Elon MemeLord

Elon Musk

<p class="is-style-lead">Elon Musk’s short posts about crypto have delivered double-digit gains for Bitcoin, Dogecoin, and SHIBA INU on multiple occasions. How many do you remember?</p> 
<p>X (still referred to as <a href="https://crypto.news/tag/twitter" rel="">Twitter</a> by practically everyone) has long established itself as one of the most important social networks for the <a href="https://crypto.news/tag/cryptocurrency/" rel="">crypto</a> community.</p> 
<p>As well as giving early adopters an opportunity to interact with each other, it’s allowed <a href="https://crypto.news/tag/bitcoin/" rel="">Bitcoin</a> and <a href="https://crypto.news/tag/ethereum/" rel="">Ether</a> to burst through into mainstream consciousness.</p> 
<p>Barely a day goes by when a crypto term isn’t trending on the platform — and at the time of writing, unsurprisingly, there’s a lot of buzz about <a href="https://crypto.news/why-does-everyone-want-to-get-rich-with-telegram-hamster-kombat/" rel="">#HAMSTERKOMBAT</a>.</p> 
<p> You might also like: <a href="https://crypto.news/russian-roots-of-hamster-kombat-journalists-revealed-the-game-founders/" rel=""> Russian roots of Hamster Kombat: journalists revealed the game founders&nbsp; </a> </p> 
<p>Meanwhile, Spaces became a popular forum for in-depth conversations about the values that underpin the industry… and they’ve often attracted some pretty big names.</p> 
<p>There have also been times when the posts (ahem, tweets) have had a huge and sudden impact on the crypto markets… and not always in a good way.</p> 
<p>You’ll be unsurprised to hear that most of them came from one man — <a href="https://crypto.news/tag/elon-musk/" rel="">Elon Musk</a> — who avidly posted about digital assets until a few years ago. Of course, he now owns X.</p> 
<p><a href="https://www.bitomat.com/en" target="_blank" rel="">Bitomat</a> recently released research that delved into the tweets that had the most impact, and it’s a pretty good history lesson on the wild journey that cryptocurrencies have been on so far.</p> 
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   <p lang="en" dir="ltr">One word: Doge</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1340590280848908288?ref_src=twsrc%5Etfw" target="_blank" rel="">December 20, 2020</a>
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<p>Who knew three little words could make such a huge difference?</p> 
<p><a href="https://crypto.news/tag/dogecoin/" rel="">Dogecoin</a>, then a relatively niche memecoin, doubled to $0.004 over the days that followed this post in December 2020.</p> 
<p>DOGE was on the brink of an incredible bull run that would see its price peak at $0.7376 — and incidentally, the top was reached when Musk called it a “hustle” on Saturday Night Live.</p> 
<p>Someone who gained exposure to this <a href="https://crypto.news/tag/altcoin/" rel="">altcoin</a> at the time of this post would have ended up making a cool $184 for every $1 invested.</p> 
<p>It remains one of the biggest cryptocurrencies by market capitalization to this very day.</p> 
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<p>OK, so not a tweet we admit — but it happened on Twitter, so that counts for something.</p> 
<p>Musk quietly added #bitcoin to his bio in January 2021, and once it was noticed by Bitcoiners, it had a huge impact on the value of the world’s biggest cryptocurrency.</p> 
<p>A surge from $32,000 to beyond $38,000 — almost 20% — happened in a few hours. Such sudden and substantial increases are pretty rare these days.</p> 
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   <p lang="en" dir="ltr">Tesla &amp; Bitcoin <a href="https://t.co/YSswJmVZhP" target="_blank" rel="">pic.twitter.com/YSswJmVZhP</a></p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1392602041025843203?ref_src=twsrc%5Etfw" target="_blank" rel="">May 12, 2021</a>
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<p>Just like Bitcoin’s volatility can work both ways, so can Musk’s posts.</p> 
<p>The billionaire spooked the markets when he announced that <a href="https://crypto.news/tag/tesla/" rel="">Tesla</a> would <a href="https://crypto.news/tesla-bitcoin-payments-environmental-concerns/" rel="">no longer be accepting Bitcoin</a> amid concerns about its energy use and carbon emissions.</p> 
<p>It led to a stomach-churning 19% drop in BTC’s value, from $58,000 to $47,000.</p> 
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   <p lang="en" dir="ltr">Dogecoin is the people’s crypto</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1357241340313141249?ref_src=twsrc%5Etfw" target="_blank" rel="">February 4, 2021</a>
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<p>Musk was arguably DOGE’s biggest booster in 2021.</p> 
<p>This post delivered in February of that year another 50% bump — from $0.04 to $0.06 — and garnered a cool 100,000 retweets.</p> 
<p>How many people do you think saw that and learned about Dogecoin for the first time?&nbsp;</p> 
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   <p lang="en" dir="ltr">I’m getting a Shiba Inu <a href="https://twitter.com/hashtag/resistanceisfutile?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#resistanceisfutile</a></p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1370946514974031872?ref_src=twsrc%5Etfw" target="_blank" rel="">March 14, 2021</a>
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<p>Sometimes, he ended up moving the markets in pretty unpredictable ways.</p> 
<p>Dogecoin’s success sparked a rush to create several smaller memecoins — and one of them was <a href="https://crypto.news/tag/shiba-inu/" rel="">Shiba Inu</a>, the breed of Kabosu, who was the original Doge.</p> 
<p>SHIB ended up tripling in value off the back of five little words and a hashtag. Even now, it remains the 11th-biggest cryptocurrency in the world with a market cap that far exceeds some established companies.</p> 
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   <p lang="en" dir="ltr">Tesla will make some merch buyable with Doge &amp; see how it goes</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1470703708677840896?ref_src=twsrc%5Etfw" target="_blank" rel="">December 14, 2021</a>
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<p>DOGE rallied by 43% off the back of this post alone in December 2021, with Musk adding a previously lacking layer of utility by accepting it as a payment method.</p> 
<p>There was a similar effect and a bump of 78% when <a href="https://crypto.news/tag/mark-cuban/" rel="">Mark Cuban</a> acknowledged its low transaction fees in a tweet two months later.</p> 
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   <p lang="en" dir="ltr">No highs, no lows, only Doge</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1357244295091208193?ref_src=twsrc%5Etfw" target="_blank" rel="">February 4, 2021</a>
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   <p lang="en" dir="ltr">Bought some Dogecoin for lil X, so he can be a toddler hodler</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1359519541219500033?ref_src=twsrc%5Etfw" target="_blank" rel="">February 10, 2021</a>
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   <p lang="en" dir="ltr">Doge meme shield (legendary item) <a href="https://t.co/CeomU9q84c" target="_blank" rel="">pic.twitter.com/CeomU9q84c</a></p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1366477626429169666?ref_src=twsrc%5Etfw" target="_blank" rel="">March 1, 2021</a>
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<p>All of these tweets came within four weeks of each other — and undoubtedly played an instrumental role in DOGE’s unlikely rally to a market cap that even (temporarily) exceeded some of the world’s oldest banks.</p> 
<p>Each delivered double-digit gains — with “no highs, no lows, only Doge” doing particularly well and securing a 50% bump.</p> 
<p>But as the old saying goes, all good things must come to an end. DOGE is now trading at 82% below the all-time high set in May 2021, and has failed to ignite during the current bull run.</p> 
<p>And in a sign that his posts had lasting consequences, a group of investors later sued him for a jaw-dropping $258 billion — accusing him of using “his pedestal as the world’s richest man to operate and manipulate the Dogecoin pyramid scheme.”&nbsp;</p> 
<p>His lawyers <a href="https://crypto.news/elon-musks-legal-team-responds-to-audacious-allegations-in-dogecoin-case/" rel="">continue to battle</a> to get the lawsuit thrown out.</p> 
<p> You might also like: <a href="https://crypto.news/coinbases-state-of-crypto-report-heres-what-we-learned/" rel=""> Coinbase’s State of Crypto report: What we learned </a> </p>

9 Elon Musk tweets that moved the crypto markets

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