Elon Musk Trillionaire Returns as Tesla, SpaceX Surge: DOGE Next?

Elon Musk Returns to Trillionaire Status as SpaceX Jumps 7.6%

Elon Musk is a trillionaire again, and he is back inside the Trump administration. His net worth topped $1 trillion on Monday as SpaceX shares jumped.

Source: X Official (@alicharts)

Some traders now ask if Dogecoin is next. 

Elon Musk Named Co-Director of the Pentagon's Project Meridian Study

Defense Secretary Pete Hegseth announced the role on September 30, during a speech at Marine Corps Base Quantico. Elon Musk will co-direct Project Meridian with Anduril co-founder Palmer Luckey and former House Speaker Newt Gingrich. The Pentagon's technology chief, Emil Michael, will oversee the work.

Source: CNBC Reporting

The study runs 120 days. It looks at how war may change, with AI, robotics, autonomy and directed energy on the list. Hegseth said it is not about writing new strategies or policies. Musk's companies also hold large Pentagon contracts.

Trillionaire Again: SpaceX Jumps 7.6% and Tesla Adds to the Gains

Musk's fortune rides on two stocks, SpaceX (SPCX) and Tesla. SPCX stock listed on Nasdaq on June 12 at $135 a share, which made him the first trillionaire. The title slipped within days, and Monday's rally has now won it back. At Monday's close:

Source: Google Finance

• SpaceX (SPCX): $171.09, up 7.63% on the day,

• SpaceX market value: about $2.3 trillion, roughly 27% above its $135 IPO price

• Tesla (TSLA): $378.73, up 2.20% on the day

• Tesla market value: about $1.5 trillion

Tesla also jumped 4.65% on Friday after third-quarter deliveries beat Wall Street's estimates. SpaceX is now valued well above Tesla. 

Why Elon Musk Still Sparks Attention for Dogecoin and Meme Coins Today

Dogecoin began as a joke in 2013 and grew into one of the largest coins by market value. Its price leans on attention, and that is where Elon Musk's pull comes in. He is its loudest famous fan, known as the "Dogefather." His posts have lifted the price in short bursts, and Tesla and SpaceX have both been linked to DOGE for merchandise.

That makes any Elon Musk news a mood signal for the meme coin. Project Meridian itself has no tie to crypto or the Dogecoin network, so any lift would come from sentiment. Still, it keeps a famous supporter in the headlines.

Dogecoin Price Today: DOGE Steady Near $0.095 on About $634M in Volume

Dogecoin is holding just under the $0.10 mark. Market data, per CoinMarketCap, as of October 6:

• Price: $0.09523, a modest 0.94% dip

• Market cap: $14.87 billion, ranked #11

• 24-hour volume: about $634 million

• Circulating supply: 156.21 billion DOGE, with no maximum cap

DOGE pushed toward $0.10 on Monday and has eased only slightly since. The pullback matches the wider market, with Bitcoin down 0.45% to about $85.9K as Treasury yields stay high. Lower volume points to a calm session, not a rush for the exits.

What's Next for Dogecoin: Where Elon Musk and Market Data Can Matter

The next moves will likely come from the wider market. DOGE usually follows Bitcoin, so a steady backdrop tends to help. U.S. inflation data and Federal Reserve news in the coming weeks are worth noting. Elon Musk's posts and the strength of SpaceX and Tesla can keep attention high too. 

Bitwise's small Dogecoin fund stops trading on October 14, but it is tiny next to the coin's market value, so its effect looks limited.

Elon Musk keeps Dogecoin in the spotlight, and attention has long mattered to the coin.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Crypto markets carry significant risk. Always do your own research before making any investment decisions.