Elon Musk has played a major role in making Dogecoin one of the most recognised memecoins in the world. Created as a joke in 2013, Dogecoin gained serious momentum after Musk began tweeting about it in 2019. His lighthearted posts, memes, and references to Dogecoin as the “people’s crypto” sparked massive interest among retail investors. Each tweet often led to noticeable price spikes, showing the power of his influence on market sentiment.

In 2021, Musk’s public support reached its peak when he mentioned Dogecoin on several occasions, including during his appearance on Saturday Night Live. Although the price was highly volatile, his attention kept Dogecoin in the spotlight and encouraged millions of new investors to explore it. Musk also discussed the possibility of Dogecoin being used for real-world transactions, further fueling its credibility.

Tesla briefly accepted Dogecoin for merchandise purchases, which strengthened the idea that Dogecoin could have practical utility beyond speculation. Musk’s statements about improving Dogecoin’s network scalability and efficiency also created optimism about its development.

While critics argue that Musk’s influence adds instability and hype, supporters believe he helped transform Dogecoin from an internet meme into a widely recognised cryptocurrency. His involvement highlights the impact a single influential figure can have on the growth and perception of digital assets.