Elon Musk's Chainsaw Post Sparks Dogefather Token Surge
1min read Elon Musk's latest social media post has sparked a significant rally in Dogefather-themed tokens, underscoring his enduring influence in the cryptocurrency sphere. According to COINOTAG, Musk's endorsements can single-handedly propel niche tokens into the spotlight, and his recent activity has led to an impressive rise in these tokens.
Musk posted an image of himself on X, holding a chainsaw with the text "The Dogefather" prominently displayed in the background. The caption read, "This is a real picture." The term "Dogefather" is a long-standing nickname for Musk in the cryptocurrency community, referencing his connection with Dogecoin (DOGE). This nickname gained traction when Musk appeared on Saturday Night Live (SNL) in 2021, where he referred to himself as the "Dogefather."
Following Musk's latest post, multiple tokens branded with the Dogefather name experienced an explosive rally. The Dogefather (DOGEFATHER) token surged by 122%, trading at $0.0015 at press time, marking its highest price since late January 2025. The DogeFather (DOGEFATHER) also rose by triple digits, with its 137% rise pushing its trading price to $0.0040. Several other similarly themed tokens also saw price spikes, and opportunistic developers even launched new Dogefather-named tokens that skyrocketed in value within hours of their creation.
This isn't the first time Musk's social media activity has moved markets. Previously, when he changed his username to "Kekius Maximus" and "Harry Bōlz," the associated tokens saw massive gains. Likewise, in late January, DOGE saw a notable surge after the US Department of Government Efficiency prominently displayed the meme coin's logo on its official homepage.
The image in question was digitally altered, with the original picture taken at the Conservative Political Action Conference (CPAC) on February 20, 2025, where Musk made an appearance. Argentine President Javier Milei presented Musk with an ornate chainsaw as a symbolic gesture, which Musk accepted with the words, "This is the chainsaw for bureaucracy." This gesture is linked to Musk's work with the Department of Government Efficiency (DOGE), a role he holds under the Donald 
