Elon Musk Calls DOGE On X, Dogecoin Price Doesn't React

Elon Musk calls DOGE in X (Photo; Doc. Teknosiana)

JAKARTA - Any statement from a well-known figure can usually trigger crypto price movements. However, this time, a joke from Tesla CEO Elon Musk about Dogecoin did not have a big impact as usual.

In a conversation with former US President Donald Trump, Musk is back in the spotlight. Although Musk's jokes often affect the crypto market, this time, the impact is insignificant.

The statement came after Trump, in an interview, stated that he was considering offering Musk a position in government if he was re-elected president. "He's a very intelligent person," Trump said. I would definitely offer if he wanted, he's really a brilliant person.

Musk, known as a loyal supporter of Dogecoin, responded to Trump's remarks with jokes on social media X (previously known as Twitter). An X user with the name Sir Doge of the Coin joked that Musk should be appointed head of Government Efficiency Department, or abbreviated as DOG.E. Musk responded by calling it a perfect name and sharing his AI image on the podium with the initials DOGE in front of him. He added a statement I am ready to serve

However, unlike before, Musk's joke this time did not move the Dogecoin market significantly. The price of Dogecoin has only risen by about 5% in the last 24 hours, much smaller than previous price spikes triggered by Musk's tweets or actions.

For example, in October 2022, the price of Dogecoin jumped more than 70% after Musk completed Twitter's acquisition. In addition, in April 2023, the change in the X logo to Kabosu image, the Shiba Inu dog that became the Dogecoin icon, raised the price of Dogecoin by more than 30%.

On the other hand, Trump, who now places himself as a crypto supporter, continues to strengthen his involvement in the world, despite being skeptical. Recently, he gave a speech at the Bitcoin Conference in Nashville and is preparing to launch his fourth NFT collection. In fact, Trump's sons are reportedly working on a new crypto project, although details about the project are still minimal.

With this interesting interaction between these two influential figures, the crypto community continues to pay attention to their steps, although this time the impact on the market is not as big as expected.