Elon Musk's involvement with Dogecoin has transformed it from a joke to a significant cryptocurrency. Created in 2013 by Billy Markus and Jackson Palmer, Dogecoin initially gained little traction. This changed dramatically when Musk began supporting it in 2018, twitting his affinity for the coin and eventually calling himself its CEO. His tweets contributed to Dogecoin's market cap skyrocketing and its association with popular culture intensified, especially during the 2021 bull run when it reached an all-time high of about $0.73. Musk's appearance on 'Saturday Night Live' aimed to further promote Dogecoin, but that event marked a downturn for the coin. Despite some legal challenges, including a lawsuit for alleged market manipulation, Musk's support remained strong, even as he suggested that he wasn't deeply involved in cryptocurrencies. In recent months, Dogecoin's price surged again following Musk's mention of a new government efficiency role related to his cryptocurrency support. As of late 2024, Dogecoin has seen significant interest, reaching a new high of approximately $0.43, reflecting Musk’s undeniable influence in the crypto space.

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