ļæ¼ t ļæ¼ e ļæ¼ l ļæ¼ a Here's whatās happening:
š Why Dogecoin and āTesla Coinā are falling
1.Ā Dogecoin slump amid MuskāTrump clash
Over the past week, Dogecoin has dropped aboutĀ 12%, including ~7% just on June 6, directly tied to the escalating public feud between Elon Musk and Donald TrumpĀ businessinsider.com+15coindesk.com+15coindesk.com+15.
As Trump threatened to pull subsidies and Musk publicly denounced Trumpās budget bill, investor sentiment shifted. A classic bearish "bear-flag" chart pattern suggests DOGE could perhaps fall as low asĀ $0.06āa potential drop of ~66%Ā tradingview.com+2cointelegraph.com+2dig.watch+2.
2.Ā MuskāTrump feud slams Tesla (and Tesla Coin)
Tesla shares plunged aboutĀ 14%, wiping out ~$150āÆbillion in market value in a single trading session after the MuskāTrump fallout ļ¹ Tesla down ~17% intradayĀ youtube.com+3newsweek.com+3economictimes.indiatimes.com+3.
That crash dragged down related meme tokens likeĀ Trump Coin, which fell ~10% overnightĀ r-bloggers.com+15coinpedia.org+15coingape.com+15.
š The Catalyst: Public Farming by Billionaires
Musk called Trumpās bill the āBig Ugly Bill,ā calling for impeachment. Trump hit back with threats to cut federal contracts from Muskās companies, notably Tesla and SpaceXĀ forbes.com+15cointelegraph.com+15wired.com+15.
As both sides escalated, investor confidence in assets connected to Musk or Trump tanked.