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), turned widespread after his 2021 Saturday Night time Dwell look.
Following the publish, a number of tokens with the Dogefather identify noticed large value jumps. The Dogefather (DOGEFATHER) token surged 122% to $0.0015, its highest value since January 2025. One other token, The DogeFather (DOGEFATHER), climbed 137% to $0.0040. New Dogefather-themed tokens additionally emerged, shortly gaining worth.
Musk’s posts typically set off market reactions. Tokens related together with his social media personas, reminiscent of “Kekius Maximus” and “Harry Bōlz,” noticed large good points beforehand. DOGE additionally spiked in January after a authorities web site featured its brand.
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 present on the occasion.
Milei, identified for utilizing a chainsaw in Argentina to characterize finances cuts, made the gesture to honor Musk’s function in decreasing authorities spending underneath Donald Trump’s administration.
Regardless of the edited picture, Musk’s affect on crypto stays as robust as ever.
