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Elon Musk Posts Picture of Dogs in Hats, Dogwifhat Memecoin Surges

Last Updated March 18, 2024 12:42 PM
Teuta Franjkovic
Last Updated March 18, 2024 12:42 PM
By Teuta Franjkovic
Verified by Peter Henn

Key Takeaways

  • Meme coin WIF jumped over 40% after Elon Musk posted a picture of his dog in a St. Patrick’s Day hat.
  •  The Shiba Inu team leveraged Musk’s large audience by strategically placing their St. Paddy message under his post.
  • A detail in Musk’s picture shows a bag with a coin featuring a large “D” sparking speculation of a potential Doge tease.

Dogwifhat (WIF), a memecoin on the Solana blockchain, saw a 40% value increase , outperforming Dogecoin and Shiba Inu.

This surge followed Elon Musk’s tweet featuring his dog in a Saint Patrick’s Day hat.

WIF Woof! Elon’s Green Pups Send Meme Coins Howling Higher

Saint Patrick’s Day, celebrated on March 17th, honors Ireland’s patron saint. It’s both a cultural and religious festival. Participants often wear green, including hats, symbolizing Irish tradition and the country’s landscape. This day involves celebrating Irish folklore, traditions, and the widespread association of green with Ireland.

Elon Musk, CTO of X and CEO of Tesla joined several influential figures in celebrating Saint Patrick’s Day on social media. He shared a post  featuring his dogs dressed in green, echoing the holiday’s traditions.

The post led to a significant recovery for the memecoin WIF, with over two-thirds of its weekend losses regained.

Dogwifhat (WIF) witnessed a significant increase of over 40% last Sunday, aligning with Musk’s post. This emerging memecoin managed to rebound from its previous downturn, escalating from a support level of $2.06 to $3.15 by the day’s end. At the time of writing (March 18 2024) WIF was up  by more than 27% to $3.26.

This event reversed the market sentiment to bullish, as shown in TradingView charts . The impact extended to other memecoins like Dogecoin, which at the time saw a 16% increase, and SHIB from the Shiba Inu ecosystem, which rallied by 25% during the same period, according to TradingView data .

Shibarium Team Spreads Holiday Cheer, Leverages Musk’s Reach

Lucie, a content specialist from the Shiba Inu ecosystem team, stood out with a unique response  to the celebrations. She presented a festive display on behalf of the Shib Army and Shibarium ecosystem, offering warm holiday greetings to all.

Lucie placed her St. Patrick’s Day message under Elon Musk’s post to gain visibility, taking advantage of Musk’s wide audience. This move, aimed at catching Musk’s attention, has successfully garnered over 27,600 views in under a day.

Easter Egg Alert! Mysterious “D” Coin Spotted in Musk’s St. Paddy’s Pic

However, in the photograph shared by Musk, a detail that went largely unnoticed is the bag on the right, which upon closer inspection, features a coin adorned with a large ‘D’. Whether this serves as a subtle nod to Dogecoin or hints at something different remains to be seen. Time, or perhaps an imminent revelation from Musk, will provide clarity.

Musk's easter egg
Credit: Elon Musk,x/Hameem Sarwar, CCN.com

Musk Teases Dogecoin for Tesla, Sends Price Howling to the Moon

Elon Musk is renowned for his occasional insights on cryptocurrency ventures, often sparking favorable responses in the market. Recently, at Tesla’s Giga factory in Berlin, Musk teased the idea of accepting Dogecoin (DOGE) as payment for Tesla vehicles.

Echoing the enthusiastic “Dogecoin to the Moon” sentiment during his speech, Musk catalyzed a significant surge in Dogecoin’s value. Consequently, DOGE witnessed a 13% increase, climbing from $0.1657 to $0.1880, buoyed by Musk’s optimistic remarks and nearing the $0.20 milestone.

In a lighter moment, Musk suggested  he might invest in a cryptocurrency linked to American entrepreneur and angel investor Jason Calacanis. This came as Calacanis humorously distanced himself from any cryptocurrency endeavors bearing his name.

Following Elon Musk’s interaction with Calacanis, a meme coin on the Solana network, identified by the ticker JASON and featuring Calacanis’ image, experienced a surge in its value, rewarding its investors with substantial profits. An investor revealed achieving close to $100,000 in earnings in a brief period through holding the token.

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