#TrumpVsMusk

Musk’s breakup with Trump bad for Dogecoin

Data from Cointelegraph Markets Pro and TradingView shows Dogecoin trading in a third consecutive bearish session on the weekly candle chart.

The price is down 14% in seven days, extending the three-week-long slide to 28%, as billionaire Musk escalated his public spat with Trump.

The fallout that has been sparring in recent days after Musk’s official departure from the Department of Government Efficiency (DOGE) escalated on June 5 with Trump threatening to terminate Musk’s government subsidies and contracts, potentially saving “Billions and Billions of dollars.”

Musk responded on X, claiming Trump would have lost the 2024 presidential election without his support. He called Trump’s recent spending bill the “Big Ugly Bill” and backed calls for his impeachment.