Dogecoin price crashes as Musk battles with Trump
Dogecoin (DOGE), dubbed “the people’s crypto” by Elon Musk, dropped as much as 12.5% yesterday (-%22 in total over the previous week). As of now, the coin is down 7.29%. Dogecoin 24h price performance. Source: Finbold.com The plunge coincides with Musk’s formal exit from the Department of Government Efficiency (DOGE), the Trump administration initiative at the core of Musk’s plan to modernize information technology federal efficiency. Musk and Trump have been squabbling for some time now, with the former criticizing the latter’s recent spending bill and its consequences for the electric vehicle (EV) sector. Yesterday, Musk even claimed Trump would have lost the election without his backing, prompting Trump to threaten to cancel federal contracts with his companies. Dogecoin price plunges Given that it’s a meme coin, Dogecoin’s value is more reactive to celebrity influence than actual fundamentals. In particular, it is reactive to Musk’s public moves....