Dogecoin Rebounds as Elon Musk Apologizes for Trump Feud

Dogecoin, the popular cryptocurrency often influenced by Elon Musk's actions, experienced a notable rebound on Wednesday. This uptick followed Musk's public apology regarding his recent dispute with President Donald Trump.

Early Wednesday morning, Musk took to X (formerly Twitter) to express regret over his previous comments about President Trump. He stated, "I regret some of my posts about President @realDonaldTrump last week. They went too far."

In the minutes following Musk's apology, Dogecoin's value surged by 3%, climbing from 19 cents to over 20 cents, as reported by Binance. Although the currency has slightly retracted since then, it remains up by 2%. In contrast, Bitcoin has seen a marginal increase of less than 0.1% during the same period.

This recovery comes after Dogecoin's 11% decline to 17 cents the previous week, coinciding with the public feud between Musk and Trump. The disagreement began when Musk criticized the president's spending bill, labeling it "pork-filled" and a "disgusting abomination" in a June 3 post on X.

President Trump responded on June 5 via Truth Social, suggesting that reducing government spending could start by "terminating Elon’s governmental subsidies and contracts."

In a now-deleted post, Musk retaliated by announcing that his aerospace company, SpaceX, would "immediately decommission" its Dragon spacecraft, which transports crew to and from the International Space Station. Although Musk later retracted this statement, the exchange of barbs between the two continued.

On the same day, Musk made an unsubstantiated claim on X, alleging that Trump was "in the Epstein files." This reference pertains to documents from the U.S. government's investigation into Jeffrey Epstein, which purportedly list his high-profile associates. Musk did not provide evidence to support his claim.

Trump countered by sharing a statement from Epstein's former defense attorney, David Shoen, who denied that Epstein had any information that could harm the president. Shoen wrote on X, "I can say authoritatively, unequivocally, and definitively that he has no information to hurt President Trump."

Historically, Musk's public statements have significantly impacted Dogecoin's market performance. The Tesla founder has frequently expressed his support for the cryptocurrency, even dubbing himself the "Dogefather" during a 2021 appearance on Saturday Night Live.

The recent feud also affected Musk's other ventures. Tesla's share price dropped approximately 17.3% during the conflict. Although it has since rebounded, it remains below its previous levels.

As of January 20, 2026, Dogecoin is trading at $0.1236, reflecting a slight decrease of 0.0456% from the previous close. Tesla's stock is currently priced at $419.25, down 4.174% from the previous close.

The interplay between Musk's public statements and the performance of assets like Dogecoin and Tesla underscores the significant influence that high-profile individuals can have on financial markets.