Elon Musk’s Influence on Dogecoin Price Seen at 2021 Super Bowl

On Sunday, the eyes of the world were watching the 2021 Super Bowl, where the Tampa Bay Buccaneers defeated the Kansas City Chiefs. Among the many celebrities in attendance were Twitter CEO Elon Musk and Fox News founder Rupert Murdoch.[0] Variety reported that following Rihanna’s halftime performance, Mr. Murdoch, the proprietor of the Fox conglomerate, who was the presenter of the sporting event this year, was spotted seated alongside Mr. Musk.[0]

People were taken aback by the seating arrangement, considering that Musk had tweeted only the day before that “some of the smartest people I know actively believe the press… amazing”, which seemed to suggest he was against the business ventures Murdoch was taking advantage of.[1]

Musk responded to a tweet calling for “Wrong answers only” with the claim that he had discussed Dogecoin with Murdoch. It is worth noting, however, that this post was in reply to the “Wrong answers only” tweet.[2] Replying to Roch-Decter’s tweet, Mr. Musk simply wrote, [4]Dogecoin.[3][4]

Merely mentioning DOGE (albeit in a joking manner) caused the cryptocurrency to surge 3.6% to $0.085, according to Benzinga.[5] The meme coin had a decrease of 4.5 percent during the previous week.[6] CoinMarketCap data showed that its trading volume increased by 192.8%, amounting to $645.79 million.[6]

As a result of his Dogecoin involvement, Elon Musk has become a market mover; his actions can affect the cryptocurrency’s worth.[7] In May 2021, when Elon Musk appeared on Saturday Night Live, the price of Dogecoin decreased by over 30%.[8]

The impact of Elon Musk is immense; he is a powerful figure and his remarks have an influential effect in the corporate world.[8] Dogecoin’s price may be affected by the large group of followers and investors that he has.[8]

0. “What Elon Musk Said As His Pic Sitting Next To Rupert Murdoch At Super Bowl Goes Viral” NDTV, 13 Feb. 2023, https://www.ndtv.com/feature/what-elon-musk-said-as-his-pic-sitting-next-to-rupert-murdoch-at-super-bowl-goes-viral-3778676

1. “Elon Musk is cribbing from Rupert Murdoch’s right-wing media playbook” Media Matters for America, 13 Feb. 2023, https://www.mediamatters.org/twitter/elon-musk-cribbing-rupert-murdochs-right-wing-media-playbook

2. “Dogecoin Price Prediction as Elon Musk Talks to Fox News Owner About DOGE During Super Bowl – Time to Buy?” Cryptonews, 13 Feb. 2023, https://cryptonews.com/news/dogecoin-price-prediction-as-elon-musk-says-talked-fox-news-owner-about-dogecoin-during-superbowl-time-buy.htm

3. “Was the Musk/Murdoch sandwich at the Super Bowl a taste of things to come for media?” The Irish Times, 13 Feb. 2023, https://www.irishtimes.com/media/2023/02/13/laura-slattery-musk-becomes-the-meat-in-a-murdoch-super-bowl-sandwich/

4. “Fox Simps as ‘Brilliant Minds’ Elon Musk, Rupert Murdoch Sit Together at Super Bowl” The Daily Beast, 13 Feb. 2023, https://www.thedailybeast.com/fox-fawns-over-elon-musk-sitting-next-to-rupert-murdoch-at-the-super-bowl

5. “Elon Musk sits next to billionaire Rupert Murdoch, and netizens aren’t happy about it” Republic World, 13 Feb. 2023, https://www.republicworld.com/world-news/us-news/elon-musk-sits-next-to-billionaire-rupert-murdoch-and-netizens-arent-happy-about-it-articleshow.html

6. “Elon Musk responds to discourse around him and Rupert Murdoch at Super Bowl” Newsweek, 13 Feb. 2023, https://www.newsweek.com/elon-musk-responds-rupert-murdoch-super-bowl-twitter-1780744

7. “Elon Musk is driving the price of dogecoin up by 5% again, here’s how” Royals Blue, 13 Feb. 2023, https://www.royalsblue.com/elon-musk-is-driving-the-price-of-dogecoin-up-by-5-again-heres-how

8. “Doge Price Big Boost: Is Elon Musk Set to Rocket Dogecoin Price to $5?” CryptoTicker.io – Bitcoin Price, Ethereum Price & Crypto News, 15 Feb. 2023, https://cryptoticker.io/en/set-to-rocket-dogecoin-price-to-5