Musk shared an image of himself standing in entrance of a chainsaw, with “The Dogefather” within the background. The nickname, tied to his help for Dogecoin (DOGE), turned fashionable after his 2021 Saturday Evening Dwell look.
Following the publish, a number of tokens with the Dogefather title noticed enormous 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, comparable to “Kekius Maximus” and “Harry Bōlz,” noticed enormous beneficial properties 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 reward on the occasion.
Milei, identified for utilizing a chainsaw in Argentina to signify 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 robust as ever.