Elon Musk Tweets and His Favorite Cryptocurrency Pumps, Again!

Published by

When Elon Musk, one of the greatest tech entrepreneur and innovators of all time tweets about something, it is sure to turn some heads. However, his tweets cannot be trusted because of his popularity for trolling on social media. That includes remarks on Tesla Stock index which has a market capitalization of $278.21 Billion.

In the past, he has called himself the CEO of the Dogecoin. Today,  he tweeted this,

For all intents and purposes, it is purely a meme. It likely bears no relevance to his beliefs about Bitcoin or over other cryptocurrencies at large. For all we know, Musk owns a very small amount of Bitcoin.

Nevertheless, his Dogecoin tweets are devilish trolling on the crypto community. This is because Dogecoin is a troll itself, but is very much real.

The Epic Troll

The creators of the cryptocurrency wanted to create a joke on the rise of the numerous altcoins mimicking Bitcoin. The logo itself comes from the popular ‘quizzical Shiba Inu’ meme popular back in the days.

After its initial days of trolling and charitable work led by the founders, Dogecoin, like the rest of crypto, was getting exploited. It was being used by scammers and trading whales to cause a pump-and-dump on the market. During such a time, it’s co-creator Billy Markus wrote.

“Dogecoin is meant to be a fun cryptocurrency, one that encourages people to tip and to learn and teach this technology. It also, like every cryptocurrency, can have a maddeningly capricious nature. The novelty will not last forever, but if you want the community to last, that is where you come in,”

Recently, Tiktokers attempted to cause an astronomical pump in $DOGE. However, it trend only lasted for a couple of days, nonetheless, yielding around 150%. The mining of Dogecoin is easy as well but hardly yields any profit. The participation in Dogecoin is voluntary and the creators would love to see it doing good to the community.

Nevertheless, such pumps spread awareness about the cryptocurrency to new people and also engages more ‘hodlers’ and traders looking to gain from the market moves in the short or long-term. Just this morning, Elon’s tweet caused a 20% rise in its price.

What do you think it says about the crypto markets, vulnerability or longevity? Please share your views with us. 

Advertisement

Share
Nivesh Rustgi

Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on X at @nivishoes or mail him at nivesh(at)coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Gold Vs Bitcoin – Peter Schiff Predicts BTC Will Be ‘Rugged by Gold’

The long-running rivalry between gold and Bitcoin has resurfaced. Economist and gold advocate Peter Schiff…

October 8, 2025
  • 24/7 Cryptocurrency News

CEA Industries’ BNB Holdings Reach 480K as Binance Coin Hits New ATH of $1,300

BNB has surged to a record $1,300, overtaking XRP in market value, as CEA Industries…

October 7, 2025
  • 24/7 Cryptocurrency News

Peter Brandt Predicts XRP Could Drop to $2.2 If This Happens

Veteran trader Peter Brandt has dropped another XRP analysis, in which he revealed what could…

October 7, 2025
  • 24/7 Cryptocurrency News

Fed’s Stephen Miran Says He’s ‘Sanguine’ on Inflation Outlook as He Backs More Rate Cuts

Federal Reserve Governor Stephen Miran has again suggested that he isn't worried about the inflation…

October 7, 2025
  • 24/7 Cryptocurrency News

S&P Launches Crypto 50 Index But There’s A Catch

S&P Dow Jones Indices has introduced a new crypto index called the S&P Digital Markets…

October 7, 2025
  • 24/7 Cryptocurrency News

NYSE Owner ICE to Invest $2B in Polymarket as Interest in Prediction Markets Heats Up

Crypto predictions platform Polymarket has secured a strategic investment from New York Stock Exchange (NYSE)…

October 7, 2025