Launched in December 2013, Dogecoin was the first cryptocurrency based on an internet meme. In recent years, Musk's mentions of Dogecoin have often triggered dramatic price fluctuations. In fact, the abbreviation for the government efficiency department led by the billionaire during the Donald Trump administration is the same as Dogecoin.
Currently, Dogecoin has a market capitalization of over $14 billion, ranking tenth.
"You come to me on the day of my Dogecoin wedding, asking for my private keys. Are you even friends? Didn't you even think to call me DOGEfather?"
This is not the first time Musk has associated classic movies with Dogecoin.
However, Musk's public statements seem to have had no substantial impact on Dogecoin's price.
In fact, Dogecoin has fallen 2.2% in the past 24 hours. As of press time, DOGE was trading at $0.09237.
Other dog-inspired meme coins are also performing poorly.
Floki (FLOKI) is also down 2.2%, currently trading at $0.00002913.
The total market capitalization of meme coins has fallen to $33 billion, down 7.6% in the past 24 hours.