Elon Musk & Dogecoin: The Shocking Crypto Journey
Dogecoin – From Meme Coin to Phenomenon
Launched in 2013 by Billy Markus and Jackson Palmer, Dogecoin was initially created to parody the altcoin craze. However, the coin quickly attracted a community thanks to its humor and accessibility. It wasn’t until 2018 that Elon Musk really “touched” DOGE, when he interacted with Palmer on Twitter about the bot and scam problem.
2019: When Elon Musk Started to “Shill” Dogecoin
Just a simple tweet — “Dogecoin might be my favorite cryptocurrency” — helped DOGE’s market cap hit $400 million. Musk briefly dubbed himself “CEO of Dogecoin” on Twitter, then kept posting memes, sparking sudden price waves.
2020 – 2021: The Peak With the Title “Dogefather”
During the 2021 bull run, Dogecoin became one of the hottest names in the market. Its market cap surpassed many S&P 500 companies, Coinbase Pro listed DOGE, and the community grew rapidly. Musk even appeared on Saturday Night Live with the nickname Dogefather, pushing DOGE to its all-time high around $0.73. Although the price dropped afterward, Dogecoin had officially entered the mainstream.
2022: Tesla, Twitter, and Legal Storms
Tesla began accepting Dogecoin for merchandise, while Twitter (now X) hinted at the possibility of integrating DOGE as a payment option. But Musk faced a massive $258 billion lawsuit accusing him of market manipulation. Fortunately, in 2024, the court declared Musk “not guilty,” ruling that his statements about DOGE were humorous and not reasonable grounds for investment.
2024 – 2025: Politics, Trump, and DOGE
When Donald Trump returned to the White House, he announced that Elon Musk would head the Department of Government Efficiency (DOGE)—a government agency whose acronym matched Dogecoin’s ticker. This repeatedly boosted DOGE’s price.
However, the Trump–Musk relationship quickly soured, leading to public disputes that negatively impacted Dogecoin’s price.
Present: Dogecoin Remains the #1 Meme Coin
After leaving his government role, Musk refocused on Tesla, SpaceX, and X. Although he insists he’s not “actively involved in crypto,” Musk continues to mention Dogecoin because he “likes dogs, memes, and humor.” Recently, Musk’s personal lawyer, Alex Spiro, joined the Dogecoin Treasury, further strengthening DOGE’s position as the leading meme coin in the market.
Conclusion
Elon Musk and Dogecoin make up one of the most fascinating stories in crypto history. From an internet joke, Dogecoin became a global phenomenon thanks to the immense influence of the “Dogefather.” Despite volatility, DOGE still holds a special place in the community—as both a coin and a cultural symbol.
Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.