MASK Token Plunges Amid Trump-Musk Feud
MASK Token Plunges Amid Trump-Musk Feud
The very public dispute between Donald Trump and Elon Musk has unexpectedly impacted the cryptocurrency market, with Mask Network's (MASK) token experiencing a significant price drop.
The once-strong association between the two figures, which fueled interest in politically-aligned meme coins, has seemingly reversed. The recent recriminations and threats exchanged between them appear to have triggered a sell-off among retail traders, severely impacting MASK.
Trump-Musk Fallout Impacts MASK Price
Mask Network (MASK) is among the tokens most affected by the Trump-Musk fallout. As their public rift intensified, MASK token holders initiated a significant sell-off.
Following a month-long rally, MASK's price began declining earlier in the week, coinciding with the public breakdown of the Trump-Musk relationship. On June 5th, when tensions peaked, MASK reached $0.02853. By the next day, it had fallen 45% to $0.01560.
One trader, @Elizabethofyou, commented on the rapid decline, stating, "This MASK crash was caught by my short again...In half a day, it dropped from 2.9 to 1.8, a 30% fall."
Analysts attribute the market downturn to decreased retail interest. At the time of writing, MASK was trading at $1.86, representing a 33.7% drop in the last 24 hours (according to CoinGecko).
MASK wasn't alone; other politically-themed tokens also suffered. Kill Big Beautiful Bill (KBBB) dropped 67%, while MUSK (Official Musk) crashed nearly 90% (data from GeckoTerminal). Even AP (American Party) is down 80%.
Sentiment Collapse Following Political Meme Coin Meltdown
The price drop for MASK is largely attributed to the drying up of meme-fueled speculation after the Trump-Musk rift, rather than any underlying issues with the project itself.
Analyst @TheDefiApe noted MASK's strong GeckoTerminal score (97), indicating strong on-chain fundamentals and a relatively clean token distribution. However, this hasn't prevented panic selling driven by the shift in political sentiment.
Data from various token trackers shows a widespread exodus of retail investment from politically themed tokens.
The Future of MASK
Originally designed to integrate Web3 functionality into traditional social networks, MASK is now caught in a narrative beyond its control. Although not explicitly tied to Trump or Musk, retail traders perceive it as guilty by association.
This situation highlights how the Trump-Musk drama overshadows genuine DeFi innovation, focusing instead on personal conflicts. The volatility is likely to persist unless MASK pivots back to its core utility or sheds the speculative investment.
Despite the current downturn, some traders remain optimistic about MASK, citing its strong fundamentals and historical price patterns. At press time, MASK was trading within a demand zone between $0.01786 and $0.01447, suggesting a potential price bounce.
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