Elon Musk first publicly endorsed Dogecoin in April 2019, tweeting 'Dogecoin might be my fav cryptocurrency. It's pretty cool.' This single tweet caused a brief 25% price spike, introducing what would become a defining pattern: Musk tweets → DOGE price moves. Through 2020, Musk made periodic DOGE references, calling himself 'The Dogefather.'
During 2021, Musk's influence on DOGE reached extraordinary levels. His posts drove double and triple-digit percentage moves within hours. When he appeared on Saturday Night Live in May 2021 and called DOGE 'a hustle,' the price crashed nearly 40% during the broadcast. His power to move markets in both directions became undeniable.
In January 2022, Tesla began accepting DOGE for merchandise purchases. Musk also announced SpaceX would fund a lunar satellite mission — DOGE-1 — entirely with DOGE. Tesla's Santa Monica Supercharger station accepted DOGE payments. These moves demonstrated Musk's genuine belief in DOGE as a functional payment currency.
Musk's 2022 acquisition of Twitter, rebranded as X, raised hopes of DOGE integration into the platform's payment system. X Money entered closed beta testing in March 2026 with a public launch expected in April. If DOGE becomes a native payment option for X's 600 million+ users, it would represent the most significant real-world adoption event in DOGE's history. Analysts note, however, that Musk's market-moving power is diminishing as traders have become more sophisticated.
