The post In DOGE We Trust – The Wild Ride of the Original Memecoin appeared on BitcoinEthereumNews.com.

Dogecoin has always been a joke, but it’s a joke that keeps on giving. Despite being an 11-year-old memecoin, Doge is one of the best performing major digital assets year to date (+42%), more people own Doge than at any other time, and Doge is dominating the crypto conversation thanks to the 2024 memecoin phenomenon. Woof. The Power of a Good Meme Dogecoin was first launched as a joke, as a satirical caricature of Bitcoin. Doge is based on the Doge meme, which features a Shiba Inu, a Japanese dog breed, making a face. The DOGE Shiba Inu Despite its non-serious origin story, Doge has had surprising staying power — capturing a loyal group of followers and growing in value over time. For the most part, this was thanks to the meme community, Twitter users, and Reddit. Collectively these fans formed one of crypto’s biggest and most loyal communities. Tesla Adds Support for Doge Dogecoin has famously enjoyed support from Elon Musk, the world’s richest man, who has claimed that users will soon be able to buy Tesla cars with Dogecoin. Fans are currently able to buy Tesla merchandise with Dogecoin. Source: Tesla Elon has even found a way to inject the DOGE meme into the US electoral conversation. Republican presidential candidate Donald Trump announced that if he wins the upcoming election on 5 November, he will establish a department of government efficiency commission led by billionaire Elon Musk, a prominent supporter. Trump outlined this plan during a comprehensive speech on his economic vision for the country. According to sources familiar with the discussions, Trump has been exploring the idea of a government efficiency commission with his advisors for several weeks. However, his address at the New York Economic Club early this month marked the first time he publicly backed…

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Filed under: News - @ September 29, 2024 9:11 pm