Elon Musk’s Influence on Dogefather Tokens

Elon Musk, CEO of Tesla and SpaceX, has sparked a dramatic surge in Dogefather-themed tokens following his latest post on X (formerly Twitter).

Musk’s posts, particularly those about meme coins or his nicknames, often attract significant attention on social media, due to his vast following and influence in the crypto community.

Musk Triggers Dogefather Price Rally

Musk shared an image on X of himself holding a chainsaw, with “The Dogefather” prominently displayed in the background.

> “This is a real picture,” the caption read.

The term “Dogefather” has long been a nickname for Musk in the cryptocurrency community, playfully referencing his connection to Dogecoin (DOGE). This nickname became popular after he appeared on Saturday Night Live (SNL) in 2021, calling himself the “Dogefather.”

Following Musk’s latest post, several tokens with the Dogefather branding experienced dramatic price increases. The Dogefather (DOGEFATHER) token surged by 122%, trading at $0.0015, marking its highest price since late January 2025.

Dogefather Tokens Price Performance. Source: GeckoTerminal

Moreover, The DogeFather (DOGEFATHER) also increased significantly, seeing a 137% rise to $0.0040. Other similarly themed tokens also observed price spikes, and new Dogefather-named tokens were launched, skyrocketing in value shortly after.

Historically, Musk’s social media activity has influenced markets. Tokens linked to his usernames, such as “Kekius Maximus” and “Harry Bōlz,” have experienced substantial gains. Additionally, during late January, DOGE saw a surge after the US Department of Government Efficiency displayed its logo prominently on its homepage.

President Milei Gifts Chainsaw to Musk

It’s important to note that the image was digitally altered. The original was taken at the Conservative Political Action Conference (CPAC) on February 20, 2025, where Musk was gifted an ornamental chainsaw by Argentine President Javier Milei.

> “This is the chainsaw for bureaucracy,” Musk remarked.

This gesture reportedly relates to Musk’s involvement with the Department of Government Efficiency (DOGE), furthering efforts to reduce US government spending and workforce under the Trump administration. Milei has often used a chainsaw as a symbol for his aims to cut government expenditure in Argentina.