Elon Musk hyped up Dogecoin but Michigan investors still call the meme-inspired crypto a gamble Today 8:00 AM This mobile phone app screen shot shows the logo for Dogecoin. Dogecoin, the digital currency advertised as the one "favored by Shiba Inus worldwide," has gained momentum with an endorsement from Elon Musk. (AP Photo/Richard Drew)AP Facebook Share In the age of the Internet, memes have become currency and billionaires have become influencers. Dogecoin was born out of a joke, but with Elon Musk’s endorsement the value of the cryptocurrency could mean real success or failure for its investors. Dogecoin originated in 2013 with the iconic Shiba Inu as its mascot. After the SpaceX and Telsa CEO started tweeting about the cryptocurrency, the stocks skyrocketed with a 12,000% increase since the beginning of 2021.