Tesla Chief and Dogecoin proponent Elon Musk gives a shout-out to the leading meme coin on Christmas Day.

From regular mentions to payment support for merchandise, the world’s richest man and Tesla CEO Elon Musk has long established himself as a champion of the popular doggy-themed meme crypto Dogecoin (DOGE). As such, it is no surprise that the billionaire did not miss the chance to shout out the popular crypto on Christmas day.

“Who Let the DOGE Out?”

Amid the Christmas festivities, Tesla CEO Elon Musk took time out to offer a Dogecoin mention with a play on the lyrics of Baha Men’s 2000 hit song “Who Let the Dogs Out.”

“Who let the DOGE out?” Musk wrote, captioning a photo of his dogs Gatsby, Marvin, and Floki in Christmas-inspired costumes in an X post on Wednesday, December 25.

🎶 Who let the DOGE out? 🎶 pic.twitter.com/1GR7Cih54R

— Elon Musk (@elonmusk) December 25, 2024

But Musk’s DOGE shout-out did not end there as keen-eyed observers were quick to point out that the cape on Floki, a dog that has also inspired a successful meme coin of its own, was decorated with Dogecoin logos.

Many DOGE proponents and avid Musk followers are hopeful that the billionaire’s latest show of support will have bullish implications for the meme coin’s price. One observer pointed out that the last time the billionaire posted those words in reference to the meme coin, it went parabolic shortly after.

The post in question came up February 7, 2021. Besides an immediate price surge on the day, DOGE kicked off a parabolic rally to all-time highs of $0.73 roughly two months after in a run many have attributed to Musk’s unrelenting support and influence.

There is no clear indication that such a rally is imminent as DOGE trades 5% lower on Thursday, December 26, at $0.3162. Over the past month, however, analysts have continued to predict higher prices for the asset, arguing that it is replicating its price action from the 2017 and 2021 bull cycles.

While most DOGE proponents are okay with Elon Musk’s support, the billionaire’s antics have previously attracted a class action lawsuit bringing market manipulation claims. The lawsuit was dismissed with prejudice in August 2024.