Elon Musk, whose tweets helped turn DOGE from a joke into one of the world’s best-known meme coins, is rethinking that chapter of his career. In a recent interview, he described the project as only “a little bit successful” and said that, if he could go back, he would have spent that energy purely on building his companies instead of boosting the cryptocurrency.
From ‘Dogefather’ to cautious distance
Musk’s relationship with DOGE has always sat somewhere between performance and conviction. His posts calling himself the “Dogefather,” jokes on Saturday Night Live and periodic hints about integrating DOGE into Tesla or X (formerly Twitter) payments sent the token soaring and crashing in equal measure over the past four years.
Now, as regulators and investors scrutinise the broader social impact of meme-coin frenzies, Musk is striking a more measured tone. According to Forbes, he still defends DOGE’s existence but frames it as a limited experiment rather than a model he would actively repeat.
What his comments mean for meme coins
For true believers, Musk’s words may not matter; DOGE long ago developed a culture and community far beyond any single influencer. But the billionaire’s public distance does send a signal about the risks of tying a financial asset to the personality of one high-profile individual.
In practice, meme coins remain among the most volatile instruments in crypto. Their prices can move violently on rumours, jokes or celebrity endorsements, often leaving latecomers with heavy losses when the cycle turns. Musk’s suggestion that he would rather have focused on Tesla, SpaceX and xAI if given a do-over is a reminder that even the loudest promoters may eventually prioritise fundamentals over memes.
A lesson for everyday traders
For retail traders in Lebanon and around the world, the DOGE story is a case study in how quickly attention can become capital – and how fragile that capital can be. Meme-driven rallies can create real, life-changing gains for a few and sharp losses for many. When the main character in the story steps back and calls the experiment “only a little bit successful,” it may be time to treat meme coins less as investment plans and more as high-risk speculation.
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