Elon Musk has once again voiced support for dogecoin, saying the meme cryptocurrency still “has potential as a currency” even as the broader crypto market faces heavy selling pressure. The comment adds to a long record of public endorsements from the Tesla and SpaceX chief, whose remarks have often influenced sentiment around DOGE and its role in the digital asset market.
Musk doubles down on Dogecoin’s payments narrative
Musk made the latest comment in response to dogecoin co-creator Billy Markus, who said one reason he likes the cryptocurrency is that it “knows it is stupid.” In reply, Musk reaffirmed a view he has expressed before: dogecoin may have genuine utility as a form of money rather than simply as a speculative token or internet joke.
That position is consistent with his earlier statements on crypto use cases. Musk has previously argued that dogecoin is better suited for transactions, while bitcoin is more appropriate as a store of value. He has also referred to DOGE as “the people’s crypto”, framing it as a more accessible and community-driven asset than many larger digital currencies.
His support for dogecoin is not new. Back in April 2019, Musk wrote that dogecoin might be his favorite cryptocurrency and described it as “pretty cool.” He has also disclosed that he personally owns dogecoin, bitcoin, and ether, reinforcing the idea that his comments are tied not only to public discourse but also to assets he has acknowledged holding himself.
The latest endorsement comes at a time when investors remain highly sensitive to public signals from major business figures. Because Musk has become so closely associated with DOGE, each new comment tends to renew debate over whether dogecoin can evolve from a meme-driven asset into a more practical payment token.
Twitter acquisition put on temporary hold
At the same time, Musk’s proposed takeover of Twitter has hit a pause. The billionaire had offered about $44 billion to acquire the social media company, and Twitter accepted the bid. Since then, he has discussed multiple ideas for changing and improving the platform.
However, Musk later announced that the deal had been temporarily placed on hold. According to his public statement, the pause was pending details supporting Twitter’s estimate that spam or fake accounts represent less than 5% of users.
Despite that pause, Musk also said he remained committed to the acquisition. That distinction matters: the deal was not described as abandoned, but rather delayed while he sought more clarity on one of the platform’s most persistent problems.
The issue of fake and spam accounts has long been central to Musk’s criticism of Twitter. In particular, he has highlighted crypto spam bots as a major annoyance on the platform, once calling them the “single most annoying problem on Twitter.” His focus on the issue suggests that any future platform changes under his ownership could include stronger measures against automated abuse and impersonation.
Possible role for Dogecoin in Twitter’s ecosystem
As Musk explored ideas for Twitter, dogecoin also surfaced in discussions about how the platform might be redesigned. Mark Cuban, the owner of the NBA’s Dallas Mavericks and a well-known crypto supporter, suggested that dogecoin could be used as part of a solution to Twitter’s spam bot problem. Musk responded by saying it was “not a bad idea.”
That brief exchange fueled further speculation that DOGE could become more than a symbolic favorite of Musk’s and instead gain a functional role in online services. Musk has also indicated that dogecoin might be accepted for Twitter Blue, the platform’s subscription product. While no formal rollout was described in the source material, the idea aligned with his broader view that DOGE is useful for payments and micro-transactions.
If such integrations were ever implemented, they could provide dogecoin with a more concrete utility narrative. Rather than relying mainly on community enthusiasm and celebrity attention, DOGE could potentially be tied to subscription services, anti-spam mechanisms, or digital payment experiments inside a major social platform.
Why the market is watching closely
Musk occupies a unique position in crypto discourse. His comments can shift public attention quickly, especially when they concern dogecoin. By once again saying the token has currency potential, he reinforced the thesis that DOGE may be more viable in everyday transactional contexts than in long-term value preservation. That framing differs from the way bitcoin is commonly discussed and helps explain why Musk continues to separate the use cases of the two assets.
Meanwhile, the temporary pause in the Twitter buyout adds another layer of uncertainty. Because Musk has repeatedly linked platform reform ideas with crypto-related concepts, any delay in the acquisition also delays clarity on whether those ideas could ever move into implementation. For now, the market is left with signals rather than final decisions: Musk still supports dogecoin, still appears interested in practical uses for it, and still says he is committed to completing the Twitter deal.
In the near term, attention is likely to remain fixed on two questions. First, whether Musk continues to expand the payments-focused case for dogecoin. Second, whether the Twitter acquisition ultimately proceeds after further scrutiny of fake and spam account metrics. Until more details emerge, DOGE remains at the center of a story that blends crypto branding, platform governance, and one of the most closely watched takeover attempts in tech.