Dogecoin has tumbled since Tuesday morning as the conflict between Elon Musk and Donald Trump over the budget bill escalated.

“The best way for Elon to get back at Trump is by full porting Bitcoin,” crypto trader and analyst Will Clemente said in a June 6 X post. Echoing a similar sentiment, JAN3 founder and CEO Samson Mow said in an X post on the same day, “@elonmusk, it’s time to go all in on Bitcoin.”

The Trump Liberation Day tariffs refer to a sweeping set of trade restrictions and import taxes proposed by Donald Trump after returning to office in 2025. They were part of his broader economic agenda announced on what his supporters dubbed “Trump Liberation Day” — the day marking his re-entry into the White House.