Musk and Trump Clash, Dogecoin Plummets 10%! Meme Coin Market Trembles
On June 6th, the crypto market was hit by a "political nuclear bomb". Musk and Trump publicly clashed, causing Dogecoin to drop 10% on the same day, with a weekly cumulative decline of up to 22%. As the "king of promotion" for Dogecoin, every move Musk makes affects the coin's price.
Impact of the Conflict:
Dogecoin Plummets: Market value evaporates by a quarter, dropping to 0.16778.
Tesla Suffers: Stock price falls over 14% in one day, investors worry about its stability.
Market Confidence Shaken: Musk and Trump’s fallout undermines policy and market expectations.
Trigger of the Conflict:
Musk opposes Trump's tariff policy, claiming it disrupts corporate supply chains.
Trump angrily calls Musk "mentally disturbed", threatening to terminate government contracts.
Musk retaliates: intends to retire SpaceX Dragon spacecraft (a key tool for U.S. space endeavors).
Potential Impact on the Crypto Market:
Meme coins are under short-term pressure, with mainstream coins like BTC and ETH also experiencing slight declines.
If the conflict escalates to the policy level (such as tightening regulations), the market may face greater selling pressure.
Investors should closely monitor the subsequent statements and policy positions of both individuals.
The conflict between Musk and Trump is evolving from "verbal sparring" into a market storm. Dogecoin, as the "Musk sentiment coin", is at the forefront. Although short-term risks are high, history shows that after turbulence, new opportunities often arise.
Advice: Stay calm, closely track developments, and avoid blindly chasing price increases or selling off in panic.
