Dogecoin Buzz Returns as Elon Musk Revives Dogefather Meme
- Regardless of the revived enthusiasm, the price of DOGE remains unreacted and is still flat in the following hours.
- A user posted on X that, “Posts like this used to give us money a few years ago.”
Some of the market observers have predicted that Dogecoin (DOGE) could be prepared for a mega price expansion. And, at the same time, Elon Musk has renewed his popular meme after a long time, which has revived enthusiasm among crypto community members.
Investors were in a state of confusion from long ago about whether Elon Musk had abandoned Dogecoin. Musk kept the memecoin in front and centre of the crypto conversation after renewing his famous “Dogefather” meme.
On March 19, the CEO of Tesla shared an AI-generated video on X in which he recreated a prominent scene from “The Godfather”. The video was made using Grok Imagine and shows Musk in a black tuxedo as Vito Corleone, the iconic character played by Marlon Brando in the Francis Ford Coppola film.
The Uneffected Market
After the post surfaced, the community members revived their enthusiasm, and various interpreted it as a new sign to back DOGE. Musk has often been seen advocating for the oldest memecoin on his social media, mostly calling himself the “Dogefather”.
His doge-inspired posts have so far caused prominent fluctuations in the price of cryptocurrency; however, their frequency has slipped over time. It is noteworthy that he ignited a massive rally in 2021 when he promoted his Saturday Night Live appearance using the “Dogefather” meme.
Regardless of the revived enthusiasm, the price of DOGE remains unreacted and is still flat in the following hours along with the rest of the crypto market. A user posted on X that, “Posts like this used to give us money a few years ago.”
He simply meant that, whenever Elon Musk posted anything like this, the excited community members would push the price to skyrocket. However, the memecoin slipped from the recently reclaimed $0.10 level, slipping to a $0.0918 one-week low on March 19 afternoon.
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