In June 2025, Elon Musk and Donald Trump got into a public feud on X . It seemed like just another ego clash — full of jabs, memes, and accusations. But while the world watched their online drama, the crypto market took a serious hit. Meme coins like Dogecoin and TRUMP plunged in value.
⚡️Musk vs. Trump: A Social Media Spat That Tanked Coin
Dogecoin (DOGE) Musk’s favorite meme coin — dropped by around 8%, wiping out $2.5 billion in market cap in just 24 hours.
TRUMP, a coin branded with Donald Trump’s face, fell 8.9%, pushing its valuation below the $2 billion mark.
No hacks, no regulations, no technical bugs. Just tweets — and billions gone.
Why People Even Buy Coins with Faces On Them
Unlike the stock market where fundamentals and business models drive decisions crypto often runs on emotion. Vitalik Buterin is a perfect example: many associate Ethereum not just with its technology, but with his personal story.
According to legend, it started when Buterin was banned from his favorite online game. He felt it was unfair that too much power was concentrated in one place.
That moment inspired him to imagine a system where power is decentralized. That idea became the foundation for Ethereum.
People were drawn not just to the tech, but to the story: a teenager wronged in a video game ends up building the world’s second-largest blockchain.
Hero’s journey? Absolutely.
That’s why for many, Ethereum isn’t just about smart contracts it’s about the kid who fought back.
People aren’t just buying tokens. They’re buying narratives. And as long as that narrative inspires, prices soar. But if the storyteller slips up even slightly prices crash.
💥One Honest Tweet and Shiba Inu Drops 27%
In late 2021, Musk was actively tweeting about Dogecoin, calling it the “people’s crypto,” joking and posting memes. Riding that wave, Shiba Inu (SHIB) another dog-themed meme coin started rising too. Same vibe, same potential… maybe Musk owns it?
Eventually, someone asked Musk directly on Twitter:
“How much SHIB do you hold?”
He replied: “None.”
That was it.
SHIB crashed 27% within hours.
One honest answer — and millions in market cap vanished.
⚡️What Crypto Investors Should Remember
The crypto market is extremely influencer-sensitive. Here’s how to stay sane:
💥 Don’t buy just for the hype. If a coin relies on a personality cult, its foundation is shaky.
👀 Follow influencers — if you hold their meme coin, Twitter is basically their earnings report.
🧠 Invest smart. Meme coins are crypto fast food — fun and quick, but never long-term nutrition.
✨️Should You Invest in Personalities?
If you’re a short-term trader maybe. Just know when to exit.
But if you’re investing for the long run, stick to projects with real tech, strong teams, and practical use cases.