Dogecoin shakes the foundations of global finance: How did the 'meme dog' change the markets with Elon Musk's blessing?
Here is a comprehensive and professional article about Dogecoin, covering its history, the institutions that support it, its advantages, and its official sponsors:
Introduction
Since its launch in December 2013 as a satirical joke, Dogecoin (symbol $DOGE ) has become one of the most popular and widely traded digital currencies in the world. Despite its humorous beginnings, the currency has gained support from the online community and has been adopted by numerous commercial and financial institutions, giving it a solid place in the digital payments ecosystem.
1. History and Origins of Dogecoin
Dogecoin was founded by software engineers Billy Markus and Jackson Palmer as a satirical parody of the cryptocurrency turmoil of the time. The coin's creators adopted the famous Shiba Inu dog "Doge" as the currency's logo, giving it a friendly and attractive online feel. Within a few weeks of its launch, daily trading volume reached millions of dollars, and Dogecoin has since embarked on a rapid growth journey thanks to the massive user support and active digital communities.
2. Institutions and Merchants Accepting Dogecoin
The list of companies and sites that support DOGE payments continues to expand in 2025, and the most prominent include:
AMC Theatres: Movie theater chain accepts tickets and food and beverage offers in Dogecoin through a partnership with the BitPay payment gateway.
Sports and entertainment clubs: such as the Dallas Mavericks, which allows the purchase of game tickets and team merchandise using DOGE.
Major online stores: such as Newegg for computer and electronics parts, and Travala.com for booking hotels and flights using cryptocurrencies.
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Hosting and storage services: The Value Hosted and Snel accept Dogecoin payments for cloud accounts and private servers.
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Digital gift platforms: Bitrefill offers gift cards to over 500 global stores in exchange for DOGE.
According to Cryptwerk, more than 2,500 businesses worldwide accept Dogecoin today.
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3. Advantages of Dogecoin
Transaction speed: The Dogecoin protocol relies on a block time of only one minute, allowing for faster settlement of payments compared to some other currencies.
Low fees: Transaction fees are relatively low, making it a suitable option for small payments or donations. Active Community: The currency enjoys widespread support from internet users, who organize promotional campaigns and charitable donations under the "Doge" banner, enhancing its reach and acceptance.
Integration: DOGE wallets can be easily integrated with most payment platforms and digital wallets, enhancing its ease of use in e-commerce.
4. Official Sponsors and Partners
Dogecoin Foundation: The foundation was re-established in August 2021 to promote network development and community support. It is led by an advisory board that includes experts such as Vitalik Buterin and Jared Birchall. House of Doge: The official trading arm of the Dogecoin Foundation, it recently partnered with 21Shares to launch the first Dogecoin exchange-traded product (ETP) in Europe.
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Grayscale Dogecoin Trust: In January 2025, Grayscale launched an investment fund that allows qualified investors to gain exposure to Dogecoin without having to purchase it directly on the exchange.
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Indianapolis 500 Partnership: House of Doge supported the Indianapolis 500 racing team in May 2025 and carried the DOGE logo during the event, as part of the Dogenate initiative to support children's healthcare organizations.
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Conclusion
Dogecoin is today the most popular cryptocurrency, thanks to the support of online communities and its expanding commercial and institutional acceptance. With official bodies supporting its development and strategic partnerships enhancing its reach, DOGE's journey appears set to continue to grow and influence globally. Cryptocurrency enthusiasts will continue to explore opportunities to use Dogecoin as a means of digital payment and income, while its journey is expected to witness further innovation and institutional expansion through 2025 and beyond.$BTC
1. Is Elon Musk really "adopting" Dogecoin?
Frequent Tweets
Elon Musk is considered one of the most influential figures on Dogecoin's price on the X platform (formerly Twitter). From 2020 until today, he has tweeted phrases such as “One Word: Doge” and “Dogecoin is the people’s crypto,” which caused the price to rise several times.
Wikipedia
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Personal Ownership
In 2021, Musk admitted to owning Bitcoin, Ethereum, and Dogecoin. He is one of the most public supporters of DOGE, highlighting its speed and low fees compared to Bitcoin.
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No Official Government Adoption
Despite his personal support, Musk denied in March 2025 any plans for the US government to adopt Dogecoin as an official currency or means of payment in the public sector.
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Limited Integration into His Business
Musk attempted to introduce DOGE as a means of payment on the X platform for small creators (tips). However, after X’s ownersh$$💰ip changes, this integration has diminished and is no longer central to his current strategy. Summary
Between fact and hype: Musk is a major player in the "Dogecoin phenomenon" through his influence on sentiment and the market, but he does not operate or manage the DOGE network, and there are no official government plans to adopt it.
Golden advice: Use Dogecoin for fun and experimentation with fast payments, and beware of its volatility. Invest carefully and with balance, and always stay informed of technical developments and market news.