Elon Musk is a big supporter of the Dogecoin (DOGE) cryptocurrency, using it as a humorous experiment in the influence of memes on the crypto market. Dogecoin was created as a meme cryptocurrency, and Musk likes its informal style.
He sees DOGE as the âpeopleâs cryptocurrency.â Muskâs public support, especially through his tweets, often causes the coinâs price to spike.
Additionally, he is considering using DOGE for payments in projects such as Tesla and X (Twitter), highlighting his interest in integrating DOGE into the real economy.
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