Elon Musk waded back into the money-meets-energy debate on X today, endorsing Bitcoin and Dogecoin.

The Tesla CEO replied to a viral ZeroHedge thread that framed artificial intelligence as a government-funded arms race that will turbocharge monetary debasement. “True. That is why Bitcoin is based on energy: you can issue fake fiat currency, and every government in history has done so, but it is impossible to fake energy,” Musk wrote, aligning BTC ($92,470.00)’s value proposition with physical power constraints.

Minutes later, when community account Sir Doge of the Coin (@dogeofficialceo) added, “Dogecoin is also based on energy,” Musk replied with a simple “,” his first explicit nod toward DOGE ($0.14) in a while, rekindling a long-running price-sensitivity question around his posts.

Dogecoin is also based on energy pic.twitter.com/E8BMmAIdm9

— Sir Doge of the Coin (@dogeofficialceo) October 14, 2025

The market reaction, however, was muted. As of press time, Dogecoin traded near $0.196, lower on the day alongside broader crypto risk, with Bitcoin and Ethereum also in the red. Bitcoin was down on the session near $111k, while Ethereum slipped below $4k, underscoring a risk-off tape that likely blunted any “Musk effect” impulse.

Musk’s DOGE remarks arrive amid a separate swirl of Dogecoin-adjacent headlines that caught Washington’s and Wall Street’s attention over the last 48 hours. Representative Matt Gaetz amplified a viral thread, asking, “Is DOGE about to become the world’s great utility token? After being a meme?!” — a rhetorical riff that referenced news circulating about a planned public-markets pivot by House of Doge as the “corporate arm” of the Dogecoin Foundation.

Is DOGE about to become the world’s great utility token?

After being a meme?! https://t.co/wVXO7eijss

— Matt Gaetz (@mattgaetz) October 13, 2025

House of Doge intends to list on Nasdaq via a merger with Brag House Holdings under the ticker TBH, and they also tie House of Doge to a growing Dogecoin treasury effort at CleanCore Solutions, newly branded on the NYSE American as ZONE. The October 13 releases further assert that CleanCore now holds 730 million+ DOGE, targeting up to 1 billion DOGE in the near term and, longer-run, “up to 5%” of circulating supply.

Why Hasn’t The Dogecoin Price Reacted Positively?

Historically, Musk’s DOGE interactions have triggered sharp, if often fleeting, price responses. During late 2024, for example, a single “true” reply in a payments-context thread coincided with a pop as traders extrapolated X-payments tie-ins, and the October 2024 launch of a dedicated account for its payments initiative on X.

More recently, in June 2025, DOGE jumped 3% after Musk defused a political spat. The common denominator: reflexive liquidity and headline-driven order flow that fades unless there’s a real impact on the meme coin. Today’s sequence fits that pattern — a high-engagement Musk quip, immediate social virality, but price constrained by macro tape and the absence of a concurrent, verifiable product or policy reveal.

So why didn’t DOGE “go to the moon” on the ? First, the tape matters. With majors heavy, meme-beta typically underperforms. Second, the information content of the post is modest: Musk endorsed an energy-based framing and acknowledged a community meme — not a new X Payments feature, not a Tesla-commerce integration, not a tangible DOGE settlement rail. Markets have learned to differentiate between tone and transaction.

At press time, DOGE traded at $0.19862.