Elon Musk’s biography, which is set to be published later this month, is poised to reveal that the billionaire was secretly funding the development of the popular memecoin Dogecoin (DOGE).
Elon Musk and the DOGE Connection
The biography, according to the Wall Street Journal (WSJ), will also detail how the electric automobile boss planned to launch a social media platform based on blockchain technology that would incorporate payment features, using DOGE.
For the longest time possible, many netizens have speculated that Musk holds a major stake in the Dogecoin project. His statements and tweets have had a massive influence on the outlook of the coin and this has earned him the title “Doge Father”.
Earlier this year, he released a one-word tweet which sent the entire Dogecoin ecosystem into a frenzy. Musk and Rupert Murdock were seen sitting together at the NFL Super Bowl LVII game between Kansas City Chiefs and Philadelphia Eagles. Many netizens wondered what the two business magnate were discussing and Musk replied to a tweet that he was talking about “Dogecoin” with the Fox News chief.
This response caused the price of DOGE to jump by more than 5% at the time and it traded at $0.08399. Notably, the Tesla boss was wearing his Dogecoin T-shirt at the Super Bowl event.
