Dogecoin was created as a joke in 2013 by developers Billy Markus and Jackson Palmer. It is based on the Doge meme, which depicts a Shiba Inu dog. Musk first mentioned Dogecoin on Twitter in 2019 and has since been an avid supporter of the cryptocurrency. ‘Dogefather’ Elon Musk’s influence on the price of Dogecoin is nothing new.
Though there are numerous theories about what Musk might change about Twitter once he takes over, Dogecoin supporters may be hoping that Musk will integrate the cryptocurrency into the social media platform. After all, Musk appeared to suggest in early April that Twitter Blue, the social media platform’s subscription service, could be paid for with Dogecoin.
Elon has now given more reason to believe that the price of Dogecoin will rise. Fans rushed to comment on his post, expressing their doubts. “Who is going to play Elon in a movie?” one of them asked.
Dogecoin Trillionaire, the Movie.
The world’s richest man previously stated that the meme-inspired cryptocurrency is best suited for transactions and that it is the “people’s crypto.” The cryptocurrency community on Twitter speculated that Musk could eventually transform Twitter into a decentralised social media platform, or one that is not controlled by a single entity. But Musk hasn’t said anything about it.
Now that Elon has given a glimmer of hope, the value of Dogecoin will only rise in the coming hours and days. The token hit an all-time high in May 2021, and it’s only a matter of time before it surpasses that mark. Check out his tweet below.
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