Why Dogecoin Is Sinking Today
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The price of Dogecoin (DOGE -4. 31%) is sinking on Tuesday. The meme coin saw its value decline 4. 6% from Monday at 4 p. ET to 12:43 p. ET Tuesday....
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cryptocurrency
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July 1, 2025
12:56 PM
The Motley Fool
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The price of Dogecoin (DOGE -4. 31%) is sinking on Tuesday
The meme coin saw its value decline 4. 6% from Monday at 4 p
The drop comes as the S&P 500 lost 0. 2% and the Nasdaq Composite lost 0
Dogecoin's most minent backer, Elon Musk, is once again involved in a public spat with President Donald Trump
The Musk-Trump feud reignites Musk's unofficial role as the "Dogefather" has left the cryptocurrency tied to Musk's public actions
His backing of Trump's presidential run and subsequent place in his administration as the head of the Department of Government Efficiency (DOGE) -- a not-so-subtle wink to Dogecoin -- pelled Dogecoin to heights not seen since 2021
The price more than doubled in the days ing the election
Image source: Getty Images
Musk left DOGE after a public spat with Trump, which has been mostly dormant for the last month
However, yesterday the feud reignited with a fresh round of attacks from Musk of Trump's One, Big, Beautiful Bill
This garnered a response from Trump that included the president calling for DOGE to review the subsidies Musk's companies receive, saying there is "BIG MONEY TO BE D. " Dogecoin isn't a serious investment Dogecoin is a meme coin
Its value is derived not from utility, but from vibes
That makes it incredibly volatile and subject to wild swings in price
Its recent price appreciation was built entirely on the hype that surrounded Musk's place at Trump's side, so when that goes away, so does the hype
I would not put my money in Dogecoin
Johnny Rice has no position in any of the stocks mentioned
The Motley Fool has no position in any of the stocks mentioned
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