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Home / Markets / Cryptocurrency /  'Dogecoin is money': Check Elon Musk's message amid crypto rally

As dogecoin price trades above 20 cents per doge token after sliding under the psychological level earlier this month, Billionaire Elon Musk shared a meme recently on his twitter handle, proclaiming how the meme coin is not just a tool to make money but rather 'dogecoin is money.'

The meme features Hollywood actor Keanu Reeves' one of the dialogues' of Matrix movie. The edited version tweeted by Musk showed Reeves asking ''what are you trying to tell me, that I can make a lot of money with Dogecoin?". To which the response is “No Neo, Dogecoin is money," Musk tweeted. Dogecoin prices surged over 10% to $0.21, as per CoinDesk.

Musk has been responsible for pumping doge prices on several occasions by sharing various references and memes relating to the dog-themed cryptocurrency on his social media feed. The self-proclaimed 'Dogefather' recently changed his profile picture on Twitter to a headshot with Doge reflecting in his sunglasses. He is seen to be wearing mirrored, aviator-style glasses with a Shiba Inu dog reflected in them.

Dogecoin is a parody cryptocurrency created by software engineer Billy Markus and Jackson Palmer in 2013. Palmer jokingly coined the phrase “Dogecoin" to himself and took to his Twitter account to post the now-infamous line, “Investing in Dogecoin, pretty sure it’s the next big thing." It immediately sparked interest from the meme-fuelled crypto community. However, recently the Dogecoin co-creator Jackson Palmer has slammed the cryptocurrency industry, calling it 'inherently right-wing', 'hyper-capitalistic' technology.

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