Musk apologizes for remarks attacking Trump, DOGE responds with a pump

Recently, tech giant Elon Musk expressed regret for his previous comments on social media. He admitted that some of his remarks regarding Trump last week were indeed a bit excessive and feels remorse for it.

This turmoil originated from the public dispute between Musk and Trump that lasted for nearly a week. The incident started when Musk made some controversial remarks about Trump, including implying that Trump had connections to certain sensitive documents and claiming that without his own support, Trump would not be able to win re-election. These remarks were subsequently deleted by Musk.

The situation has escalated rapidly. After a series of intense exchanges of words, Trump warned Musk in an interview that if he supports the opposing camp in the upcoming election, he will face serious consequences. Trump stated: "If he does this, he will pay a price, a very serious consequence." He also hinted that the relationship between the two may have completely broken down.

In response, the Vice President attempted to ease tensions in a podcast. He described Musk as an "emotional person" who loses control due to frustration, but his tone was relatively forgiving.

Behind this dispute, reports suggest it may be related to a new legislative proposal. Musk has expressed opposition to the proposal, believing it ignores the policies he supports. The White House has countered that Musk's dissatisfaction stems from the bill not including the content he desires.

This series of events not only sparked a political storm but also affected the cryptocurrency market. With Musk's apology statement, the price of DOGE quickly rose by about 6%. It increased from $0.1909 to around $0.2031, with a total market cap reaching $30.39 billion and a 24-hour trading volume surging to $1.57 billion.

However, market analysts point out that this price rise seems to lack the participation of small individual investors, which is different from the past rise patterns of DOGE. Trading volume data suggests that the market may be in a consolidation phase, while the high trading characteristics that usually represent retail investor enthusiasm are not evident. This has sparked speculation about the identity of the driving force behind the scenes.

As the situation develops, investors are closely watching the potential impact of the turmoil on Musk's companies, especially those that have benefited from government policies in the past. Market participants are waiting for further developments to assess the possible long-term effects.