Elon Musk Revives the "Dogefather" Title with a Twist

In 2021, Elon Musk's appearance on a popular late-night show where he declared himself "The Dogefather" propelled Dogecoin (DOGE) into the spotlight. Since then, however, Musk has rarely used the moniker.

That changed on February 20, 2025, when Musk received a DOGE-labeled chainsaw from Argentinian President Javier Millei. Subsequently, he updated his profile picture on X, his social network, with a background that read "The Dogefather."

While this revived Musk's association with DOGE, it differed from his previous endorsement. It hinted at a new interpretation: the Department of Government Efficiency DOGE, which Musk reportedly heads.

Market Reaction

Despite the nostalgic undertones, the market remained unmoved. DOGE's price experienced a modest 0.46% gain over the trading session, underperforming the broader altcoin market represented by the TOTAL2 index, which rose by over 1%.

This suggests that Musk's revival of the "Dogefather" title, while symbolic, had little impact on DOGE's price.

Interpretation

Some believe this incident highlights that Musk's market influence is waning, while others see it as a reminder of his unpredictable behavior. Despite the price charts' lack of reaction, it evokes memories of the early days when Musk's endorsements drove DOGE's rallies.