Elon Musk, a prominent figure in both the crypto space and other industries like electric cars and space exploration through Tesla and SpaceX respectively, played a significant role in driving up the prices of BTC and DOGE during the 2020 crisis.

However, his recent acquisition of Twitter and subsequent renaming to 'X' sparked speculation among crypto enthusiasts about the possibility of him creating his own cryptocurrency for his ventures.

Musk clarified on this platform that none of his companies would ever create a crypto token, a statement that reverberated throughout the internet and impacted market sentiment. This revelation surprised many, given Musk's previous advocacy for cryptocurrencies and his support of Dogecoin in particular.

While Dogecoin initially saw some upward movement following Musk's announcement, its performance has been mixed in recent weeks, underperforming compared to Bitcoin. However, some experts believe that Musk's decision not to launch a new token could make Dogecoin more relevant in the long term.

Despite the volatility of meme coins like Dogecoin, there is still bullish momentum predicted for its price in the coming years, with projections indicating potential for significant growth by 2030.

While Musk's recent statement may have clarified his stance on creating new tokens, his future actions in the crypto space remain uncertain, and investors should stay updated on developments.