The fight between Elon Musk and Donald Trump not only shook politics and traditional markets. It also left the cryptocurrency world trembling, an ecosystem where both have great influence.
⚔️ Two titans, a crypto ecosystem in the middle
Elon Musk has been a key figure in boosting coins like Dogecoin and has moved the market with just a tweet.
Donald Trump, for his part, launched his own token ($TRUMP) and has shown a favorable turn towards cryptos during his new presidential campaign.
But now, with both in open warfare, the crypto market enters unstable territory.
📉 What has happened in the last few weeks?
💸 Drop in Dogecoin and other altcoins
Following the public outburst between Musk and Trump:
Dogecoin fell by up to 12%, after rumors that Musk might 'disengage' from the crypto.
Bitcoin and Ethereum also pulled back slightly, dragged down by general nervousness in the crypto environment.
Other coins like Shiba Inu and PepeCoin suffered from the domino effect and uncertainty in networks.
💣 Trump's token is also suffering
The MAGA token ($TRUMP), which was rising due to the electoral boom, fell by more than 10% after the cross threats between both billionaires. Musk is followed by millions of crypto investors, and his negative comments generate immediate reactions.
Even some large holders (whales) began to sell to protect their profits, which increased volatility.
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