Tesla Chief and Dogecoin proponent Elon Musk offers a shout-out to the main meme coin on Christmas Day.
From common mentions to fee help for merchandise, the world’s richest man and Tesla CEO Elon Musk has lengthy established himself as a champion of the favored doggy-themed meme crypto Dogecoin (DOGE). As such, it’s no shock that the billionaire didn’t miss the possibility to shout out the favored crypto on Christmas day.
“Who Let the DOGE Out?”
Amid the Christmas festivities, Tesla CEO Elon Musk took day out to supply a Dogecoin point out with a play on the lyrics of Baha Males’s 2000 hit music “Who Let the Canines Out.”
“Who let the DOGE out?” Musk wrote, captioning a photograph of his canines Gatsby, Marvin, and Floki in Christmas-inspired costumes in an X put up on Wednesday, December 25.
🎶 Who let the DOGE out? 🎶 pic.twitter.com/1GR7Cih54R
— Elon Musk (@elonmusk) December 25, 2024
However Musk’s DOGE shout-out didn’t finish there as keen-eyed observers have been fast to level out that the cape on Floki, a canine that has additionally impressed a profitable meme coin of its personal, was adorned with Dogecoin logos.
Many DOGE proponents and avid Musk followers are hopeful that the billionaire’s newest present of help can have bullish implications for the meme coin’s worth. One observer identified that the final time the billionaire posted these phrases in reference to the meme coin, it went parabolic shortly after.
The put up in query got here up February 7, 2021. Moreover a right away worth surge on the day, DOGE kicked off a parabolic rally to all-time highs of $0.73 roughly two months after in a run many have attributed to Musk’s unrelenting help and affect.
There isn’t any clear indication that such a rally is imminent as DOGE trades 5% decrease on Thursday, December 26, at $0.3162. Over the previous month, nevertheless, analysts have continued to foretell larger costs for the asset, arguing that it’s replicating its worth motion from the 2017 and 2021 bull cycles.
Whereas most DOGE proponents are okay with Elon Musk’s help, the billionaire’s antics have beforehand attracted a category motion lawsuit bringing market manipulation claims. The lawsuit was dismissed with prejudice in August 2024.
