On June 5, 2025, the conflict between Donald Trump and Elon Musk caused significant fluctuations in the cryptocurrency markets. As a result of this public dispute, the value of assets such as Dogecoin (DOGE) and the TRUMP token declined. DOGE lost about 8% or 2.5 billion dollars in market capitalization, making it one of the worst affected among the top 100 cryptocurrencies. Over the year, the price of DOGE dropped by 45%, to 0.175 dollars. The TRUMP token fell by 10%, losing nearly 900 million dollars in market capitalization, and is trading 80% below January's highs.