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Dogecoin initially began trading in 2013 after searching for inspiration from a Japanese Shiba Inu meme, which inspired the currency to consult with itself as Dogecoin. The electric car maker has long been a supporter of Dogecoin and has openly declared his liking for the meme currency by disclosing his private holdings that embody substantial amounts of Bitcoin, Ethereum, and Dogecoin. This isn’t the first time Musk’s tweet has impacted the prices of Dogecoin. Again in August, Musk’s tweet referring to Dogecoin as one of the strongest cryptocurrencies had also influenced its prices the place investors saw the prices of Doge had shot up considerably after Elon Musk’s tweet went viral on social media. The recent tweet of Elon Musk accepting Dogecoin as a fee for a few of its Tesla Merch has vastly impacted the prices of Dogecoin.