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Elon Musk Reveals Why Dogecoin Remains His Favorite Cryptocurrency Despite New Memecoins Making Waves

Elon Musk has stated in an interview with The Wall Street Journal that Dogecoin remains his favorite cryptocurrency due to its humor and dog-related theme.

He also expressed amusement at the idea of a currency created as a joke becoming a global currency. Musk's support for Dogecoin has been influential, with the price rising 30% in April after he changed the Twitter icon to the DOGE logo.

However, he is currently facing a lawsuit from investors accusing him of illegally promoting and increasing the price of Dogecoin.

Dogecoin Dogecoin $0.39
-9.53%
Elon Musk Dogecoin
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