Elon Musk, the influential CEO of Tesla and SpaceX, has once again made headlines in the cryptocurrency world by confirming his continued support for Dogecoin—a digital asset originally created as a joke but now firmly embedded in crypto culture. During a recent X (formerly Twitter) Space, Musk revealed he still owns a significant amount of Dogecoin and reaffirmed it as his favorite cryptocurrency.
This isn’t just another celebrity endorsement. Musk’s relationship with Dogecoin runs deep, shaping market sentiment and driving real-world interest over the past several years. His latest comments offer fresh insight into his personal crypto portfolio, his companies’ digital asset strategies, and the evolving influence of high-profile figures in decentralized finance.
Musk’s Ongoing Commitment to Dogecoin
In a candid moment during an X Space hosted by Ark Invest founder Cathie Wood, Elon Musk confirmed he has not sold a single Dogecoin from his personal holdings.
"I own a lot of Dogecoin, and SpaceX owns a lot of Bitcoin."
This statement carries weight—not only because of Musk’s massive public following but also due to his track record of moving markets with a single tweet. While he didn’t disclose exact figures, the emphasis on still holding Dogecoin signals long-term conviction, especially at a time when many investors are reassessing their crypto positions.
Musk also clarified that while he personally favors Dogecoin, his aerospace company, SpaceX, holds Bitcoin—a nod to the latter’s status as digital gold and a more widely accepted store of value in corporate treasuries.
👉 Discover how top investors are positioning themselves in today's crypto market.
Why Dogecoin Matters — Beyond the Meme
Dogecoin (DOGE) was launched in 2013 as a satirical take on the crypto boom, featuring the Shiba Inu dog from the “Doge” meme. But thanks in large part to Musk’s repeated endorsements, it evolved from a joke into a legitimate payment option and speculative asset.
Over the years, Musk has referred to Dogecoin as “the people’s cryptocurrency,” praising its fast transaction speeds and low fees compared to other blockchains. He’s even suggested using it for small payments on X or for SpaceX-related ventures.
Despite its lighthearted origins, DOGE now ranks among the top 10 cryptocurrencies by market cap, with real-world use cases emerging across tipping systems, merchandise purchases, and even satellite mission funding.
But here’s the key takeaway: Musk’s support has been instrumental in transforming Dogecoin’s perception—from meme to mainstream.
The Broader Crypto Impact of Musk’s Statements
There was a time when a single tweet from Elon Musk could send Dogecoin soaring 20% or more. Those days may be fading.
While DOGE did experience a notable price increase following Musk’s recent comments, analysts note that broader market forces—such as the approval of spot Bitcoin ETFs in early 2025—played a larger role in提振 investor confidence across the board.
This suggests that Musk’s influence on crypto prices is maturing. Instead of acting as a sole catalyst, his statements now function more as reinforcing signals within a larger bullish trend.
Still, his ability to capture attention remains unmatched. When regulators like the U.S. Securities and Exchange Commission (SEC) faced backlash after their X account was compromised, Musk responded with characteristic humor—posting “LFGDogeToTheMoon” as a mock password.
It was a playful jab, yes—but also a clear message: his loyalty to Dogecoin hasn’t wavered.
How Musk’s Companies Are Embracing Cryptocurrency
Beyond personal holdings, Musk’s business empire reflects a strategic embrace of digital assets:
- Tesla: Publicly disclosed Bitcoin holdings in its balance sheet, accepting BTC for vehicle purchases briefly before pausing due to environmental concerns.
- SpaceX: Confirmed ownership of Bitcoin, potentially positioning itself for future space-based economic systems.
- X (formerly Twitter): Exploring blockchain-integrated features like crypto tipping and decentralized identity—potential gateways for Dogecoin integration.
These moves suggest Musk isn’t just speculating; he’s laying groundwork for a future where cryptocurrencies play functional roles in everyday transactions and interplanetary commerce.
👉 See how blockchain innovation is reshaping global finance—start exploring here.
Frequently Asked Questions (FAQ)
Q: Does Elon Musk still own Dogecoin?
Yes. In a recent X Space, Musk explicitly stated he still holds a large amount of Dogecoin and has not sold any. He called it his favorite cryptocurrency.
Q: Why does Elon Musk like Dogecoin?
Musk appreciates Dogecoin for its fast transaction times, low fees, and community-driven nature. He’s described it as “the people’s currency” and has advocated for its use in microtransactions and online payments.
Q: Is Dogecoin a good investment?
While Dogecoin has strong brand recognition and community support, it lacks some of the technical upgrades seen in newer blockchains. Investors should consider it highly speculative and diversify accordingly.
Q: Can Dogecoin reach $1 again?
Reaching $1 would require significant adoption, sustained demand, and favorable market conditions. While possible during bull cycles, it remains challenging without new utility drivers.
Q: What effect do Musk’s tweets have on Dogecoin now?
His influence has diminished compared to 2021–2022 levels. Today, DOGE price movements are more influenced by macro trends like ETF approvals and overall market sentiment than by individual tweets.
Q: Could Dogecoin be used on Mars?
Musk joked about using Bitcoin on Mars but acknowledged technical challenges like latency. While no formal plans exist, he hasn’t ruled out using cryptocurrencies like Dogecoin for off-world economies.
The Shifting Role of Influencers in Crypto Markets
Once dubbed “Crypto’s Biggest Influencer,” Musk exemplifies how celebrity voices can shape digital asset trajectories. However, as the market matures, investors are becoming more discerning.
Rather than reacting impulsively to tweets, traders now analyze fundamentals, regulatory developments, and on-chain data before making decisions. This shift marks a healthy evolution toward a more resilient and informed crypto ecosystem.
That said, when someone with Musk’s reach speaks, the market still listens—even if it doesn't always jump.
👉 Stay ahead of market shifts with real-time insights and secure trading tools.
Final Thoughts: Meme Coins With Momentum
Elon Musk’s reaffirmation of his Dogecoin holdings is more than nostalgia—it’s a signal that meme coins can evolve beyond viral hype into lasting financial instruments with cultural staying power.
As blockchain technology advances and adoption grows, assets like Dogecoin may find niches in micropayments, social finance, and decentralized platforms. Whether it becomes the currency of Mars remains to be seen—but on Earth, its legacy is already secure.
For investors, the lesson is clear: follow the tech, not just the tweets—but never underestimate the power of belief, community, and a well-timed Shiba Inu meme.
Core Keywords: Dogecoin, Elon Musk, cryptocurrency, Bitcoin, SpaceX, crypto investment, meme coin, blockchain