Elon Musk, CEO of Tesla and SpaceX, has sparked a dramatic surge in Dogefather-themed tokens together with his newest put up on X (previously Twitter).
Musk’s posts, notably these mentioning meme cash or his nicknames, often spark appreciable consideration on social media, owing to his intensive following and powerful affect inside the crypto neighborhood.
Musk Triggers Dogefather Value Rally
Musk posted a picture of himself on X, holding a chainsaw with the textual content “The Dogefather” prominently displayed within the background.
“It is a actual image,” the caption learn.
The time period “Dogefather” is a long-standing nickname for Musk within the cryptocurrency neighborhood. It’s a playful reference to his reference to Dogecoin (DOGE). This nickname gained traction when Musk appeared on Saturday Night time Dwell (SNL) in 2021, the place he referred to himself because the “Dogefather.”
Following Musk’s newest put up, a number of tokens branded with the Dogefather title skilled an explosive rally. The Dogefather (DOGEFATHER) token surged by 122%. At press time, it traded at $0.0015, marking its highest value since late January 2025.
Dogefather Tokens Value Efficiency. Supply: GeckoTerminal
Moreover, The DogeFather (DOGEFATHER) additionally rose by triple digits. Its 137% rise pushed its buying and selling value to $0.0040. The rally didn’t cease there. A number of different equally themed tokens additionally noticed value spikes. Furthermore, opportunistic builders even launched new Dogefather-named tokens that skyrocketed in worth inside hours of their creation.
In the meantime, this isn’t the primary time Musk’s social media exercise has moved markets. Beforehand, when he modified his username to “Kekius Maximus” and “Harry Bōlz,” the related tokens noticed large good points.
Likewise, in late January, DOGE noticed a notable surge after the US Division of Authorities Effectivity prominently displayed the meme coin’s emblem on its official homepage.
President Milei Presents Chainsaw to Musk
Regardless of the value affect, it’s vital to notice that the picture in query was, in truth, digitally altered. The unique image was from the Conservative Political Motion Convention (CPAC) on February 20, 2025, the place Musk made an look.
In keeping with studies from the BBC, the true occasion featured Argentine President Javier Milei presenting Musk with an ornate chainsaw as a symbolic gesture.
“That is the chainsaw for forms,” Musk mentioned.
This gesture is claimed to be linked to Musk’s work with the Division of Authorities Effectivity (DOGE), a task he holds below the Donald Trump administration. Musk has been working to chop US authorities spending and cut back the federal workforce.
Beforehand, Milei has usually used a chainsaw as a prop in public appearances in Argentina to represent his discount of presidency expenditures.
