Bitrabo Editorial
Elon Musk’s recent social media activity has once again caught the attention of the Dogecoin (DOGE) community. In a post shared today, the billionaire depicted himself in an AI-generated image as an executive in a fictitious “Department of Government Efficiency,” cleverly abbreviated as D.O.G.E. His message “I am willing to serve” not only showcased his humorous side but also led to a 5% increase in Dogecoin’s price to $0.105, reigniting interest in the cryptocurrency.
Musk Shows Affection for Dogecoin Memes
Musk’s return to discussing Dogecoin publicly after a period of silence has injected fresh enthusiasm among investors and fans who consider him a significant supporter of the meme-based digital asset. The post was a response to a popular community member’s suggestion that Musk should lead the “Department of Government Efficiency,” or D.O.G.E, to which Musk humorously agreed.
I am willing to serve pic.com/BJhGbcA2e0
— Elon Musk (@elonmusk) August 20, 2024
While the overall cryptocurrency market has been on an upwards trajectory, Musk’s specific mention of Dogecoin generated immediate excitement, leading to a price uptick. Though the increase was notable, it was relatively modest compared to past instances where Musk’s tweets had a more significant impact on the market.
Musk’s Potential Government Role Under Trump
Musk’s post follows a recent interview with US presidential candidate Donald Trump, where the topic of government efficiency arose. In the wake of Musk’s acquisition of Twitter, he downsized the company, leading to a significant reduction in staff numbers.
Additionally, controversy arose when Trump mentioned in a Reuters interview that he would offer Musk a government position if he were to be reelected. Trump praised Musk’s intelligence and indicated his willingness to have him serve in his administration.
Both Musk and Trump hold sway in the Bitcoin and crypto spheres. While Trump has proposed establishing a national Bitcoin reserve and made promises regarding the SEC and crypto-related pardons, Musk is known for his affinity towards Dogecoin.
Interestingly, during a recent campaign event, Trump reiterated his support for cryptocurrencies, emphasizing the importance of staying ahead in the field to prevent other countries, like China, from taking the lead.
As of now, DOGE is trading at $0.10506.
