Elon Musk vs. Trump: Feud Sparks 9% Dogecoin Drop

TradingKey

AuthorBlock Tao

Jun 6, 2025 7:12 AM

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TradingKey – A fallout between Elon Musk and U.S. President Trump has intensified Dogecoin’s decline, pushing losses beyond 9%.

On Friday, June 6, Dogecoin (DOGE) tumbled 9.09%, hitting a monthly low of $0.168 before rebounding slightly to $0.176 at press time.

Dogecoin Price Chart – Source: TradingView.

Earlier today, Bitcoin (BTC) dropped over 3%, triggering a 5% sell-off across the entire crypto market — a movement that dragged DOGE lower as well.

The market reacted negatively to the public feud between Musk and President Trump, raising concerns over Dogecoin’s trajectory.

Historically, Musk has been a vocal supporter of Dogecoin, often sparking dramatic price movements. Following Trump’s election, the administration even named a new government efficiency department after "DOGE."

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