Trump says he wants Elon Musk to 'THRIVE' after threatening his subsidies
WASHINGTON - President Donald Trump says he does not want to ruin billionaire advisor Elon Musk's businesses by taking away federal subsidies after recently threatening the former head of the Department of Government Efficiency.
'Everyone is stating that I will destroy Elon's companies by taking away some, if not all, of the large scale subsidies he receives from the U.S. Government,' Trump wrote in a July 24 Truth Social post. 'This is not so! I want Elon, and all businesses within our Country, to THRIVE, in fact, THRIVE like never before! The better they do, the better the USA does, and that's good for all of us. We are setting records every day, and I want to keep it that way!'
Musk's companies have benefited from billions of dollars in U.S. government contracts over the past two decades, including SpaceX through its relationships with the Department of Defense and NASA. In all, Musk and his businesses have received at least $38 billion in government contracts, loans, subsidies and tax credits, often at critical moments, a Washington Post analysis found.
Trump's latest remarks come after White House Press Secretary Karoline Leavitt said in a press briefing on July 23 that she does not think the president supports federal agencies contracting with Musk's artificial intelligence company, xAI, which developed the chatbot Grok. xAI recently announced a $200 million contract with the Department of Defense.
The two men had a dramatic falling out over Trump's signature tax and domestic policy law, with Musk blasting it as a 'disgusting abomination' that would only add to the growing deficit.
In July, Trump threatened to have DOGE review the billions of dollars' worth of contracts that Musk's companies receive.
"Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa," Trump wrote in a 12:44 a.m. July 1 post on Truth Social. "No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!"
Musk, who was co-leader of DOGE, responded shortly afterward, saying, "I am literally saying CUT IT ALL. Now."
Musk had warned Tesla investors on July 23 that U.S. government cuts in support for electric vehicle makers could lead to a "few rough quarters" for the company.
Contributing: Reuters, Joey Garrison
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Some analysts predict DOGE could surge to $1.50 if widespread adoption accelerates. The bullish case depends on increased payment integrations and sustained community enthusiasm. However, the bearish case highlights the risk of DOGE losing momentum as newer and more innovative cryptocurrencies enter the market. Dogecoin's long-term viability remains uncertain without a clear use case beyond speculation. Reasons to Invest in Dogecoin Dogecoin remains one of the most well-known cryptocurrencies, benefiting from an active and dedicated community. Unlike newer memecoins, DOGE enjoys deep liquidity, major exchange listings and real-world utility as a tipping and payment currency. Traders remain interested in Dogecoin because of its historical price surges following viral moments. Elon Musk's frequent mentions of DOGE have historically driven massive rallies, making it one of the most reactive cryptocurrencies to social sentiment shifts. Dogecoin's transaction fees remain lower than Bitcoin's, making it attractive for microtransactions. If further adoption occurs in the e-commerce sector, DOGE could see renewed demand. Recommended: . Factors That Could Slow Dogecoin's Growth Despite its popularity, Dogecoin has significant risks. The most pressing concern is its lack of fundamental utility beyond speculation. Unlike Ethereum or Solana, DOGE does not have a robust development ecosystem supporting long-term growth. Another factor that could impact its price is regulatory scrutiny. Dogecoin's volatility could increase if regulators crack down on meme coins or impose stricter trading rules. Additionally, competition from newer meme coins could siphon retail demand away from DOGE, leading to price stagnation. Price Predictions from Analysts To estimate Dogecoin's future price, we aggregated predictions from several sources: Wallet Investor CoinCodex Changelly CoinPedia These forecasts factor in historical price movements, technical analysis and broader market sentiment. Given DOGE's speculative nature, predictions vary widely, ranging from bearish estimates suggesting declines in a risk-averse market to optimistic projections anticipating new highs in a bullish cycle. Market Sentiment and Social Trends Social sentiment is one of the most important drivers of Dogecoin's price. The coin's value often reacts to social media activity, with price spikes occurring after high-profile endorsements or viral trends. For example, X user @ali_charts noted that "investor sentiment around Dogecoin is at its most negative in over a year." Historically, such extreme levels of fear have preceded major price reversals, suggesting that DOGE could be in a prime position for a bounce. Large investors, or 'whales,' have also accumulated Dogecoin in recent months. In early March, whales purchased approximately 1.7 billion DOGE (worth $285 million), signaling strong conviction in the coin's potential. This accumulation has historically preceded price increases, reducing the available supply for retail traders and creating a potential supply shock. Despite these bullish signals, the broader crypto market remains in a risk-off mode, with DOGE mirroring Bitcoin's pullbacks. Investors are cautious, waiting for breakout confirmation before shifting to a bullish stance. Speculative Demand and Hype Cycles Like all memecoins, Dogecoin follows boom-and-bust cycles driven by external events. The coin has experienced multiple speculative rallies, with its most famous surge occurring in 2021. DOGE skyrocketed to $0.73 following Elon Musk's Saturday Night Live appearance, only to crash in the following months. Similar speculative cycles could repeat in future bull runs. 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Historically, DOGE has followed Bitcoin's price movements, meaning that if BTC enters a bull run, Dogecoin could experience a surge in speculative interest. Another major factor is risk appetite. In a risk-on environment, traders are more likely to invest in speculative assets like Dogecoin. However, during periods of economic uncertainty or high interest rates, speculative assets tend to suffer, which could lead to price declines. Whale transactions also play a significant role in DOGE's price action. Large holders can manipulate short-term price movements, creating spikes or sell-offs that retail traders react to. Final Price Forecast Based on our methodology and market conditions, Dogecoin's future price range could look like this: Bearish Case: $0.145 – If market sentiment worsens or regulatory concerns increase, DOGE could drop to this level. Average Case: $0.420 – A moderate estimate based on historical trends and speculative demand. Bullish Case: $1.50 – If Dogecoin sees mass adoption, continued influencer support and a speculative bull run. This article DOGE Price Prediction: Where Dogecoin Could Be by 2025, 2026, and 2030 originally appeared on
