The post Dogecoin and D.O.G.E – Elon Musk’s Billionaire Crypto Experiment appeared on BitcoinEthereumNews.com.

Originally launched as a parody of crypto speculation, Dogecoin has since become the kind of speculative asset it was meant to mock — largely due to Elon Musk’s influence. His social media activity and public endorsements have played a central and ongoing role in shaping DOGE’s trajectory. BeInCrypto spoke with Erwin Voloder, Head of Policy of the European Blockchain Association, to discuss how Musk blurred the lines between parody and promotion, leading people to assign real-world value to a meme and generating ethical concerns along the way. The Genesis of Dogecoin Toward the end of 2013, software engineers Billy Markus and Jackson Palmer joined forces to create Dogecoin, the first meme coin in crypto history. Its primary purpose was to serve as a lighthearted parody of the chaotic crypto hype.  Born from the “Doge” internet meme, which prominently featured a Shiba Inu, the meme coin was intended as a humorous jab at the often illogical nature of crypto speculation. Despite its satirical origins, Dogecoin quickly gained a dedicated online following—so much so that even Tesla CEO Elon Musk became drawn to it. Today, he’s considered a key figure in the community, and Dogecoin, contrary to its initial philosophy, has become a speculative asset. “Musk’s involvement transformed Dogecoin from a satirical internet token into a speculative asset class by bestowing it with perceived legitimacy and entertainment value. His tweets and appearances turned Dogecoin into a cultural product rather than a financial one—a kind of performance art with real economic consequences. The irony is that a coin created to mock irrational investing became the poster child of irrational investing,” Voloder told BeInCrypto. In addition to symbolic endorsements, Musk has exerted concrete influence. A prime example is Tesla’s early 2022 decision to accept Dogecoin for select merchandise, significantly strengthening its position and indicating…

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Filed under: News - @ April 12, 2025 10:14 am