Elon Musk says 'I like dogs and memes' as he expresses dislike for cryptos other than Dogecoin
Elon Musk
made waves once again by declaring his lack of enthusiasm for most cryptocurrencies, except Dogecoin. 'I like dogs and
memes
,' he quipped, reinforcing his reputation for humor-driven commentary in the crypto world. Musk clarified that any crypto promotion from him should be seen as lighthearted, not financial advice. While dismissing most
digital assets
, he maintained his soft spot for
Dogecoin
, which he called the 'people's crypto' due to its meme-driven, community-rooted identity rather than any traditional investment logic.
Elon Musk: Dogecoin is "the people's crypto"
Created as a parody of
Bitcoin
in 2013, Dogecoin has evolved into a cult favorite, partly because of Musk's ongoing public support. In the video clip, he said he has 'a soft spot' for the coin and emphasized its appeal lies in internet humor, irreverence, and dogs, which are central to meme culture. While most crypto endorsements are laden with investor intent, Musk has consistently positioned Dogecoin as a cultural artifact, not just a financial asset.
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Musk stressed that people shouldn't take his crypto mentions too seriously. 'I'm not going to be promoting crypto, at most, in a joking way,' he said. Although
SpaceX
reportedly holds nearly 6,900 Bitcoins valued at over $800 million, Musk downplayed the hype and indicated his interest in cryptocurrencies is mostly limited to their entertainment value. His statements highlight a growing gap between financial speculation and meme-based influence in the crypto space.
Dogecoin market surges in 2025
Despite Musk's comedic tone, Dogecoin's market performance remains strong. As of July 2025, the token was trading at around $0.23. Analysts such as Ali Martinez have predicted a surge of up to 80 percent based on technical indicators like a bullish 'double bottom' pattern. The coin has also seen massive whale activity, with over a billion
DOGE tokens
purchased within a 48-hour period, adding fuel to its bullish momentum.
Dogecoin: From joke to institutional adoption
Once dismissed as a gimmick, Dogecoin is now gaining real-world legitimacy. Companies like
Bit Origin
(Nasdaq: BTOG) have added DOGE to their corporate treasuries, signaling confidence in its longevity. While Bitcoin continues to dominate institutional portfolios and recently reached a record high of $123,000, Dogecoin's transition from internet joke to viable asset is increasingly difficult to ignore.
Why Musk still backs DOGE
Beyond humor, Musk has pointed out practical reasons for supporting Dogecoin. He has praised its relatively fast transaction speeds and low fees compared to other digital currencies. Combined with its widespread popularity and meme appeal, these traits contribute to what Musk sees as Dogecoin's edge over more complex, high-cost tokens in the market.
Elon Musk's declaration, 'I like dogs and memes,' is more than a meme itself. It captures a broader shift in how people engage with finance, where humor, community, and culture intersect with investment. While his support for Dogecoin might not be financial advice, it continues to shape real market outcomes and spark conversations across the tech and crypto worlds.
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