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Dogecoin price risks 66% drop to $0.06 as Trump-Mu
Dogecoin's DOGE $0.1863 price flipped bearish on June 5 after a public feud broke out between US President Donald Trump and his most celebrated backer, Elon Musk. DOGE price is down 7% over the last 24 hours to $0.17, with a classic bearish pattern projecting further losses to $0.06.
Musk's breakup with Trump bad for Dogecoin Data from Cointelegraph Markets Pro and TradingView shows Dogecoin trading in a third consecutive bearish session on the weekly candle chart.
The price is down 14% in seven days, extending the three-week-long slide to 28%, as billionaire Musk escalated his public spat with Trump.
The fallout that has been sparring in recent days after Musk's official departure from the Department of Government Efficiency (DOGE) escalated on June 5 with Trump threatening to terminate Musk's government subsidies and contracts, potentially saving "Billions and Billions of dollars."
Musk responded on X, claiming Trump would have lost the 2024 presidential election without his support. He called Trump's recent spending bill the "Big Ugly Bill" and backed calls for his impeachment.
Musk, a vocal Dogecoin supporter, has historically influenced its price through endorsements, such as tweets or Tesla's partial acceptance of DOGE for payments. Dogecoin jumped more than 25% in a single day in 2022 after Tesla began accepting DOGE as payment for selected merchandise.
#DogeCrashMarket #DogeBackDown
Dogecoin's DOGE $0.1863 price flipped bearish on June 5 after a public feud broke out between US President Donald Trump and his most celebrated backer, Elon Musk. DOGE price is down 7% over the last 24 hours to $0.17, with a classic bearish pattern projecting further losses to $0.06.
Musk's breakup with Trump bad for Dogecoin Data from Cointelegraph Markets Pro and TradingView shows Dogecoin trading in a third consecutive bearish session on the weekly candle chart.
The price is down 14% in seven days, extending the three-week-long slide to 28%, as billionaire Musk escalated his public spat with Trump.
The fallout that has been sparring in recent days after Musk's official departure from the Department of Government Efficiency (DOGE) escalated on June 5 with Trump threatening to terminate Musk's government subsidies and contracts, potentially saving "Billions and Billions of dollars."
Musk responded on X, claiming Trump would have lost the 2024 presidential election without his support. He called Trump's recent spending bill the "Big Ugly Bill" and backed calls for his impeachment.
Musk, a vocal Dogecoin supporter, has historically influenced its price through endorsements, such as tweets or Tesla's partial acceptance of DOGE for payments. Dogecoin jumped more than 25% in a single day in 2022 after Tesla began accepting DOGE as payment for selected merchandise.
#DogeCrashMarket #DogeBackDown
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