The coin that was once pushed to the skies by the meme community has just experienced a disastrous drop of 10% in just one day. Since the beginning of the week, DOGE's price has evaporated by 22%, causing many small investors to 'stare red-eyed at the chart'. But this time, the drop was not due to Bitcoin's pull or technical issues. The culprits are two very familiar names: Donald Trump and Elon Musk.
Everything started from a political confrontation that seemed unrelated to crypto – but made DOGE 'bleed' profusely.
The Power Play Begins: Elon Takes a Swipe at Trump – Trump Retaliates Relentlessly
At the beginning of the week, Elon publicly criticized Trump's new spending bill. Immediately, the U.S. President responded by withdrawing the nomination of Jared Isaacman – a close ally of Elon who was expected to lead NASA in major space missions.
Anyone who has followed Elon for a long time will know: Isaacman is not just a business partner, but also a key player in the strategy to make SpaceX the 'new NASA' of the U.S. Trump's withdrawal of the nomination is like a political blow to Musk's space ambitions.
But the story doesn’t stop there.
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Tensions Explode – SpaceX Suspends Dragon, Market Panics
By Thursday, the verbal sparring escalated into an open war. Trump stated to the press that he was 'very disappointed' with Elon. A few hours later, Elon hit back on X (formerly Twitter):
"Without me, Trump would have lost in the first round."
Trump only answered with one word: "CRAZY."
But that was just the prologue. Trump then threatened to cancel a series of federal contracts held by Elon’s companies – from Tesla to SpaceX.
The market's reaction was immediate: Tesla's stock evaporated by 14% before closing.
And Elon? He did not hesitate. On X, Elon wrote:
"Go ahead, show me what you can do."
Immediately after that, he announced a suspension of the Dragon spacecraft program – the only card the U.S. currently has capable of sending astronauts to the International Space Station (ISS).
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DOGE Not Mentioned – But Crushed by the Market
In all that political drama, Dogecoin was not mentioned at all. But everyone knows: Dogecoin lives thanks to Elon, and dies because of Elon.
DOGE is not tied to any real asset, has no product, and no revenue. It exists on memes, community, and Elon Musk.
During the time Elon was 'on Team Trump', every move he made had the potential to pump DOGE's price. Back in 2022, when Tesla accepted DOGE for merchandise purchases, the price immediately jumped 15%.
In 2023, Elon changed Twitter's logo to a Shiba Inu – DOGE increased by over 30% in just a few hours.
But right now? Elon is stepping back from Washington, contracts are threatened, and Dogecoin is plummeting.
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Faith Collapses – The Market Begins to Understand: Hype Cannot Last Forever
After Trump's election victory in November, the crypto market had hoped the new administration would 'ease up' on blockchain, causing Dogecoin and other coins to surge. But now, no one is optimistic anymore.
The bromance between Trump and Elon has shattered, dragging investor confidence down with it. The price to pay is the red dominating the entire price chart.
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Where is Dogecoin now and where will it go?
Investors are wondering:
If Elon is no longer at the center of politics, if federal contracts are cut, if his products are stalled – who will save Dogecoin?
No one knows. But one thing is certain: blind faith in a name, a meme movement, will not save your wallet from burning.
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Want to know how far Dogecoin is falling?
👉 Check the price of Dogecoin here $DOGE
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Conclusion: The Political Game Spares No One – Not Even Meme Coins
Elon Musk has repeatedly caused the crypto market to surge with just one tweet. But now, he is the reason that Dogecoin holders are anxious every hour.
This is no longer an internet joke.
This is real money – and real loss.
If you are still dreaming about a pump thanks to Elon – wake up. And don’t forget to check the price of Dogecoin and Shiba Inu right now.
This is the time to review your portfolio, to ask the question:
Are you investing in technology – or just believing in a fading meme?
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Remember: in the world of crypto, news is ammunition – and you are in the middle of a battlefield.