Elon Musk, the tech entrepreneur and billionaire, has sparked a frenzy with his post on X. Musk shared an image of his laptop with a dollar bill sticker labeled with the Dogecoin-dog logo. The post immediately sparked a debate about the hints Musk might be suggesting to the cryptocurrency community.

What Drives This Speculation?

Notably, the face of George Washington has appeared on the one-dollar bill since 1896, but the photo Musk shared is of a Shiba Inu dog. According to Musk, he has owned the image for about three years as a gift.

"This is a picture of my laptop. It’s about 3 years old. A guy in Germany gave me this awesome sticker, so I don’t want to upgrade it and lose that sticker," he wrote.

The bill has the words “Dogecoin Reserve Note” at the top. This has led many in the community to speculate about the possibility of an early Dogecoin (DOGE) reserve. These speculations stem from Musk's previous posts supporting memecoin.

The Increasing Influence of Dogecoin on Musk's Relationships

In addition to sharing memes about DOGE, his automotive company, Tesla, accepts DOGE as a payment method for some of its products. Therefore, sharing the Dogecoin Reserve Note in a post for his more than 209 million followers understandably caused a stir, especially among cryptocurrency enthusiasts.

Additionally, Elon Musk's intentional portfolio choice, the Department of Government Efficiency (DOGE) under President Trump, further fuels positive sentiment for DOGE. This department has received support from notable stakeholders in the cryptocurrency space. And each time his position is mentioned, it draws attention to memecoin.

Analysts suggest that such subtle support could boost market sentiment and trigger a rally. Interestingly, Musk made a mysterious statement last month, "Starting to feel that 'DOGE has real potential' for the Department of Government Efficiency (DOGE)."

Market Sentiment and Price Impact

What Musk may have planned or whether DOGE benefits the new administration is still uncertain. However, his attention to this token could drive the price up.

As of the time of writing this article, DOGE is trading at $0.3245, up 4.44% in the last 24 hours. Its market volume has recorded an increase of 15.99% to $2.5 billion. The community expects more profits in the coming days.

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