In 2013, two software engineers created Dogecoin, a cryptocurrency featuring the face of the popular “doge” meme. Initially considered a joke, Dogecoin has recently gained value, partly due to Tesla CEO Elon Musk’s influence.
Recently, Musk tweeted “Dojo 4 Doge,” resulting in a surge of interest in Dogecoin. Following his tweet, Dogecoin’s value rose by 4.28% to $0.056.
The reference to “Dojo” in Musk’s tweet likely alludes to Tesla’s Dojo Supercomputer, rumored to be involved in Tesla’s cryptocurrency dealings. This connection to a powerful computer managing Dogecoin trading sparked renewed interest in the cryptocurrency.
Musk’s public comments about Dogecoin have significantly impacted its value in recent weeks. Although Musk claims these comments are jokes, he also cares about his credibility in the cryptocurrency space. Despite facing criticism for advising Dogecoin owners to sell due to “too much concentration,” Musk’s influence continues to be a focal point for crypto investors’ attention.
