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Elon Musk dubs himself ‘The Dogefather’ in SNL promo tweet, prompting real people to invest actual money in joke crypto

Elon Musk is now — apparently — The Dogefather.

(Market Watch) Dogecoin DOGEUSD, +12.04% shot up 32% in the wee hours of Wednesday morning after the billionaire Musk tweeted “The Dogefather” at 2 a.m. EST, a sign of both Musk’s strange power over the Doge community, and another example the volatile digital coin can make huge moves on just an inscrutable celebrity tweet.

Doge, which started as a crypto joke inspired by an internet meme featuring a shiba inu dog, has seen it’s value surge almost 8,000% in 2021, thanks in large part to celebrities like Musk who have given tongue-in-cheek love to what was once a virtually useless digital token.

Musk, the self-appointed Technoking of Tesla, Imperator of Mars and father of 11-month-old son X Æ A-Xii, has had a lot of fun using his massive social media following to pump the price of Doge, tweeting back on April 1 that he would use his SpaceX rockets to put a physical Doge coin on the literal moon, echoing the social media goal of taking the coin’s price “to the moon.”