Foreign media report that as Musk became the first person to reach a net worth of $1 trillion, Dogecoin has once again been brought into the market spotlight. The article suggests that while this development itself will not directly alter DOGE’s fundamentals, Musk’s increased personal influence may still amplify market attention through his statements and business actions.
DOGE has recently been under pressure.
According to CoinGecko data cited in the article, DOGE rose 1.2% over the past 24 hours and 7.9% over the past 7 days. However, when extending the timeframe to 14 and 30 days, DOGE declined by 14.1% and 24.2%, respectively, indicating that the short-term rebound has not reversed the recent downward trend.
The article notes that Dogecoin remains the only meme coin among the top ten cryptocurrencies by market capitalization. Amid frequent changes in similar projects, DOGE continues to maintain high market recognition, which is one reason why its price tends to fluctuate more noticeably each time it receives celebrity attention.
Elon Musk has publicly supported on multiple occasions in the past.
The article states that Musk has publicly expressed his preference for Dogecoin on multiple occasions, emphasizing its "non-serious" nature. He has also said it would be ironic if a cryptocurrency that originated as a joke eventually became mainstream.
In addition to public statements, Musk’s companies have also provided payment scenarios involving DOGE. The article notes that Tesla and SpaceX have supported DOGE payments for certain merchandise. While the scope of such applications remains limited, they continue to positively influence market sentiment.
X Money and SpaceX plans attract attention
The article suggests that the market is currently focused on whether X Platform will integrate DOGE payments. If this feature is implemented, DOGE’s reach could expand further. Meanwhile, Musk previously mentioned plans to send a physical Dogecoin to the Moon before 2027.
The article also mentions that SpaceX is expected to launch the DOGE-1 satellite, a project allegedly fully funded by DOGE. The core assertion is that as Musk’s wealth and visibility continue to grow, any future public mention of DOGE could trigger even larger market fluctuations. However, this assessment is primarily based on historical performance and market sentiment, not on confirmed business developments.