Motley Fool
Can Elon’s Musk Resurrect Dogecoin?
2021 was the year of the doge, at least up until May. A popular meme cryptocurrency called Dogecoin (CRYPTO: DOGE) rocketed from a price of $0.005 per token to an all-time high of $0.74 in the space of five months, generating a return of about 150 times. Musk had spent several months promoting Dogecoin on Twitter and would then famously appear on Saturday Night Live, where he was widely expected to mention the meme token. Well, Dogecoin has failed to evolve into a currency worth adopting for real-world use, and the speculation fever inevitably ran its course.