Elon Musk revived his "Dogefather" persona in an AI-generated video posted to X on Thursday, a move that stirred fresh excitement among Dogecoin (DOGE) supporters even as the memecoin slid to a one-week low of $0.0918 and one analyst declared a $2 price target "inevitable" based on the token's long-term chart structure.
Musk's AI Video
In the Thursday post, Tesla's CEO shared a video made with Grok Imagine that placed him in a black tuxedo as Vito Corleone, the character Marlon Brando portrayed in the Francis Ford Coppola film "The Godfather."
The AI-generated Musk held a Shiba Inu dog — the breed behind the original Dogecoin meme — and recited a modified version of the famous scene: "You come to me on the day of my doge's wedding, and you ask me for my private key. Are you even a friend? You don't even think to call me the Dogefather."
Despite the online enthusiasm, DOGE's price remained flat in the hours after the post. It then fell alongside the broader crypto market, dropping from the recently reclaimed $0.10 level to $0.0918.
Musk's Dogecoin-related posts have historically moved the token's price, though that effect has weakened over time.
In 2021, he promoted his Saturday Night Live appearance using the "Dogefather" meme, sending the memecoin to its all-time high of $0.73 — only for it to crash roughly 40% during the broadcast after he called it a "hustle" in a sketch.
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Doge Waiting For Pump
Analyst Trader Tardigrade argued that DOGE's macro structure remains intact regardless of short-term price action. He highlighted the memecoin's behavior during previous all-time-high cycles, noting that each rally "tells the same story — because Doge makes its own rules."
According to his chart analysis, Dogecoin has moved within a multi-year range following its previous peak, reaching a market bottom before bouncing.
During the latest recovery phase, the token formed a falling wedge pattern — a formation that preceded major price expansions to new highs in prior cycles.
Trader Tardigrade said DOGE "just completed the final falling wedge" and appears "primed for the next pump." He described the current setup as a "prime accumulation window" and concluded that "Doge at $2 is inevitable."
As of this writing, Dogecoin trades at $0.094, down 2% on the day.
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