🐕 Elon Musk & Dogecoin: A Rollercoaster of Influence

1. Musk’s Crypto-Fueled Commands

Elon Musk has long been a driving force behind Dogecoin’s volatility. From his first “One Word: Doge” tweet in December 2020—triggering a ~20% jump—to appearances like *Saturday Night Live* in May 2021 causing price swings over 30%, his messages regularly move DOGE’s value .

2. Twitter/X Experiments

Under Musk’s ownership, Twitter briefly sported the Doge meme as its logo in April–May 2023—again driving DOGE’s price higher . More recently, although X Money Account launched in early 2025, it notably didn’t support cryptocurrencies like DOGE .

3. DOGE – Government Efficiency

Musk co‑founded the Trump-era “Department of Government Efficiency (DOGE)” in late 2024, until its projected sunset in mid‑2026 . This unusual alignment of crypto and policy sparked mixed reactions—from applause to criticism of budget cuts, lawsuits, and internal PACEC concerns .

4. The Waning Effect

Despite his earlier influence, Musk’s grip on DOGE seems to be loosening. Data shows DOGE now trends more in sync with Bitcoin than Musk’s pronouncements. A June 2025 CoinGecko study highlighted weakening ties between DOGE and Musk, causing price sluggishness .

5. Whales & Market Sentiment

Still, DOGE enjoys large “whale” activity. A recent surge in early July followed Musk’s launch of the “America Party,” with whales buying in despite global market uncertainty.

6. Branding vs. Backlash

Marketing expert Scott Galloway controversially called Musk’s involvement in Doge-branded government efforts “one of the greatest brand destructions,” citing backlash from core EV consumers .

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