--- title: "Elon and Trump’s Breakup Results In Hilarious Consequences For Dogecoin" description: "Elon Musk and Donald Trump's nasty feud has had some unintended consequences for the meme coin that inspired DOGE." date: "2025-06-06" modified: "2025-06-06" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/elon-trump-doge-slump" categories: - "Blockchain" - "Future Society" tags: - "crypto" - "dogecoin" - "donald trump" - "elon musk" --- # Elon and Trump’s Breakup Results In Hilarious Consequences For Dogecoin ![Elon Musk and Donald Trump's nasty feud has had some unintended consequences for the meme coin that inspired DOGE.]() *\Image: Jaap Arriens/NurPhoto via Getty Images\* Elon Musk and Donald Trump's nasty feud has had some unintended consequences for the meme coin that inspired the Department of Government Efficiency. As [*CNBC* reports,]() Dogecoin fell 10 percent on Thursday, the day that the Musk and Trump spat spilled over onto social media, and was down 22 percent week-over-week at its lowest point last night, when it was worth less than 17 cents per token (don't gasp too hard, but it's now soared back up to 18 cents.) Given that it's a meme coin, Doge has never been worth all that much to begin with. At its [absolute peak in 2021](), the coin traded just under 75 cents thanks to [Musk's endorsement]() — and despite regular peaks and valleys, it's never again surpassed that all-time high. Despite its near-worthlessness, Dogecoin has been a useful metric for tracking the way Musk affects market. As *CNBC* notes, the meme coin [spiked 15 percent]() in a day when Tesla began accepting it for merchandise in 2022, and [jumped 35 percent]() later that same year when Musk bought Twitter. Just as Doge giveth, Doge seems to taketh away. The unelected billionaire has entirely squandered the gains he garnered for the meme coin when riding on Trump's coattails, first with the [announcement of the agency's creation]() and again when its [official website was launched]() just after the president's inauguration. As [*Cointelegraph* reports](), the coin could be poised to slip even further. Dogecoin's three-week Trump slump suggests, per the site's analysis, that it could fall to as little as six cents per coin if its bearish streak continues. Should it continue to fall, a massive selloff event may occur as itchy investors seek to rid themselves of the tarnished token. Over on the everything app, Doge bros are, as usual, acting absolutely bonkers about the coin's chances of survival. "Looks like yesterday was just another bear trap for Dogecoin," [one such investor tweeted]() alongside a chart showing projected "euphoric" highs that almost certainly will not be attained. "Let's go!" In another unrealistic prognostication that borders on tragic, one account shared a graphic explaining that if investors "[hold together, nobody will fall]()." "I'll keep reposting till we hit the Dollar," the delulu poster exclaimed. In Washington, the fiery feud between Musk and Trump has [shaken the status quo]() — but for crypto types, it's just another weekend. **More on meme coins:** [*You’ll Never Guess What Happened to Trump’s Meme Coin After He Announced His Tariffs*]() ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()