A few years ago, not long after joining Publish0x I wrote a rather scathing article about how Elon Musk pumped DOGE, a fundamentally useless MemeCoin and used it as an exemplar of whale manipulation. Then, of course, he profited massively before the inevitable dump that followed and the downturn left many abandoned who had bought into the hype. It must be said that DOGE (and especially when compared to any other MemeCoin) has retained its profile in the public imagination as a result. SHIB INU, the so-called DOGE killer barely registers. Even Elon's Musk's short-lived governmental job had DOGE all over it - even if it did mean Department of Governmental Efficiency.
Looking back, I may have been a bit harsh on him at the time, because he was using his own funds (although his shareholders may disagree) and why shouldn't he make money (not that he needs any more). Having said that my main question mark at the time - and it is still remains the same - concerns morality. Others, often naive, jumped onto the bandwagon only to be left high and dry as a result. Even so, we all must take responsibility for our own actions. I remember a few years ago when my research seemed to suggest Khyber (remember it?) was about to pump and so I went big and the opposite happened. Losses all around, but it was my own doing and my own responsibility. I guess I could say that a whale never got hold of it.
My move, my responsibility.
In the longer term, and I have often written this and especially in recent times, the best response to a whale moving on the market is to grab hold of it's tail, which is not the easiest thing to do. In fact conversely in recent times we have seen the opposite happen when Strategy dumped their "never sell your BitCoin position" and sold 32 of them which changed the narrative possibly forever and we are still living in the shadow of that, one of the many factors that triggered the current state of the market.
So, with the market being as fragile as it is, there is an opportunity for a whale to move and Elon Musk is probably the obvious example given both his wealth and experience. What if he were to suddenly buy 100 BitCoin - current market value US$65,288.93 (checked on CoinGecko at 10:59am Central European time on 24 July 2026). This would mean an outlay of a massive US$6,528,893.00, which is way beyond the resources of everybody but the few.
Just imagine how it would galvanise the market and drive the price up... and, let's be honest with his resources, Elon Musk could probably easily buy 200 or 300 BitCoin. This in turn will set up momentum and (yes I know) it will create a bubble that will ultimately burst, and probably be accelerated when Musk were to (theoretically) dump his BitCoin, probably realistically with a profit of >100%. Such a return would be achievable with it going just a little bit higher than its current all time high of $126,080, achieved on 6th October 2025 (Source: CoinGecko) and it is anticipated to go much higher with many analysts suggesting that the next bull run could see BitCoin easily achieve US$170,000.
The key for the rest of us mere mortals, is to recognise such a move and grab hold of the whale's tail.
Another effect of such a move could be that it will drive some growth in the ALTs. At the moment the market at best is stagnating and something needs to move it and in the current climate I feel that only a whale (or group of them) are capable of turning the market around. It's a long cold winter here, even in the middle of summer.
It is just a shame that Elon Musk is too busy building spaceships!
As always stay safe and well my friends.
