Dogecoin just took a major hit. The popular memecoin plunged 10% today, bringing its weekly losses to a brutal 22%. The cause? Elon Musk has officially cut ties with the Trump administration, stepping down from the Department of Government Efficiency — ironically abbreviated as DOGE.
But this wasn't just a resignation. It was a political blowup of epic proportions, dragging Dogecoin down in the process.
⚡ Political Firestorm: Musk vs. Trump Goes Public
It all started earlier this week when Musk openly criticized Trump’s latest spending bill. In retaliation, Trump pulled the nomination of Jared Isaacman, a longtime Musk ally, for NASA leadership. That move shattered any illusion of peace between the two.
By Thursday, things exploded. Trump told the media he was “very disappointed” in Musk.
Musk clapped back on X (formerly Twitter), writing:
“Trump would’ve lost the election without me.”
Trump’s reply? Just one word: “MADNESS.”
🚀 Threats Fly as Musk Ends Dragon Program
Trump threatened to revoke federal contracts for Musk’s companies — Tesla, SpaceX, and others. Tesla stock tanked 14% by the end of the trading day.
Musk fired back:
“Go ahead, make my day,” he posted on X.
Then he dropped the bomb: SpaceX would begin shutting down its Dragon capsule program, the only American spacecraft currently transporting astronauts to and from the International Space Station.
🪙 Dogecoin Falls — Because Elon’s Influence Fades
Dogecoin wasn’t mentioned directly — but it didn’t matter. The memecoin has never been about fundamentals. It runs on vibes, memes, and above all — Elon’s influence.
📈 In 2022, DOGE spiked 15% in one day after Tesla started accepting it.
📈 In 2023, the price soared over 30% when Elon changed Twitter’s logo to the Shiba Inu.
📉 Today, with Trump tensions and government deals at risk, the same price is crashing.
💥 The Bromance Is Over
Back in November, Dogecoin rallied after Trump’s election win, as crypto traders hoped for a regulatory-light environment and Musk’s continued political clout.
But now that Elon is out of Trump’s inner circle, those hopes are fading fast. The bromance is broken — and Dogecoin is paying the price.
#ElonMusk , #TRUMP , #Dogecoin , #DOGE , #CryptoNewss
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