Dogecoin's sharp drop of 16% this week reflects heightened market volatility due to the public feud between Musk and Trump, impacting overall investor sentiment.
Dogecoin fell 16% this week, including an 11% drop on Thursday, amid escalating tensions between Elon Musk and Donald Trump. Musk's exit from the Department of Government Efficiency and his public criticisms of Trump contributed to the decline. The broader crypto market saw about $982 million in liquidations, with Bitcoin and altcoins also experiencing significant losses.