The moment most people saw as inevitable has arrived: tech mogul Elon Musk got into a serious squabble with Donald Trump, the 45th & 47th United States President. All hell broke loose amid a tirade of sarky tweets from Elon, touching upon the hot topic of Donaldโs โbig beautiful billโ.
Soon enough, the tension between these two highly influential American figures started reflecting on both traditional stock & crypto markets, sending all affiliated coins & stocks tumbling by double digits.
Tesla, Dogecoin Get Knocked Off Their Seats
Naturally, the electric car manufacturer Tesla (TSLA) was the first one to get bit by the bears, otherwise known as short-sellers. Slipping by 14.26% today, TSLA stock succumbed to a 19.91% deficit over the past five days.
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Teslaโs market cap crunched by $152 billion overnight, sending the electric vehicle companyโs value below $1 trillion. If the EV mandate-cutting โbig & beautiful billโ gets passed by the congress, Elon Musk forecasts a recession in the second half of 2025.
Meanwhile, the top dog meme coin Dogecoin (DOGE) dwindled by 7.3% to retreat back to the $0.17 support level, completely erasing the monthโs gains. The rising feud between Elon Musk & Donald Trump hasnโt spared Dogecoinโs co-founder Billy Markus, also known as Shibetoshi Nakamoto.
The programming virtuoso called out Donald Trump over something that has been known to the general public for quite some time. โCan I finally say that Trumpโs tariffs are st*pidโ, – baldly stated Billy Markus, but refrained from commenting on the Musk vs. Trump beef impact on Dogecoinโs price.
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Elon Musk criticized Trumpโs spending bill, leading to public insults and threats, escalating their rift.
Muskโs public feud with Trump and his exit from DOGE leadership caused Dogecoin to fall about 10%.
Tesla shares plunged 14-17%, wiping out over $150 billion in market value due to the feud.
DOGE refers to the Department of Government Efficiency, where Musk briefly served, not just Dogecoin.
Investors fear a tougher regulatory environment, but the long-term impact depends on how the feud evolves.
