Elon Musk’s Dogecoin Obsession: Why the Meme Coin Might Skyrocket in 2025
Dogecoin—the joke that outlived its critics—is back in the spotlight. Thanks to Elon Musk’s relentless cheerleading, the Shiba Inu-branded crypto is flirting with legitimacy. Again.
Here’s why 2025 could be its year.
The Musk Effect: More Than Just Tweets
When the world’s richest meme lord says ‘to the moon,’ markets listen. Tesla’s brief flirtation with DOGE payments proved even half-baked adoption moves the needle. Now, with X (formerly Twitter) integrating crypto tipping? Strap in.
Institutional Whispers
Hedge funds won’t admit it, but they’re accumulating. Grayscale’s DOGE trust trades at a 300% premium—because nothing screams ‘sound investment’ like paying triple for an asset that started as a literal joke.
The Retail Revival
Bitcoin’s ATH sucked oxygen from alts. But as new money cycles back into crypto, Dogecoin’s low entry point and name recognition make it the perfect gateway drug for normies. Robinhood traders already treat it like a slot machine.
The Verdict
Will DOGE 10x? Maybe. Will it crash spectacularly? Almost certainly. But in a market where ‘fundamentals’ mean less than a viral Elon tweet, betting against the dog might be the real joke.
Why Elon Musk’s Favorite Crypto, Dogecoin, May Surge in 2025
Musk has publicly stated that Dogecoin (DOGE) is his favorite crypto project. The world’s richest person has cited the project’s non-serious nature as one of his reasons for liking the cryptocurrency. Musk has gone as far as to enable DOGE payments for Tesla and SpaceX merchandise.
We already know that a DOGE ETF application is currently awaiting approval at the SEC. There is a high chance that the financial watchdog will greenlight a spot DOGE ETF sometime this year. There is also a high chance that Musk’s X social media platform will accept DOGE in its upcoming payment feature. Both developments could lead to a massive price spike for the asset. While the developments WOULD be incredibly bullish, we do not have any confirmation if both will come to fruition.
Apart from the ETF and the possibility of being included on X Money, dogecoin (DOGE) could also experience a price surge if Bitcoin (BTC) sees another bullish leg. BTC and DOGE share a correlation coefficient of 0.84. A BTC rally could trickle into DOGE. According to the Binance founder Changpeng Zhao, BTC could hit somewhere between $500,000 and $1 million this cycle. BTC hitting the $1 million mark could lead to a massive price spike for Dogecoin.
Dogecoin (DOGE) may also experience a surge in adoption this year. The asset’s price could skyrocket if we witness another 2021-like rally. The memecoin had an incredible run during the 2021 bull market. If we see a surge in retail investment, the memecoin could finally breach the $1 mark, if not beyond.
