GuShiio.com Sentiment and capital flow are the core variables that determine prices.
Author: DA Labs| DA Capital
preface
Crypto has evolved from its earliest decentralized technological economy to a narrative economy in recent years.
Whether it is Musk’s tweet craze and the metaverse in 2021, to later spot ETFs and memes, or even Trump’s entry into the crypto market through politics and family brands in 2024 and 2025, these cases all show thatThe driving force of market prices comes from the right to speak, not technological progress.
In this driven market,Emotions and capital flows are the core variables that determine pricesTechnological innovation is only secondary.
This article compares the influence of Musk and Trump, and compares how Musk used his personal charm to promote DOGE and BTC in the last bull market, and how Trump used political influence and $TRUMP,$WLFI, etc. to promote the market in this bull market., further explore the operating model of the crypto narrative economy.
Transformation of narrative
▪️Last round (2020-2021): Musk’s DOGE narrative
Musk’s tweets dominate the mood of the crypto market in 2021. His narrative style is entertaining, emotional, and personal, and he relies heavily on Twitter to manipulate market psychology.
December 20, 2020: Musk publicly supports DOGE for the first time
He posted One word: Doge on Twitter, and DOGE quickly soared by 20%. Musk’s influence lies in his voice, not his technical background.
February 8, 2021: Tesla purchases $1.5 billion in Bitcoin
BTC exceeded $45,000, which the market regarded as a major signal for institutional adoption, triggering a new wave of bull market FOMO.
April 28, 2021: Musk announced that he will appear on Saturday Night Live (SNL)
He wrote on Twitter: The Dogefather, SNL May 8, the market expects him to bring positive benefits to DOGE, which soared more than 100% in a few days.
May 8, 2021: SNL Live, DOGE Crashes
Musk was asked on the show what DOGE was, and he responded with a smile: It’s a hustle (it’s a scam). The market panicked instantly. DOGE fell 30% directly from $0.74 and fell back below $0.20 in a few months.
May 12, 2021: Musk announced that Tesla will stop accepting BTC
Citing environmental concerns, market confidence collapsed and Bitcoin plunged from $58,000 to $30,000, marking a turning point in the bull market.
extended reading:”Beyond Musk: The Real Price Driver of Dogecoin?! Look at chip allocation and price impact once! Quickly grasp the key signals before price surges “
▪️ This Round (2024-2025): Trump’s Political + Business Narratives
Trump’s influence is different from Musk’s. His narrative style is politicized, policy-oriented, and family-branded, and guides the market through Truth Social and policy layout.
October 15, 2024: The Trump family launches World Liberty Financial (WLF)
Pre-sale of the token $WLFI started, and Trump announced on Truth Social: Make America Great Again and Link Cryptocurrency to the U.S. economy.
November 5, 2024: Trump is elected President of the United States
Republican policy shifted to support cryptocurrencies. The market expected ETF capital flows, deregulation, and legalization of Bitcoin mining. Bitcoin exceeded $100,000 on December 5.
January 18, 2025:$TRUMP token is officially launched
X platform data shows that an address was snapped up for US$1.09 million, and the price soared in a short period of time. The address made a profit of more than US$109 million, which also drove the overall primary market popularity at that time. Many people entered the market at the first time. Make a lot of money.
February 15, 2025:$TRUMP announces airdrop
$TRUMP will be issued to users who hold the Trump brand NFT, and the price will increase by 60% in the short term.
March 2, 2025: Trump announces strategic reserve cryptocurrency list
Truth Social announced that the United States will include BTC, ETH, XRP, SOL, and ADA in its strategic reserves, of which BTC and ETH are core assets, and the market will once again be FOMO.
Similarities: The speculative engine of narrative economics
Similarities between Musk and Trump’s crypto narratives
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The power of speech dominates: Musk relies on Twitter to create topics, while Trump uses speeches and Truth Social to shape his vision. Both of them use platforms to amplify their influence.
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The speculative craze is catalyzed: Musk has made Dogecoin the focus of retail carnival, while Trump has pushed up assets such as Bitcoin and $WLFI to attract an influx of funds.
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Technology comes second, emotion comes first: whether“Dog coins go to the moon”or“The Capital of Cryptocurrency”, these slogans have nothing to do with technical details, but stimulate market imagination through emotional language.
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Short-term risks: Musk’s enthusiasm will fade as the topic fades; Trump’s narrative may also face a crisis of confidence if policies are not implemented.
However, there are also obvious differences between the two. Musk’s influence is more concentrated on individual currencies and is a short-term speculative game; Trump embeds crypto into the political agenda in an attempt to influence the entire ecology, and his family’s business project WLF is more like a carefully planned long-term layout.
extended readingWhat is World Liberty Financial? Trump embarks on Web3 ? Keep buying altcoins!”
Conclusion: What will the next narrative be?
The future of the crypto market will depend on what the next dominant narrative is. If the Trump administration can truly implement the deregulation of Bitcoin, then BTC may further exceed $150,000.
If $TRUMP is just a game of speculation, it may follow the path of DOGE’s post-2021 collapse. Will this narrative feast, performed by Musk and Trump relay, eventually lead to real market change, or is it another bubble? nbsp; What do you think will be the next key factor in breaking or continuing this narrative?
This report is for information sharing only and the content does not constitute any form of investment advice or decision-making basis. The data, analysis and opinions cited in the article are based on the author’s research and public sources, and may be uncertain or subject to change at any time. Readers should make prudent investment judgments based on their own circumstances and risk tolerance. If further guidance is needed, it is recommended to seek professional advice.
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