Dogecoin ($DOGE), a popular meme-based cryptocurrency, was introduced on 6 December 2013 as a “fun and friendly online money.” Dogecoin is “a decentralised, peer-to-peer digital money” whose mascot is a Shiba Inu named “Doge”.
It is now the eleventh most valuable cryptocurrency, with a market cap of around $9.26 billion, mainly because to support from billionaires Elon Musk and Mark Cuban. In 2019, Musk said that $DOGE might be his preferred cryptocurrency.
Musk tweeted on June 19 that he would continue to support Dogecoin, which was not too unexpected considering that he has been praising Dogecoin on Twitter for the previous three years.
What was unexpected, however, was Musk’s response to a challenge from an anonymous crypto analyst to acquire $DOGE.
Then, CNN Company stated on July 6 that The Boring Firm, the American infrastructure and tunnel construction services company formed by Elon Musk in December 2016, has developed a method for consumers to pay for journeys on Loop, its underneath public transportation network that is now operating in Las Vegas, Nevada.
Musk tweeted shortly after the CNN Business article was published that he would continue to promote $DOGE “wherever feasible.”
The most recent statements made by the CEO of Tesla about Dogecoin were made yesterday during an interview on the “Full Send Podcast.”
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