Winklevoss, Musk, Cuban: Here’s who’s backing dogecoin

Dogecoin is everywhere, dogecoin is life. Or at least, that’s what some of its biggest supporters think.

The cryptocurrency, first started as a joke in 2013, became prolific online as a way to tip social media creators. Then the Reddit masses stepped in, hunting for the next big GameStop.

Since the beginning of the year, dogecoin has risen more than 12,900%. It reached an all-time high of almost $0.70 earlier this week, and has a market capitalisation of $79.8bn — more than Nintendo, CME Group, Twitter and Colgate-Palmolive.

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Here’s some of the big names who have come out in support of the cryptocurrency so far.

Elon Musk
Known to some as the Dogefather, Elon Musk has been dogecoin’s most vocal backer since its rally began earlier this year.

He is recognised among the dogecoin community as one of its strongest supporters, with every tweet he makes about the cryptocurrency causing a price rush.

Snoop Dogg
The US rapper came out in support of dogecoin in February this year, likening it to his namesake moniker. Snoop Dogg also recently sold a themed NFT from the creator of fellow animal meme Nyan Cat, which went for $33,000 on Opensea.

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Mark Cuban
The billionaire entrepreneur and owner of the Dallas Mavericks basketball team has long been a proponent of dogecoin, recently making moves to accept the cryptocurrency as payment for merchandise.

In a Twitter thread earlier this month, Cuban likened the choice to support cryptocurrencies such as bitcoin, or traditional assets such as gold, to “financial religions”. He claimed that dogecoin will continue to have value as long as it gains utility, making it necessary for companies to embrace it as a form of payment.

David Spade
Actor and comedian David Spade posted about the meme coin ahead of Musk’s appearance on long-running late-night comedy show Saturday Night Live on 8 May.

Social media chatter suggests that dogecoin may spike ahead of and during Musk’s performance, given his support for the cryptocurrency. Spade said he was “buying it as we speak”.

The Winklevoss twins
Tyler and Cameron Winklevoss are the founders of cryptocurrency exchange Gemini, which recently launched trading for the meme coin.

The two billionaire entrepreneurs have been long-time supporters of cryptocurrencies, and recently joined in the dogecoin hype. Cameron has repeated the dogecoin community’s mantra of sending the coin “to the moon”, while Tyler claimed dogecoin is the hero “we need right now”.

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Guy Fieri
The popular TV chef Guy Fieri has been on the dogecoin train for a while, but recently caused a stir earlier this week after tweeting that he was now offering doge-themed merchandise.

To contact the author of this story with feedback or news, email Emily Nicolle