Dogecoin Slides Amid Musk-Trump Feud as Solana-Based KORI Memecoin Soars on Social Media Hype
A public feud between Elon Musk and Donald Trump has significantly impacted the cryptocurrency market, particularly the perfomance of Dogecoin (DOGE). Following sharp accusations and dramatic media coverage, Dogecoin dropped to $0.1770, losing 6% in 24 hours and 13% in one week. The high volatility underscores how meme coins like DOGE are sensitive to celebrity influence and market sentiment, often outweighing fundamentals. Technical support near $0.18 may offer a rebound opportunity, but trading remains risky. In contrast, KORI, a Solana-based memecoin officially endorsed by the real Kori TikTok account, surged over 700% since launching, achieving a $9 million market cap and attracting more than 3,000 holders. The success of KORI highlights a new trend—authentic, community-driven tokens leveraging verifiable influencer backing for momentum gains. For crypto traders, these events demonstrate the heightened importance of authenticity, social media engagement, and the unpredictability of celebrity-driven narratives in the volatile memecoin sector. The shift toward influencer-backed meme coins may set a new industry standard, but the market remains high-risk with rapid price swings.
Bearish
The news is bearish for Dogecoin (DOGE) in the short term, as its price dropped significantly following high-profile tensions between Elon Musk and Donald Trump, highlighting how meme coins are highly susceptible to celebrity sentiment and media attention rather than fundamentals. This incident increases perceived risk and could deter cautious traders. In contrast, the rise of KORI shows momentum driven by authenticity and official social media endorsement, signaling a possible shift within the meme coin market. However, the overall environment for meme coins remains volatile and risky, especially for DOGE, with unpredictable swings likely to persist as celebrity narratives evolve.