PANews reported on June 6 that according to Decrypt, as Musk and US President Trump publicly broke up, related MEME currencies suffered a sharp sell-off. DOGE fell 6.4% to $0.1788 in 24 hours, becoming the seventh worst performing asset among the top 100 cryptocurrencies by market value; TRUMP plummeted 10% to $9.66, becoming the second largest token in the top 100 cryptocurrencies.

It is worth noting that Trump had dinner with 220 major TRUMP token holders just two weeks ago, and Musk previously used the Dogecoin logo and established a department called DOGE when he was in office at the Ministry of Government Efficiency. Analysts believe that this incident once again confirms the double-edged sword effect of the celebrity effect in the MEME coin market.