Elon Musk's Tweet Causes Baby Dogecoin to Soar in Hours
Baby Dogecoin (BABYDOGE), a popular meme coin, experienced an impressive 63.95% surge in value. This dramatic price increase coincided with a tweet from Elon Musk, a prominent figure in the cryptocurrency world. The Tesla CEO shared an image on Twitter, where he was pictured carrying his child on his shoulders, accompanied by the words “Dodgfather” and “Dodgson,” styled in the famous font from the movie The Godfather, directed by Francis Ford Coppola.
The tweet quickly went viral, sparking a wave of interest and speculation surrounding Baby Dogecoin. The price of the token jumped from a low of $0.000000002530 at 4:08 AM, just 48 minutes before Musk’s tweet, to a high of $0.000000004148 just five hours later.
This price spike happened as Bitcoin also hit a historic milestone, surpassing $103,900. Musk’s tweets have a well-documented history of influencing cryptocurrency prices. Back in 2021, a series of tweets from Musk about Dogecoin led to the price of the meme coin surging by over 800% in a matter of weeks.
Baby Dogecoin: More Than Just a Meme
Originally created as a fun offshoot of the Dogecoin community, Baby Dogecoin (BABYDOGE) aimed to raise awareness for animal adoption and support dog-related causes. The strength of Baby Dogecoin lies in its active community, which has grown significantly, with over 2.6 million followers on X (formerly Twitter), 658,000 on Instagram, and around $2.5 billion in tokens held on Binance's platform. The community is highly engaged, contributing ideas for the project and participating in charitable initiatives.
According to the project’s website, Baby Dogecoin’s management has donated around $1.4 million to animal adoption organizations and other charities supporting animal welfare.
With Musk’s tweet reigniting interest in Baby Dogecoin, the meme coin continues to captivate both its community and the broader cryptocurrency market.
