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The Official Musk price has surged 4,125% in the last 24 hours to trade at $0.00299 as of 7:41 a.m. EST on daily trading volume of $24.21 million.
The MUSK price surged against the backdrop of an Elon Musk-Trump feud on social media, which erupted after Elon Musk criticized Donald Trump’s “Big, Beautiful Bill” for increasing the national deficit.
After Musk said it’s a ”disgusting abomination,” Trump threatened to cut government contracts to Musk companies including Tesla and SpaceX.
Musk retaliated by alleging that Trump is mentioned in the unreleased files of the late sex offender Jeffrey Epstein. Epstein died by suicide while awaiting trial on charges of sex trafficking. Musk also said he’d decommission SpaceX’s Dragon spacecraft.
In light of the President’s statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately pic.twitter.com/NG9sijjkgW
— Elon Musk (@elonmusk) June 5, 2025
Their once-close alliance, built on Musk’s $250 million support for Trump’s 2024 presidential campaign, has now descended into acrimony as the two billionaires trade barbs on their social media platforms.
Official Musk token, created on June 5, took off today, hitting an all-time high of $0.00906. But after a 40X surge, can the MUSK price soar any higher?
Official Musk Price Falling Wedge Signals Potential 562% Surge
The 15-minute chart of MUSK/USD shows that the price action has been highly volatile over the past few hours since its creation. The chart shows MUSK sitting at $0.003052 after a 4,125% surge, followed by a 66% pullback to a key Fibonacci retracement level.
The Official Musk is trending inside a falling wedge pattern, with the price recently bouncing from the support around $0.001954 (the 0.786 Fib level) and headed toward upper wedge resistance near $0.005575 (the 0.382 Fib).
Falling wedges are usually bullish reversal patterns since they have a 62% chance of breaking out to the upside. Volume’s been spiking hard during the pumps since inception, showing big-time buying pressure.
Short-term, the MUSK price could take off after its recent cooling-off period, surging to that $0.005575 wedge resistance level. If it breaks through, the meme coin may soar higher to the $0.01453 target, which aligns with the 61.8% Fib extension level. This would be a 382% increase from the current level.
MUSKUSD Analysis Source: Tradingview
With the Trump-Musk war keeping the hype alive, another pump could be imminent. If MUSK price breaks past $0.01453 with solid volume, we could see it test the 127.2% Fib extension level at $0.02039, which would be a 562% move from here.
If this drama keeps escalating, MUSK might keep mooning.
Solaxy Presale Nears $45M With Less Than 10 Days Left
As the Official Musk price charges higher on the Trump-Musk war fuel, Solaxy (SOLX), a new Solana-based project, also has investors and influencers hyped.
With its presale surging past $44.8 million and with less than 10 days left, Solaxy is shaping up to be a game-changer for Solana’s ecosystem.
While Solana is known for being fast and cheap, it can slow down or even fail when things get busy. That’s where Solaxy steps in. It’s the first-ever Layer-2 built specifically for Solana, designed to tackle network congestion.
By processing transactions off-chain and bundling them for Solana’s mainnet, Solaxy keeps things running smoothly, slashing fees and boosting speed.
The Solaxy universe is expanding every day. 🪐🛸
44M Raised! 🔥 pic.twitter.com/yIRZinZAPR
— SOLAXY (@SOLAXYTOKEN) June 4, 2025
Solaxy also has a bridge connecting Solana to Ethereum, letting developers tap into Ethereum’s massive liquidity while keeping Solana’s low-cost, high-speed vibe. This cross-chain trick could be a big deal for DeFi, gaming, and NFT projects, blending the best of both worlds.
In addition, Solaxy’s Igniter Protocol lets SOLX holders create and launch their own tokens, a no-code tool that’s already turning heads. With the project’s presale blazing red-hot, whale investors are dropping millions into it.
That’s a key reason why a prominent crypto analyst on the 99Bitcoins YouTube channel, with over 723K subscribers, is calling it a potential 100x gem.
Investors can also stake SOLX tokens for a jaw-dropping 90% annual return.
Right now, you can grab SOLX tokens for just $0.001748 using ETH, USDT, BNB, or a bank card. But with less than 10 days left before the presale wraps up, time is running out.
Check out the Solaxy website to learn more.
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