Elon Musk affirmed Dogecoin as an unstoppable financial vehicle during an SNL appearance in May 2021, leading to significant fluctuations in its market value.
Musk's influence is clear; when he announced on Twitter a potential for Tesla to accept Dogecoin, the asset surged by 33% almost immediately.
Dogecoin was created as a satirical response to the Bitcoin hype, aiming to mock the growing industry and highlight its absurdities.
Musk consistently has a mysterious stake in Dogecoin, asserting he owns a substantial amount without disclosing specifics, fueling ongoing speculation.
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