Dogecoin Drops 6% After Musk-Trump Exchange

Dogecoin, the popular memecoin, experienced a notable 6% price drop on June 12, 2025, following a public exchange of remarks between Elon Musk and Donald Trump. This event underscored the significant influence that these prominent figures hold over the valuation of Dogecoin, highlighting the memecoin's susceptibility to non-fundamental events and news cycles involving high-profile individuals.

The price decline occurred within hours of the public discourse between Musk and Trump, demonstrating the immediate impact that their statements can have on the cryptocurrency market. Musk, known for his influence on Dogecoin, issued an apology on X regarding his previous remarks about Trump. "I regret some of my posts about President @realDonaldTrump last week. They went too far," Musk stated. However, Trump continued to demand the end of Musk’s subsidies, further exacerbating the tension and contributing to Dogecoin's 6% decrease.

In contrast to Dogecoin's volatility, other major cryptocurrencies such as Bitcoin and Ethereum remained largely unaffected by the Musk-Trump discord. This stability in the broader cryptocurrency market further emphasized Dogecoin's unique sensitivity to social media-driven news and the influence of high-profile figures. The memecoin's price movements often correlate with external, non-regulatory factors, making it a volatile asset that requires careful consideration by investors.

Historical data indicates that June has consistently been a challenging month for Dogecoin, with similar declines recorded in the past. This pattern suggests that the memecoin may continue to experience volatility in reaction to headlines involving Musk and Trump, or other prominent figures. While Musk's influence on Dogecoin remains significant, the long-term stability of the memecoin is uncertain, and investors should be prepared for continued price fluctuations driven by external factors.