Elon Musk Comments on Bitcoin and Dogecoin, but Prices Barely Move
Elon Musk jumped back into the money-and-energy discussion on X today, supporting both Bitcoin and Dogecoin.
He replied to a viral ZeroHedge post that compared artificial intelligence to a government-funded arms race, saying it could accelerate money printing. Musk wrote, “True. That is why Bitcoin is based on energy: you can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy.” This links Bitcoin’s value to real-world energy.
Shortly after, a Dogecoin account (@dogeofficialceo) noted that “Dogecoin is also based on energy.” Musk replied with a simple “????,” marking his first clear mention of DOGE in a while.
However, the market barely reacted. Dogecoin was around $0.196, falling along with other cryptocurrencies. Bitcoin dropped to about $111,000 and Ethereum fell below $4,000, showing that broader market trends limited any effect from Musk’s comments.
Musk’s DOGE mention comes as Dogecoin-related news circulates in Washington and Wall Street. Congressman Matt Gaetz shared a viral thread asking if DOGE could become a major utility token after being a meme. This relates to news that the House of Doge plans to go public on Nasdaq through a merger with Brag House Holdings, under the ticker TBH. They also connect to CleanCore Solutions (NYSE American: ZONE), which now holds over 730 million DOGE and aims for up to 1 billion in the near term. In the long run, they could control “up to 5%” of DOGE’s circulating supply.
Why Didn’t Dogecoin Price Rise?
Musk’s Dogecoin posts have often caused quick but short-lived price jumps. For example, in late 2024, one tweet referencing payments briefly boosted DOGE, and in June 2025, it jumped 3% after Musk calmed a political dispute.
Today’s post followed the same pattern: high engagement and viral reactions, but no major price move. Two reasons explain this:
- Overall market trends: With big cryptocurrencies falling, meme coins like DOGE underperform.
- Content of the post: Musk’s tweet praised Dogecoin and mentioned energy, but didn’t announce any new product, payment system, or real-world use. Investors now distinguish between hype and actual developments.
In short, Musk’s tweets create buzz, but DOGE only moves when there’s a clear, tangible reason.
