Popular dog-themed meme coin, Dogecoin (CRYPTO: DOGE) ticked upwards Monday overnight after one of its biggest endorsers, Tesla CEO Elon Musk, posted an AI-generated image referencing the cryptocurrency.

What Happened: In an X post, Musk shared a picture, showing him behind a mic stand with the words D.O.G.E, standing for Department of Government Efficiency. 

"I am willing to serve," read the caption to the post shared from his official handle.