Elon Musk, the Tesla CEO (TSLA) and long-time supporter of Dogecoin (DOGE-USD), made a Christmas Day statement that got crypto fans talking.
Tesla (TSLA) CEO Elon Musk, a well-known backer of Dogecoin (DOGE-USD), made a Christmas Day statement that caught the attention of crypto fans.
"Who let the DOGE out?" Musk posted on X, accompanied by a photo of his dogs Gatsby, Marvin, and Floki decked out in festive attire.
The playful nod to Baha Men's hit song "Who Let the Dogs Out?" served as more than just a holiday greeting—it sparked hope among DOGE fans.
Musk's unwavering support for Dogecoin has typically resulted in price surges, leading fans to anticipate a potential rally from his latest mention. One observer noted that a similar tweet from February 2021 triggered a massive price spike, ultimately reaching a high of $0.73. While there's no immediate indication that DOGE will mirror that performance this time around, analysts remain optimistic, especially considering that DOGE's current movements resemble those of previous bull cycles in 2017 and 2021.
According to The Crypto Basic, some investors are still hopeful that Musk's endorsement could push Dogecoin higher, despite the coin's recent 5% dip.
At the time of writing, Dogecoin is valued at $0.3129.
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