What does dogecoin have to do with Elon Musk?
Dogecoin was born in 2013 as an irreverent crypto, a joke, in which it even took the image of a Shiba Inu dog, used in several memes. In the crypto world, the DOGE used to be used to tip, nothing serious. But in 2019, Elon Musk tweeted that dogecoin might be his favorite cryptocurrency.
From there, DOGE was gaining popularity and in 2021, thanks to Reddit users, the price of the cryptocurrency multiplied by 10 in just three weeks, going from $0.06 to $0.63 in May 2021.
On multiple occasions Musk has shown his support for the cryptocurrency, making its price rise with each tweet and although it is not clear how many dogecoins the billionaire owns, records show that there is a digital wallet that has around 28% of the dogecoin. Users speculate that this wallet could be from Musk.