Doge originated in 2010 when Japanese teacher Atsuko Sato posted a photo of Kabosu, a Shiba Inu dog to her blog. The picture showed the Shiba Inu on a couch with a tilted head and a puzzled expression. This image sparked an internet meme phenomenon, becoming known for its humorous Comic Sans text accompanying the dog's expressions, leading to widespread remakes and shares across platforms.
The crypto Dogecoin was established in 2013 by software engineers Billy Markus and Jackson Palmer, initially as a joke. Built from Litecoin's open-source software, it has grown to become a significant entity in digital currency, reaching a market value of $8 million shortly after its inception, driven by Reddit's popularity and memes.
Musk has remarked on his fondness for the Doge meme, attributing it to the humor and the appeal of dogs. His continued involvement with the meme is evident through various endorsements, including naming a SpaceX satellite 'DOGE-1', showcasing how the meme has transcended mere internet culture to influence business ventures.
The Dogecoin cryptocurrency gained notoriety and financial value following Musk's public endorsements, peaking at a price of $0.72 in May 2021 during a surge of meme stock trading. This illustrates the intersection of social media influence and market behavior.
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