Dogecoin, created in 2013 as a joke by developers Billy Markus and Jackson Palmer, gained popularity largely due to the influence of Elon Musk. Initially obscure, Musk's endorsement in 2018 sparked interest when he tweeted about addressing a Twitter scam issue. In 2019, he claimed Dogecoin as his favorite cryptocurrency, prompting its value to surge. Musk's tweets, particularly around the 2021 bull run, often caused major price fluctuations, leading to Dogecoin achieving significant market capitalization and even surpassing some S&P 500 companies. His moniker, 'Dogefather,' emerged during a Saturday Night Live appearance in 2021. In 2022, with Tesla accepting Dogecoin for merchandise and hints of Twitter supporting it for payments, Musk faced legal challenges regarding the cryptocurrency's value claims but was ultimately vindicated. Entering 2024, Musk's political affiliations, especially with former President Trump's campaign, renewed interest in Dogecoin, elevating its value during speculation about his governmental role linked to the cryptocurrency.

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