The Elon Musk meme phenomenon sparks controversy and fuels interest in Dogecoin

The crypto community has once again found itself in the spotlight following posts related to memes by tech entrepreneur Elon Musk on his platform X. His followers, surpassing any other account on the social network, respond enthusiastically every time the magnate shares content related to memes and cryptocurrencies, especially concerning the meme coin Dogecoin.

The viral “meme alert” that lit up the networks

Tesla’s founder recently shared an image of aliens arriving on Earth with a peculiar message: “Citizens of Earth, give them your memes.” This post sparked a cascade of responses from users who shared their own creations, many focused on DOGE. The virality of the content once again demonstrated the reach and influence Musk wields over the digital community and cryptocurrency enthusiasts.

Musk resumes his role as “DogeFather”

Just three days ago, the entrepreneur revived a 2021 meme comparing himself to the main character of a classic crime novel. This time, he posted a photo of himself in formal attire with a bow tie, again referencing his connection to Dogecoin and his role as a promoter of the cryptocurrency. This tweet amassed impressive figures: 772,000 positive interactions, 13,000 bookmarks, 63,000 retweets, and 18,000 comments.

Historically, this kind of public support has had a significant impact. In April 2021, after appearing on a popular TV show and launching similar content, Dogecoin reached an all-time high of $0.70. Analysts suggest that this time, the magnate might be indirectly referencing his new government project focused on fiscal efficiency.

Market response to the movement

Dogecoin has shown considerable volatility this week, with fluctuations reflecting renewed community interest. The current price of DOGE is around $0.14, while Bitcoin maintains a position of strength at approximately $91.83K, reflecting the relative stability of the crypto market despite speculative fluctuations caused by viral events.

Musk’s ability to influence the crypto narrative through meme content continues to be a topic of debate in the industry. His posts generate cycles of speculation and community engagement that go beyond mere humor, affecting real market dynamics and public perception of digital assets.