Elon Musk’s “It’s Time” Post Sends DOGE-1 Soaring 300% Before Sharp Pullback

Elon Musk’s “It’s time” post drove DOGE-1 up nearly 300% before a quick market correction.

On-chain trader “god.sol” bought 16.27 million DOGE-1 tokens after Musk’s post, fueling attention.

DOGE-1 outperformed Dogecoin as liquidity rotated toward smaller meme tokens amid risk-off markets.

Elon Musk once again stirred the Dogecoin community with a short post on X reading, “It’s time.” The message revived excitement around Dogecoin and its related token DOGE-1, which surged nearly 300% soon after. On-chain data later revealed a major trader making notable DOGE-1 purchases.

Musk’s Post Triggers DOGE-1 Surge and Meme Market Activity

Elon Musk reignited Dogecoin chatter this week after responding to DogeDesigner (@cb_doge), who reposted Musk’s 2021 statement that SpaceX would “put a literal Dogecoin on the literal moon.” Traders immediately began positioning across the meme token space, searching for short-term opportunities.

Dogecoin itself saw limited reaction, dipping near $0.16 early on November 5 as Bitcoin and Ether also declined. However, attention shifted to DOGE-1, a meme token named after the planned CubeSat mission financed in Dogecoin. According to Lookonchain, DOGE-1 jumped about 300% after Musk’s post before retreating 17.4% to $0.73 later in the session.

The DOGE-1 mission remains active, developed by Geometric Energy Corporation and scheduled for launch on a SpaceX Falcon 9 in late 2025 after several delays. The renewed talk around the mission fueled speculative trades, echoing earlier Dogecoin rallies tied to Musk’s online activity.

On-Chain Trader “god.sol” Acquires 16.27 Million DOGE-1 Tokens

Blockchain data tracked by Lookonchain identified a well-known trader, god.sol (Mitch), acquiring 16.27 million DOGE-1 tokens using 100 SOL, worth about $14,800. The wallet has previously earned over $2.8 million from memecoin trades through fast entries and exits.

Despite the surge, traders remained cautious amid a weaker market backdrop. Broader crypto prices fell as risk appetite faded and Bitcoin dropped around 10% midweek. Market participants described conditions as risk-off, with quick profit-taking and defensive positioning across tokens.

Analysts noted that liquidity rotation into large-cap assets explains DOGE’s muted performance compared with DOGE-1’s brief rally. As conditions improve, market attention may return to on-chain activity and SpaceX updates that could renew speculative energy around both Dogecoin and DOGE-1.

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