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MuskTrump

AVAX Surges 6% After Musk/Trump Dispute Sell-Off

by admin June 8, 2025

Crypto markets were shaken on Thursday when U.S. President Donald Trump and Tesla CEO Elon Musk engaged in a heated argument on social media over the U.S. national debt, which cumulated in the world’s richest man endorsing Trump’s impeachment and claiming the twice-elected politician was implicated in the Jeffrey Epstein files.

Avalanche’s token, AVAX

, was among those hit, dropping to as low as $18.48 from $20.14. It has since rise 6% to $19.65 to reclaim nearly 58% of the losses while forming a promising ascending channel pattern with resistance at $19.76, according to CoinDesk Research’s technical analysis model.

The token has lost 1% over 24 hours, while the CoinDesk 20, an index of the top 20 cryptocurrencies by market cap except for stablecoins, exchange coins and memecoins, has dropped 0.85%.

Recent trading sessions show decisive buying pressure, with notable volume spikes coinciding with price surges that briefly pushed AVAX to a local high of $19.76. Market analysis points to the consistent formation of higher lows over the past 14 hours as evidence of strengthening bullish momentum, with the $20.00 psychological level now within reach if current trajectory holds.

Technical Analysis

• AVAX experienced a sharp 8.14% decline from $20.14 to $18.48, with peak selling pressure when volume surged to 3.65 million.

• Strong support established at $18.48, with price subsequently climbing steadily to $19.65, reclaiming 57.8% of losses.

• An ascending channel pattern has formed with resistance at $19.76.

• Notable high-volume support emerged at $18.48-$18.88.

• Consistent higher lows over the past 14 hours indicate strengthening bullish momentum.

• In the last hour, AVAX continued recovery with a 1.01% gain from $19.49 to $19.69.

• Volume spikes occurred (45,299 and 64,948 units), coinciding with price surges to a local high of $19.76.

• Current price action shows strengthening bullish sentiment with support levels around $19.53-$19.55.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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June 8, 2025 0 comments

Crypto Trends

Musk-Trump fallout, DOGE dip and new viral memecoin Kori

by admin June 7, 2025

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Musk vs. Trump feud escalates with Epstein claims as Tesla stock plunges and public drama dominates headlines.

As the Elon Musk-Donal Trump drama gets messier by the second, spectators are pulling out their popcorn bags. This public feud has turned out to be the proverbial “car crash” that people can’t look away from.

What began with Musk exiting the Department of Government Efficiency following disagreements with Trump has now escalated to a full-fledged mudslinging with Musk even stating that the U.S. President’s name is on the infamous Epstein files. This is a serious accusation. President Trump, however, has not responded to these allegations, instead stating that Musk’s anger is a result of not having the policies he wanted in the One Big Beautiful Bill. Meanwhile, Tesla stocks have come crashing down.

Beyond the obvious entertainment value, how does the Musk-Trump fallout affect the crypto space? Elon Musk, over the past few years, has become the face of Dogecoin. Therefore, it’s no surprise that DOGE is suffering the brunt of the fallout. Priced at $0.1770, DOGE has recorded a 6% drop in the past 24 hours, and has suffered a 13% plunge in the past week.

However, the recent drama has not dissuaded traders as DOGE eyes a major move as its support near $0.18 holds. According to analysts, a break out of its current rut could spark a rally toward $0.31, $0.45, or even $1.

While DOGE struggles in the market, a new dog memecoin seems to have drawn public interest. Dog memecoins are not new in crypto, in fact, these might be the most common variety of memecoins out there, with frogs being a close second. Yet, it can also be argued that despite the saturation of cute dog coins, there’s always a want for more. Amid this welcoming market, a new memecoin has entered the space: Kori.

Kori the dog, like its predecessor, the inspiration behind the Shiba Inu memes, is an adorable little mutt that blew up on TikTok with silly antics and wholesome charm. Kori’s cute demeanor and feel-good memes put a smile on even the grumpiest faces. With over 1 billion views on TikTok and 1.7m followers, Kori has stolen hearts. And now this lovable little pup has become the icon of an up-and-coming Solana-based memecoin.

What’s most interesting about the Kori memecoin is that this new project is directly endorsed by the real team behind the Kori dog. The official Kori TikTok page has added the KORI memecoin’s contract address in its bio. This move is an industry first and is reflective of a new era of authentic meme-backed tokens.

Since its launch only a few weeks ago, KORI has surged over 700%, hitting $9m in market cap. Driven by the support from over 3k holders and coverage in Russian media and crypto news outlets, KORI is seeing explosive growth. As to whether this memecoin will reach the heights of Shiba Inu or Dogecoin, only time will tell.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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June 7, 2025 0 comments

GameFi Guides

Dogecoin Price Turns Bearish as Elon Musk-Trump Feud Ignites Fear

by admin June 7, 2025

The Dogecoin price records a drop of over 10% in valuation over the past seven days amid the setback faced between Elon Musk & Donald Trump. At the time of writing, the value of DOGE price was $0.179 with a trading volume of $1.63 billion. Moreover, with a market capitalization of $26.88 billion, this memecoin has secured the 08th position in the crypto market with a dominance of 0.8299%.

Check Dogecoin Price Technicals

The Bollinger Bands (BB) in the 4H time frame has displayed increased volatility as the bands are widening. Notably, the DOGE price chart recently touched the lower band near $0.17, suggesting increased selling pressure. The price has since rebounded and is approaching the midline.

With the DOGE memecoin heading toward its neutral zone, the price increase above this level might indicate that the market is heading towards growth.

Amid the rising volume, there has been a large drop in DOGE price. This highlights that investors are dumping their holdings of Dogecoin in a huge quantity. Increased volume highlights an increase in volatility, and decreases in the levels suggest weak bullish sentiment.

The Relative Strength Index (RSI) indicator fell into an oversold zone during the past week. Notably, it is currently valued at 39.75 and shows a rising trend pattern. This indicates improving market conditions in the four-hour time frame with a high possibility of a price reversal.

What’s Next for DOGE Price?

The Dogecoin price could retest its immediate resistance level of $0.183 if the bullish sentiment increases. If the momentum stays intact at that point in time, it could head toward its upper resistance levels of $0.200 and $0.217 in the upcoming time.

However, a rejection around $0.183 could pull back the value of this memecoin toward its crucial support of $0.165 this month.

Also Read: Ethereum Traders Lose $310M in 48 Hours, Will ETH Price Crash?

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June 7, 2025 0 comments

Crypto Trends

Ethereum, Solana, Doge traders caught off guard as Musk-Trump split weighs on markets

by admin June 6, 2025

Total crypto liquidations hit $972.22 million in 24 hours, with Ethereum, XRP, Dogecoin, and Solana among the most impacted

Long traders were caught off guard in the largest liquidation event since February, following a public split between U.S. President Donald Trump and a former close ally and supporter Elon Musk. On June 6, a wave of liquidations totaling $972.22 million swept the market, according to data from CoinGlass. Over the last 48 hours, nearly $3 billion in long and short positions were liquidated.

24-hour liquidations heat map on June 6 | Source: CoinGlass

Bitcoin and Ethereum led in total liquidation volume over the past 24 hours, accounting for 64% of the total. However, Solana (SOL) and Dogecoin (DOGE) saw the most liquidations relative to their market caps, highlighting a high level of leverage in these assets.

Trump-Musk spat caught long Doge, Solana traders off guard

The liquidation bias over the last 24 hours was overwhelmingly tilted against long positions. Of the total liquidations, $875 million, or 89%, came from longs. These highly leveraged positions were not able to withstand the spike in volatility driven by political developments in the U.S.

The trigger for the sharp liquidation wave was a slump in crypto prices following a public fallout between U.S. President Donald Trump and his former political ally, Elon Musk. Over the last 24 hours, Bitcoin (BTC) touched a low of $100,437, Ethereum (ETH) fell 7% to $2,387, and Solana dropped to $142. Meanwhile, Musk’s favorite crypto, Dogecoin, plunged over 20%, hitting a daily low of $0.1692.

Overall, the liquidation event appears to have stemmed from excessive long positioning amid a highly volatile market. Specifically, aggressive leveraged bets on Solana and Dogecoin, combined with stop-loss triggers during the slump, were enough to fuel the cascade of liquidations.

Despite the outsized liquidations, Solana has shown relative resilience—even outperforming Ethereum on some metrics. Dogecoin, however, remains heavily tied to Musk’s influence. With Musk now falling out of favor politically, DOGE is likely to face increased volatility in the near term.

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June 6, 2025 0 comments