Musk shared an image of himself standing in entrance of a chainsaw, with “The Dogefather” within the background. The nickname, tied to his assist for Dogecoin (DOGE), grew to become in style after his 2021 Saturday Evening Reside look.
Following the publish, a number of tokens with the Dogefather identify noticed large worth jumps. The Dogefather (DOGEFATHER) token surged 122% to $0.0015, its highest worth since January 2025. One other token, The DogeFather (DOGEFATHER), climbed 137% to $0.0040. New Dogefather-themed tokens additionally emerged, rapidly gaining worth.
Musk’s posts typically set off market reactions. Tokens related along with his social media personas, corresponding to “Kekius Maximus” and “Harry Bōlz,” noticed large positive factors beforehand. DOGE additionally spiked in January after a authorities web site featured its emblem.
However the picture Musk posted was false. The image that was initially taken occurred on the Conservative Political Motion Convention (CPAC) on February 20, 2025. Argentine President Javier Milei had given Musk an elaborate chainsaw as a symbolic reward on the occasion.
Milei, recognized for utilizing a chainsaw in Argentina to symbolize price range cuts, made the gesture to honor Musk’s position in lowering authorities spending beneath Donald Trump’s administration.
Regardless of the edited picture, Musk’s affect on crypto stays as sturdy as ever.
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