Dogecoin (CRYPTO: DOGE) tumbled on Friday as a public dispute between President Donald Trump and Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk threatened to cancel billions in government contracts and subsidies for Musk's companies.

Dogecoin（Crypto：Doge）週五大跌眼鏡，因為唐納德·特朗普總統和特斯拉公司（納斯達克股票代碼：TSLA）首席執行官埃隆·馬斯克（Elon Musk）威脅要取消數十億美元的政府合同和馬斯克公司補貼。

What Happened: Dogecoin DOGE/USD traded at $0.1726, down 9.14%. The meme cryptocurrency, which is known for its Shiba Inu logo and was created by Billy Markus and Jackson Palmer in December 2013, dropped alongside broader crypto selloffs that saw Bitcoin BTC/USD fall 0.98% to $103,793 and Ethereum ETH/USD decline 5.08% to $2,751, as of 6:11 a.m. Eastern Time.

發生了什麼：Dogecoin Doge/USD的交易價格為0.1726美元，下跌了9.14％。 The meme cryptocurrency, which is known for its Shiba Inu logo and was created by Billy Markus and Jackson Palmer in December 2013, dropped alongside broader crypto selloffs that saw Bitcoin BTC/USD fall 0.98% to $103,793 and Ethereum ETH/USD decline 5.08% to $2,751, as of 6:11 am Eastern Time.

Total crypto market cap fell 3.77% to $3.18 trillion.

總加密市值下降了3.77％，至3.18萬億美元。

The market turbulence came as Trump and Musk engaged in a heated exchange on social media. The Tesla CEO criticized Trump's spending bill, which he described as a "massive, outrageous, pork-filled Congressional abomination."

當特朗普和馬斯克在社交媒體上進行激烈的交流時，市場動盪發生了。特斯拉首席執行官批評了特朗普的支出法案，他將其描述為“龐大，令人髮指，充滿豬肉的國會憎惡”。

In response, Trump threatened to terminate billions in government contracts and subsidies for Musk's companies.

作為回應，特朗普威脅要終止馬斯克公司的政府合同和補貼。

"I will be terminating the STUPID trillions of dollars in subsidies and contracts that are being paid to, and collected by, his company in order to make products in China, and sell them in the United States, and I will be firing the chairman of the Federal Reserve, Jerome Powell, a Trump appointee who is a complete lunatic," Trump wrote on Truth Social.

特朗普在真相社會上寫道：“我將終止愚蠢的補貼和合同的補貼和合同，並由他的公司付款並收集到他的公司，以便在中國生產產品，並在美國出售它們，我將解僱美聯儲的董事長杰羅姆·鮑威爾（Jerome Powell），特朗普任命的特朗普任命，是一個完全的瘋子。”

Sharp moves in $TRUMP and $DOGE demonstrate just how quickly political drama can move markets, especially when tied to cryptocurrencies with strong narrative-driven communities. As #crypto markets mature, we’re seeing them become more sensitive to real-world political headlines, and this latest episode is a prime example of that dynamic in action.

夏普（Sharp）以$ trump和$ doge的身份移動，證明了政治戲劇可以轉移市場的速度，尤其是與具有強大敘事驅動社區的加密貨幣相關聯時。隨著#Crypto市場的成熟，我們看到它們對現實世界的政治頭條更加敏感，而這一最新一集是動態動態的一個典型例子。

— Finbold (@Finbold) August 11, 2023

- Finbold（@finbold）2023年8月11日

The president's threats came after he announced plans for a new economic bill, which he described as "Big, Beautiful, and relatively painless, like a Band-Aid on a small cut."

總統宣布了一項新的經濟法案的計劃，他將其描述為“大，美麗且相對毫無痛苦，就像一個小削減的創可貼。”

However, Trump did not disclose any specific details about the bill's contents or how it would differ from the $4.6 trillion spending measure that he had previously proposed and which was passed by Congress with bipartisan support in November 2021.

但是，特朗普沒有透露有關該法案內容的任何具體細節，或者與他先前提出的4.6萬億美元支出措施有何不同，並於2021年11月獲得了兩黨支持的國會通過。

Tesla shares plunged 14.3% on Thursday following Trump's threats but recovered 5.02%, trading at $298.9 in pre-market trading on Friday.

特斯拉的股價在特朗普威脅後周四跌倒了14.3％，但恢復了5.02％，週五的前市場交易的交易價格為298.9美元。

Musk had stepped down from his role as senior adviser at the Department of Government Efficiency just days before the public confrontation escalated.

馬斯克在公眾對抗升級前幾天就辭去了政府效率部高級顧問的職務。

The billionaire had joined the administration in February, focusing on advising the government on improving efficiency and reducing the deficit.

億萬富翁於2月加入了政府，重點是為政府提供提高效率和降低赤字的建議。

His involvement in the Biden administration had sparked interest in a potential shift in policy towards cryptocurrencies, with some anticipating a more favorable stance from the Democratic president.

他參與拜登政府激發了人們對政策向加密貨幣的潛在轉變的興趣，有些人預計民主黨總統會有更有利的立場。

Why This Matters: Supporters of Dogecoin have pointed to Musk's role in the token's price surges and his ability to rally the crypto community.

為什麼要這麼重要：Dogecoin的支持者指出了馬斯克在代幣的價格飆升以及他集會加密社區的能力中的作用。

Earlier this year, when Trump announced his candidacy for the 2024 presidency, a token named after the former president shot up in price.

今年早些時候，當特朗普宣布競選2024年總統職位時，這是前總統命名的代幣。

The Trump token, which is a programmable token on the Ethereum blockchain, was created in December 2021. The token's ticker symbol is TRUMP, and it is designed to be a governance token that will allow users to vote on proposals for the Trump chain.

特朗普令牌是在2021年12月創建的以太坊區塊鏈上的可編程令牌。代幣的股票符號是特朗普，其旨在成為一種治理令牌，允許用戶對特朗普鏈的提案進行投票。

The token's price surged to a high of over $1,000 in January, but it has since pulled back to around $75.

一月份，令牌的價格飆升至1,000美元以上，但此後已撤回到75美元左右。

The token's website describes it as "the official Trump token for the Trump chain, a new blockchain designed to support Trump's vision for a better, safer, and more prosperous America."

令牌網站將其描述為“特朗普連鎖店的官方特朗普代幣，這是一個新的區塊鏈，旨在支持特朗普對更好，更安全，更繁榮的美國的願景。”

The token is also being used to fund the development of Trump chain products, such as a Trump wallet and Trump exchange.

代幣還用於資助特朗普連鎖產品的開發，例如特朗普錢包和特朗普交換。

"We are creating a Trump economic empire, one token at a time," the website says.

該網站說：“我們正在創建一個特朗普經濟帝國，一次是一個像徵。”

The Trump token is part of a broader trend of tokens being named after politicians and other public figures. For example, there are also tokens named after Biden, Obama, and Sanders.

特朗普令牌是以政客和其他公眾人物命名的更廣泛趨勢的一部分。例如，還有以拜登，奧巴馬和桑德斯的名字命名的令牌。

These tokens are typically created by fans of the politicians or as a way to make a political statement. The tokens can be used to vote on proposals for the Trump chain, and they will also be distributed to supporters of Trump's political campaigns.

這些代幣通常是由政客的粉絲或作為政治聲明的一種方式創建的。代幣可用於對特朗普連鎖店的建議進行投票，也將分發給特朗普政治運動的支持者。

The Trump token is a governance token that will allow users to vote on proposals for the Trump chain, a new blockchain designed to support Trump's vision for a better, safer, and more prosperous America. The token is being used to fund the development of Trump chain products, such as a Trump wallet and Trump exchange. We are creating a Trump economic empire

特朗普令牌是一個治理令牌，它將允許用戶對特朗普連鎖店的提案進行投票，這是一個新的區塊鏈，旨在支持特朗普的願景，以實現更好，更安全，更繁榮的美國。代幣用於資助特朗普連鎖產品的開發，例如特朗普錢包和特朗普交換。我們正在創建一個特朗普經濟帝國