Elon Musk’s Influence on Dogecoin’s Meteoric Rise
- Dogecoin, created in 2013 by Billy Markus and Jackson Palmer, is the oldest meme coin.
- Elon Musk began promoting Dogecoin in 2019, significantly boosting its market cap to $400 million.
- In 2021, Dogecoin reached an all-time high of $0.73 during a bull run fueled by Musk’s tweets and media appearances.
- Musk’s companies, Tesla and SpaceX, accepted Dogecoin for merchandise and funded a satellite launch with it.
- A $258 billion lawsuit against Musk for allegedly pumping Dogecoin was dismissed as “aspirational and puffery.”
Elon Musk’s public endorsements have played a crucial role in elevating Dogecoin from obscurity to mainstream recognition, driving its market cap to significant heights.
Source (2.6)https://decrypt.co/291361/elon-musk-dogecoin-timeline-explained?rand=52368
