Elon Musk Says “It’s Time” as DOGE-1 Surges 300% on Hype

Elon Musk has once again sent waves through the crypto market. The Tesla and SpaceX CEO tweeted, “It’s time.” He is reigniting his long-running association with Dogecoin. Within hours, a new memecoin called DOGE-1 surged nearly 300%. It is fueled by trader excitement and renewed optimism across the meme token scene.

DOGE-1, which shares its name with SpaceX’s long-delayed lunar mission. It saw a massive influx of trading activity following Musk’s post. The token’s rally highlights how even a brief mention from Musk can reshape sentiment and move markets. A familiar pattern for long-time Dogecoin watchers.

Musk’s Influence Sparks Another Memecoin Frenzy

Whenever Elon Musk mentions Dogecoin or anything remotely related. The crypto market tends to react fast. This time was no different. After Musk’s “It’s time” tweet, traders rushed to buy DOGE-1. Which is driving its price up by triple digits within a few hours. The surge brought back memories of Musk’s earlier market-moving posts that sent Dogecoin soaring in past cycles. Despite not directly referencing the original Dogecoin token. His message was enough to trigger speculative momentum across meme-related assets.

DOGE-1’s name adds to the intrigue, echoing SpaceX’s planned “DOGE-1 Mission to the Moon,” first announced in 2021. That project, funded entirely in Dogecoin, aimed to launch a CubeSat carrying digital art and demonstrate real-world use of crypto payments. The mission has been delayed multiple times. But remains a part of Dogecoin lore and now, apparently, of memecoin culture too.

Smart Trader “Mitch” Joins the Hype

Adding fuel to the frenzy, a well-known on-chain trader named “god.sol,” also known as Mitch, made a big move. Data from Solscan shows that Mitch spent 100 SOL (about $14,800) to buy 16.27 million DOGE-1 tokens shortly after Musk’s post.

Mitch isn’t just any trader. He has a strong track record in the memecoin scene. He is reportedly earning over $2.8 million in realized profits and boasting a 71% token win rate. His quick reaction to Musk’s tweet signals strong confidence in short-term market momentum.  It didn’t go unnoticed by crypto communities tracking his wallet.

A Familiar Pattern in Crypto Markets

This sudden rally serves as another reminder of how unpredictable memecoins can be. The combination of celebrity influence, on-chain transparency and fast-moving traders. Those who often create volatile but explosive movements.

While DOGE-1’s fundamentals remain unclear, the excitement underscores one truth. Elon Musk’s social media posts still hold unmatched power in shaping crypto sentiment. For traders like Mitch, timing is everything. This time, Musk’s simple phrase, “It’s time,” was all it took to set off another memecoin wildfire.