Two of tech’s most prominent leaders, Elon Musk and Mark Zuckerberg, recently set social media ablaze, agreeing to a comedic “cage fight” challenge. 

A tweet exchange that seemed straight out of a high-profile TV drama had followers debating, memeing, and mock advertising their imagined bout. 

However, the effect this spectacle had on DOGE, which surged 3.5%, displayed the unpredictable, fascinating, and intertwined nature of crypto with the personal shenanigans of tech leaders.

DOGE reacts to the showdown

DOGE, a pet project of Musk, couldn’t resist getting in on the action. Within hours of Musk’s fight announcement, DOGE’s price experienced an uptick. 

Trading at $0.0662 as of June 22, the satirical currency gained nearly 3.5% in value in the previous 24-hours.

This was a perfect demonstration of the deep-seated influence that influential figures can wield over the crypto market, regardless of whether it involves a serious business move or a laugh-out-loud personal dare.

Tech rivalry at play

Beyond the humorous façade, the Musk-Zuckerberg face-off echoes a larger rivalry in the tech space. Meta recently revealed plans for a text-based social network potentially rivaling Twitter. 

This development could reshape the battle lines in the social media realm, providing a fresh stage for tech leaders to engage, entertain and shock their audience, while indirectly influencing the cryptocurrency market.