#TradingPairs101 Memecoins Suffered from the Feud Between Trump and Musk

Memecoins associated with Trump and Musk – in particular Dogecoin and $TRUMP – suffered significant losses on Thursday and Friday as a fierce feud erupted between them on social media.

Musk's criticism of the large tax cut and spending bill supported by Trump apparently became the center of the conflict. Musk continued his rhetoric against the bill, calling it "filled with excess... disgusting."

Trump, in turn, threatened to cut government contracts with Musk's companies, particularly SpaceX, and also called Musk "crazy."

Memecoins, which mainly move based on sentiment, plummeted as the conflict worsened. $TRUMP fell by more than 10% on Friday, while Dogecoin traded down by 6.3%.