Musk clashes with Trump – Dogecoin is caught in cross fires

Dogecoin took a blow this week like flared tensions Between Elon Musk and US President Donald Trump. Prices have slipped heavily and red figures dominated the market.

The merchants who mounted media threw were found at the losing end. It was a week that many will remember how politics and the memes met unexpectedly.

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Musk and Trump confrontation

According to public articles, Elon Musk officially left The Ministry of Government (DOGE) on Thursday. This decision came after criticizing Trump’s spending bill.

He had co-directed this department since the end of 2024. Their back and forth warmed up after Trump said he was “Very disappointed” in Musk.

Trump: “I am very disappointed with Elon. I helped him very much. He knew better the interior functioning of the bill that anyone was seated here. He had no problem with that. All of a sudden, he had a problem and he only developed the problem when he discovered that we are going to cut the EV mandate” pic.twitter.com/aeccmcaodq

– Dogesigner (@cb_doge) June 5, 2025

In response, Musk said Trump would not have won the elections without his support. SO Trump called Musk “crazy” And threatened to cancel the Tesla and SpaceX contracts. Musk retaliated on X with: “Go ahead, do my day.” He even warned that he could spread the SpaceX dragon spacecraft.

Musk mentions Epstein documents

Based on X messages, Musk also said that files The case of Jeffrey Epstein Trump’s name has remained secret appears there. This statement added another layer to the quarrel.

It was no longer a question of spending. Now there was an allegation linked to the American president with Epstein sealed investigations. Trump replied that he would withdraw any contract with Musk companies.

It’s time to drop the very large bomb:@Realdonaldtrump is in Epstein files. This is the real reason why they were not made public.

Have a good day, DJT!

– Elon Musk (@elonmusk) June 5, 2025

Dogecoin price price

Depending on the reports, Dogecoin fell About 11% on Thursday only. During last week, he was down 16% compared to his recent tops. Merchants highlighted Musk’s political outing as a key factor.

Many still consider Dogecoin as “the popular crypto” due to the early support of Musk. But without its support in this government role, the feeling quickly happened.

It is a piece that has no real asset behind, so any change in media threshing can send released prices. A drop of this size is rare, but it has felt inevitable once the musque-trump quarrel has spread in public view.

Tesla shares the slide

Elon Musk’s companies have not escaped the benefits. The Tesla action closed 13% on Thursday. This fall occurred after Trump reported that he would draw federal contracts from any company belonging to Musk.

Investors feared loss of income and more rigid regulatory monitoring. Tesla’s actions had taken high this year, but Trump’s angry tweets were sufficient to shake confidence. Even a short sentence on X can move the markets, especially when it involves a figure as polarizing as Trump or Musk.

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Cryptography market liquidations

Meanwhile, the wider market of cryptography also felt a jolt. According to Coringlass data, total liquidation reached $ 982 million in one day. As a result, long liquidations – linked to prices – have been totalized $ 881 million.

Short positions, or Paris, expecting lowered prices, have experienced losses of $ 100 million. This level of liquidation is striking, and he has shown how fast the nerves can be blurred when great personalities compete. Bitcoin and many altcoins have slipped alongside Dogecoin, creating a chain reaction of forced sales.

Star image of Allison Robbert and Saul Loeb / AFP, tradingView graphic