Elon Musk, (c) Reuters
The richest man on the planet just skillfully mixed two concepts. And without putting any specific meaning into his post, nevertheless “rocked” the rate of cryptocurrency Dogecoin in the direction of sharp growth. “Only the fraud was stopped by DOGE and, even then, only some of the fraud,” Musk wrote on social network X. And hinted at successes, promising a “powerful effect” in the near future. Without specifying what exactly we are talking about.
The fact is that under the acronym DOGE, Musk promoted the concept of “Department of Government Efficiency” – an informal project to optimize government spending. U.S. President Donald Trump instructed the billionaire to engage in this project immediately after his inauguration. But due to disagreements between Trump and Musk, DOGE was suspended as early as November 2025.
At the same time, Ilon Musk is perceived by many as an active promoter of the Dogecoin cryptocurrency, the rate of which historically reacts to public statements of the businessman.
An ambiguous “ambassador”
Is it any wonder that Musk’s publication quickly gained millions of views and provoked polar reactions. Crypto-enthusiasts started discussing the possible growth of Dogecoin and publishing memes in the spirit of “to the moon”, counting on the repetition of previous price hikes.
Curiously, Ilon Musk is not the creator and is not part of the Dogecoin team. The cryptocurrency was launched in 2013 by developers Billy Marcus and Jackson Palmer as a joke project.
But it was Musk who became the main popularizer and driver of Dogecoin’s growth through his activities in DOGE. His tweets and X posts have repeatedly caused the price to spike – sometimes by tens of percent in hours.
At the same time, the billionaire has fueled this correlation in every way possible. He has become a kind of unofficial “ambassador” of Dogecoin, calling the coin “the people’s cryptocurrency” or “the best for payments” because of its low fees. Moreover, Musk’s companies, such as Tesla, accepted Dogecoin to pay for merch at certain times. This strengthened the legitimacy of the cryptocurrency.
Double meaning – double reaction
However, Musk’s next post about DOGE caused not only the enthusiasm of fans of this cryptocurrency, but also the anger of another part of users. They accused the businessman of manipulating attention and the market. In the comments there were reproaches in the vagueness of wording and an attempt to simultaneously promote a political agenda and influence crypto-assets. Some users ironized that “even Musk himself no longer distinguishes which DOGE he means”.
The context reinforces the effect: previous mentions of DOGE by the entrepreneur have repeatedly led to surges of interest in cryptocurrency, and his political initiatives have been controversially assessed by experts and the public.
