Why Dogecoin Is Sinking Today
Dogecoin's most prominent 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 -- propelled Dogecoin to heights not seen since 2021. The price more than doubled in the days following the election.
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 SAVED!!!"
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.
Should you invest $1,000 in Dogecoin right now?
Before you buy stock in Dogecoin, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dogecoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $722,181!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $968,402!*
Now, it's worth noting Stock Advisor 's total average return is1,069% — a market-crushing outperformance compared to177%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor.
See the 10 stocks »
*Stock Advisor returns as of June 30, 2025
Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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