Musk's calls have been events since 2021, but a few months ago, when Musk envisioned the 'Department of Government Efficiency (DOGE)', the market for DOGE did not change significantly.
This time, the call not only caused DOGE to surge 15% in the short term, but it is still continuing to rise today, which brings to mind Musk's calls for DOGE during the bull market in 2021. In January, February, and April of 2021, Musk made calls for DOGE on Twitter, and at that time, DOGE rose by at least 37%, with the highest increase reaching 404%.
However, some may feel that Musk's calls indeed herald a bull market, but the following data may shatter that imagination. In fact, Musk also made calls for DOGE during the bear market in 2022; he made calls in January, April, and June, and the increases during those times were all between 10% and 32%.
If we compare this current DOGE surge of 15%, this alone cannot confirm that a bull market is imminent, but it is certain that this is something that has not happened during past bear markets. Whether Musk can relive the 'Musk Investment Consultant' experience remains to be seen…
