Elon Musk's Love for Dogecoin Helps Turn Joke Cryptocurrency into Unlikely Investor Darling Worth Over $274K
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Dogecoin was created in 2013 as a joke to satirize Bitcoin and featured the popular Doge meme. It gained a loyal following over the years.
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Tesla CEO Elon Musk has been a big supporter of Dogecoin since 2019, causing several price spikes when he tweets about it.
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The price of Dogecoin surged in 2021, hitting an all-time high thanks in part to Elon Musk's Saturday Night Live appearance.
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Mark Cuban is another billionaire who has voiced support for Dogecoin and had his NBA team accept it.
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If you had invested $1,000 in Dogecoin in December 2013 when it launched, it would be worth over $274,000 today even after declining from its peak.