There isn't a shortage of eccentric billionaires in the world, but few can affect the stock market with a single tweet the way Elon Musk can. (The only other one who comes to mind was also President of the United States.) Musk's tweets have caused obscure stocks to soar. They had a measurable impact on the prices of cryptocurrencies. And no coin has benefited more from those bumps than Dogecoin.
While Musk's business decisions suggest that Bitcoin is the non-fiat currency that strikes his fancy, the SpaceX founder just can't stop tweeting and memeing about doge! Below, we've chronicled virtually every tweet Musk has posted about Dogecoin.
Dogecoin might be my fav cryptocurrency. It’s pretty cool.— Elon Musk (@elonmusk) April 2, 2019
This tweet seems to be the first time Musk discussed Dogecoin on Twitter. It was a response to a poll conducted by the coin's official Twitter, in which 49 percent of respondents thought Musk should be the CEO of Dogecoin.
At this point, most people thought Dogecoin was a silly meme and not an actual altcoin people were mining and investing in. Within days of the tweet, the price of the coin had doubled. Don't be too impressed, though; it went from being worth $0.002 to $0.004.
Musk seemed to tweet about DOGE as sort of a joke, like his response to this parody article from The Onion disparaging the validity of Bitcoin. And then for more than a year, Musk didn't have much to say about Doge.
Dogecoin Mode— Elon Musk (@elonmusk) April 25, 2020
His interest in dogecoin resurfaced in April 2020, but merely as a play on words in response to a fan's tweet about whether the Cybertruck would have the "dog mode" feature in other Tesla models (which keeps the car climate controlled and has a screen notifying passersby there's no need to worry.
Excuse me, I only sell Doge!— Elon Musk (@elonmusk) July 18, 2020
And again in July 2020, when a Twitter user asked the billionaire for some bitcoin. Considering the exchange rate of bitcoin to doge, he'd have to be "hodling" a lot of DOGE to satisfy that guy's request.
One word: Doge— Elon Musk (@elonmusk) December 20, 2020
Amid the COVID-19 pandemic, cryptocurrency has been having a real volatile moment. The turning point for Dogecoin was in December 2020. And it was all because of this tweet that suddenly had speculators wondering, "wait, is dogecoin a good investment?"
Doge— Elon Musk (@elonmusk) February 4, 2021
And in 2021, it just seems like Musk can't keep the name of this coin out of his mouth. At this point, we're pretty sure his son X Æ A-12's first word was probably "doge."
No highs, no lows, only Doge— Elon Musk (@elonmusk) February 4, 2021
Dogecoin is the people’s crypto— Elon Musk (@elonmusk) February 4, 2021
🎶 Who let the Doge out 🎶— Elon Musk (@elonmusk) February 7, 2021
But all joking aside, Musk's comments about Dogecoin seemed to get more serious in February.
Doge appears to be inflationary, but is not meaningfully so (fixed # of coins per unit time), whereas BTC is arguably deflationary to a fault.— Elon Musk (@elonmusk) February 8, 2021
Transaction speed of Doge should ideally be a few orders of magnitude faster.
The day Musk tweeted this, DOGE hit its lifetime peak (at least as of this writing). The coin was worth nearly $0.08 on February 9, 2021.
Bought some Dogecoin for lil X, so he can be a toddler hodler— Elon Musk (@elonmusk) February 10, 2021
I guess if you want to teach your kid about blockchain, you can certainly get a lot of bang for your buck with DOGE.
Doge is underestimated— Elon Musk (@elonmusk) February 11, 2021
Now that we know that Musk has a vested interest in dogecoin, however, it's hard not to see each tweet as deliberate pumping.
I will literally pay actual $ if they just void their accounts— Elon Musk (@elonmusk) February 15, 2021
We're sure Musk's DMs were exploding with respondents to this offer.
I just set up some little Doge mining rigs with my kids. It was fun.— Elon Musk (@elonmusk) February 20, 2021
In all seriousness, considering the one-minute block time, Doge is probably a great training tool for baby miners.
Dojo 4 Doge— Elon Musk (@elonmusk) February 21, 2021
2022: Dogecoin is dumb— Elon Musk (@elonmusk) March 2, 2021
I guess the point here is that nobody took Bitcoin or Ethereum seriously a few years ago and yet they grow more legitimate by the day — perhaps one day, Dogecoin will hit $1 after all.
Doge spelled backwards is Egod— Elon Musk (@elonmusk) March 6, 2021
Origin of Doge Day Afternoon:— Elon Musk (@elonmusk) March 13, 2021
The ancient Romans sacrificed a Dogecoin at the beginning of the Doge Days to appease the rage of Sirius, believing that the star was the cause of the hot, sultry weather.
420M Doge— Elon Musk (@elonmusk) March 15, 2021
Sometimes it’s about Doge— Elon Musk (@elonmusk) March 18, 2021
Although Musk acknowledges that his tweets are mostly for the love of the meme, he seems to be conceding that he's potentially bullish about dogecoin.
SpaceX is going to put a literal Dogecoin on the literal moon— Elon Musk (@elonmusk) April 1, 2021
Or maybe it's all just been a big buildup for an April Fools' joke.