12% dip, leaving many investors on edge.
Behind the Scenes
The Tax Bill Controversy
The downward spiral began when Musk openly criticized the Republican tax and spending bill, labeling it a "disgusting abomination" and urging to "kill the bill." His bold statements ignited a storm that led to a public fallout with Trump.
The Social Media Showdown
As Musk and Trump engaged in a war of words on their social platforms, the tension escalated. Trump expressed disappointment in Musk's stance on the tax bill, triggering a series of fiery exchanges that reverberated across the digital realm.
What Lies Ahead
A Glimmer of Hope
Despite the heated exchanges, there were glimpses of a potential reconciliation between Musk and Trump. Yet, as the dust settled, it became evident that the bridge might not be easily mended, with Trump showing little interest in bridging the gap.
As the crypto world watches this high-profile rift unfold, one thing remains certain – the impact of Elon Musk's words and actions extends far beyond the realm of technology and finance. Stay tuned for more updates on this unfolding saga!
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By: jsor@businessinsider.com (Jennifer Sor)
Title: Elon Musk’s Favorite Cryptocurrency Takes a Hit Amid Trump Feud
Sourced From: www.businessinsider.com/elon-musk-donald-trump-tax-bill-dogecoin-price-tesla-doge-2025-6
Published Date: Fri, 06 Jun 2025 13:29:48 +0000
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