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）周五大跌眼镜，因为唐纳德·特朗普总统和特斯拉公司（纳斯达克股票代码：TSLA）首席执行官埃隆·马斯克（Elon Musk）威胁要取消数十亿美元的政府合同和马斯克公司补贴。

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.

发生了什么：Dogecoin Doge/USD的交易价格为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.

总加密市值下降了3.77％，至3.18万亿美元。

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."

当特朗普和马斯克在社交媒体上进行激烈的交流时，市场动荡发生了。特斯拉首席执行官批评了特朗普的支出法案，他将其描述为“庞大，令人发指，充满猪肉的国会憎恶”。

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

作为回应，特朗普威胁要终止马斯克公司的政府合同和补贴。

"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.

特朗普在真相社会上写道：“我将终止愚蠢的补贴和合同的补贴和合同，并由他的公司付款并收集到他的公司，以便在中国生产产品，并在美国出售它们，我将解雇美联储的董事长杰罗姆·鲍威尔（Jerome Powell），特朗普任命的特朗普任命，是一个完全的疯子。”

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的身份移动，证明了政治戏剧可以转移市场的速度，尤其是与具有强大叙事驱动社区的加密货币相关联时。随着#Crypto市场的成熟，我们看到它们对现实世界的政治头条更加敏感，而这一最新一集是动态动态的一个典型例子。

— 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."

总统宣布了一项新的经济法案的计划，他将其描述为“大，美丽且相对毫无痛苦，就像一个小削减的创可贴。”

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，特朗普没有透露有关该法案内容的任何具体细节，或者与他先前提出的4.6万亿美元支出措施有何不同，并于2021年11月获得了两党支持的国会通过。

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.

特斯拉的股价在特朗普威胁后周四跌倒了14.3％，但恢复了5.02％，周五的前市场交易的交易价格为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.

马斯克在公众对抗升级前几天就辞去了政府效率部高级顾问的职务。

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

亿万富翁于2月加入了政府，重点是为政府提供提高效率和降低赤字的建议。

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.

他参与拜登政府激发了人们对政策向加密货币的潜在转变的兴趣，有些人预计民主党总统会有更有利的立场。

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.

为什么要这么重要：Dogecoin的支持者指出了马斯克在代币的价格飙升以及他集会加密社区的能力中的作用。

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

今年早些时候，当特朗普宣布竞选2024年总统职位时，这是前总统命名的代币。

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月创建的以太坊区块链上的可编程令牌。代币的股票符号是特朗普，其旨在成为一种治理令牌，允许用户对特朗普链的提案进行投票。

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，令牌的价格飙升至1,000美元以上，但此后已撤回到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."

令牌网站将其描述为“特朗普连锁店的官方特朗普代币，这是一个新的区块链，旨在支持特朗普对更好，更安全，更繁荣的美国的愿景。”

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

代币还用于资助特朗普连锁产品的开发，例如特朗普钱包和特朗普交换。

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

该网站说：“我们正在创建一个特朗普经济帝国，一次是一个象征。”

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众人物命名的更广泛趋势的一部分。例如，还有以拜登，奥巴马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.

这些代币通常是由政客的粉丝或作为政治声明的一种方式创建的。代币可用于对特朗普连锁店的建议进行投票，也将分发给特朗普政治运动的支持者。

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

特朗普令牌是一个治理令牌，它将允许用户对特朗普连锁店的提案进行投票，这是一个新的区块链，旨在支持特朗普的愿景，以实现更好，更安全，更繁荣的美国。代币用于资助特朗普连锁产品的开发，例如特朗普钱包和特朗普交换。我们正在创建一个特朗普经济帝国