Elon Musk’s ‘Dogefather’ Post Fuels Triple-Digit Token Rally
Elon Musk, the CEO of Tesla and SpaceX, has stirred a significant increase in Dogefather-themed cryptocurrency tokens following his latest post on X (previously known as Twitter).
Musk's comments , especially those involving meme-based cryptocurrencies or his own nicknames, often provoke substantial attention due to his large social media following and notable influence within the cryptocurrency community.
In a recent post, Musk shared an image of himself holding a chainsaw with "The Dogefather" clearly displayed in the background.
"This is a real picture," read the accompanying caption.
The "Dogefather" nickname has long been associated with Musk in cryptocurrency circles, notably linked to his support of Dogecoin (DOGE). This moniker gained popularity following Musk's appearance on Saturday Night Live (SNL) in 2021, where he referred to himself as the "Dogefather."
Following the post, tokens associated with the Dogefather name experienced a significant upsurge. The Dogefather (DOGEFATHER) token, for instance, increased by 122%, reaching $0.0015, its peak price since January 2025.
Additionally, The DogeFather ( DOGEFATHER ) token rose by 137%, bringing its trading price to $0.0040. Several other similar tokens also witnessed price spikes, and new Dogefather-branded tokens, hastily launched, saw rapid value appreciation within hours.
This phenomenon is not unusual for Musk, whose previous social media activities have influenced market movements. His past username changes to "Kekius Maximus" and "Harry Bōlz" resulted in substantial token gains.
Similarly, in late January, DOGE experienced a surge when the US Department of Government Efficiency showcased its logo on its official site.
Notably, the image Musk shared was digitally altered. The original photo was captured at the Conservative Political Action Conference (CPAC) on February 20, 2025, where Musk appeared.
The BBC reports that Argentine President Javier Milei presented Musk with an ornate chainsaw as a symbolic gesture.
"This is the chainsaw for bureaucracy," Musk stated.
This gesture aligns with Musk's efforts at the Department of Government Efficiency (DOGE), where he works under the Donald Trump administration to streamline US government spending and reduce federal workforce numbers.
President Milei has previously used a chainsaw in public appearances in Argentina to represent similar goals of reducing governmental expenditure.
Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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