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Tuesday, May 17, 2022

Here’s What Elon Musk Has To Say About Dogecoin’s Joke Origins – Dogecoin – United States Dollar ($DOGE)

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has something to say on the joke origins of the meme cryptocurrency Dogecoin (CRYPTO: DOGE).

What Happened: DOGE co-creator Billy Markus said on Twitter Monday that he doesn’t understand “why people still have meltdowns about dogecoin’s origin as a joke.”

Markus said, “something can be a joke and still be useful.”

Musk tweeted in response that “the most entertaining outcome is the most likely.”

 

Why It Matters: Dogecoin was created as a joke by Markus and Jackson Palmer in 2013. 

Even so, the cryptocurrency has seen a phenomenal rise in its price and has attracted the attention of retail investors. In 2021 alone, DOGE rose almost 3000% in value.

Last week, Tesla began accepting Dogecoin on its online store and began displaying pricing of several merchandise items directly in the meme coin.

Musk, a well-known DOGE aficionado, often tweets about the cryptocurrency and has defended DOGE despite its “infinite supply” and touted its transactional capabilities.

Price Action: At press time, DOGE traded 2.8% lower at $0.17 over 24 hours.

Read Next: Will Dogecoin Reach $1 By 2023? Over 60% Say…

Photo: Courtesy of Heisenberg Media via Wikimedia

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