Elon Musk is known to have influenced the Dogecoin market, which has increased hundreds of times, even though this coin started as a meme. The tweets he writes can also affect the market quickly, such as the drop in the price of Bitcoin after he announced Tesla was no longer accepting Bitcoin as a means of payment.

Not once or twice, it has been observed recently that Elon Musk has also written endorsement for Dogecoin. However, there didn't seem to be a significant impact like he had in previous years.