$TRUMP $DOGE
🚨Memecoins dented by Trump-Musk feud🚨
Memecoins associated with Trump and Musk– specifically Dogecoin and $TRUMP– clocked steep losses on Thursday and Friday as the two engaged in a bitter feud on social media.
Musk’s criticism of a sweeping tax cut and spending bill backed by Trump appeared to be at the locus of the feud, with Musk keeping up his rhetoric against the bill after calling it a “pork-filled… abomination.”
Trump on the other hand threatened to cut government contracts to Musk’s companies, especially SpaceX, while also questioning Musk’s character, calling him “crazy.”
Memecoins, which move largely based on sentiment, tumbled as the feud worsened. $TRUMP slumped over 10% on Friday, while Dogecoin was trading down 6.3%.