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Business Journals
3 days ago
- Business
- Business Journals
Cashing in on culture: Dogecoin and the age of ironic investing
As internet culture has developed and grown increasingly layered over the past several years, the culture's relationship to memes at large has changed dramatically. In the earliest days of internet memes, they were little more than still images punctuated with retrofitted jokes that generated a new comical meaning when paired with the image. Those days have long since passed, as memes are now often complex plays on inside jokes and niche humor. Memes can now take on a life far beyond a typical online image, with these inside jokes even manifesting in resulting actions in the real world. There is perhaps no more pressing example of this than Dogecoin. What began as an inside joke amongst a niche online community, referencing a famous early internet meme to create a new form of crypto as a parody, has become a bona fide institution of the digitized currency market. Its price movements now reflect retail enthusiasm, meme-driven speculation, and its surprising staying power in a maturing crypto market. Today, Dogecoin is a cultural and market phenomenon. Its origins may have been a joke, but the cryptocurrency has since turned into real-world trading volume. The origin and intent behind Dogecoin DOGE started as satire, yet gained traction through relatability, accessibility, and viral engagement. Established long before the cryptocurrency boom in the early 2020s, Dogecoin was largely dismissed as a joke by both the general public and serious investors. Founded in 2013, it originated from an outdated online meme known as 'doge' in internet communities. This meme featured a Shiba Inu named Kabosu, who was captured side-eyeing the camera in a humorous pose in 2010. The meme rose to fame around mid-2013. By the time Dogecoin was created in late 2013, the meme was already fading in relevance, which added to its humorous appeal for users. However, in 2021, the cryptocurrency industry experienced a boom, and social media interactions, along with celebrity endorsements, brought unexpected attention to Dogecoin. Since then, Dogecoin has consistently been a profitable coin despite challenges. As recent as November 2024, this meme coin contributed to a massive $3 trillion increase in cryptocurrency value. Consequently, what began as merely a niche online joke has transformed into a well-recognized and respected form of digital currency. What has made DOGE successful? Tweets from public figures, social media trends, and retail buying frenzies continue to drive Dogecoin price swings, often detached from traditional fundamentals. While this positions DOGE as an outsider in the cryptocurrency sphere, it also makes the coin an excellent entry point for new investors. Its high liquidity and low per-unit cost create an ideal first investing experience for many individuals. Additionally, the coin is still framed by a rich layer of internet humor, which attracts young investors out of curiosity. For many, the joke provides a digital entryway, and then the coin's accessibility encourages them to actually invest. Even if it's under the guise of irony, it's still investing, which enhances the coin's value. Irony and memes in modern culture Surprisingly, the concept of memes existed long before the internet gained popularity, dating back several decades. The term originates from the ancient Greek word mimema, meaning to imitate. However, it was Richard Dawkins, a biologist, who formally introduced the term in academia in 1972. Dawkins is best known for his influential book, 'The Selfish Gene.' Since then, the meaning and usage of memes have evolved, yet the fundamental definition remains intact. In today's digital world, memes are primarily recognized as images, videos, or online phenomena featuring humor. When something is referred to as a meme, it often suggests that it is perceived not genuinely but through a lens of postmodern irony. An incredibly popular example of irony-laden success, reminiscent of Dogecoin's journey in many ways, was the recent financial achievement of 'A Minecraft Movie.' Despite its infamously poor marketing, the film's box office success was propelled by a younger audience's familiarity with the source material and the viral nature of the trailers. Many viewers attended the film ironically, performatively reacting for social media, yet the movie succeeded immensely. Why Dogecoin's legacy might outlast the joke While Dogecoin may have started as little more than an inside joke, it has since become an integral part of the crypto market. The fact that the coin isn't regarded as seriously as other tokens such as bitcoin or Solana has contributed to its success, with DOGE serving as a gateway crypto investment for many. Its popularity demonstrates the power of digital community, showing that collective humor and cultural momentum can have real financial outcomes.
Japan Times
18-02-2025
- General
- Japan Times
Shiba inu Kabosu continues to be loved after death
Sakura, Chiba Pref. – Kabosu, the shiba inu known as the logo model for a cryptocurrency, remains hugely popular even after her death last May, with fan letters flooding in from around Japan. The female shelter dog was adopted in 2008 by Atsuko Sato, 63, a resident of the city of Sakura, Chiba Prefecture. An appealing image of Kabosu that Sato posted on her blog in 2010 earned the dog worldwide popularity, and cryptocurrency Dogecoin was created using Kabosu as its logo.
Yahoo
06-02-2025
- Entertainment
- Yahoo
What does ‘DOGE' mean? Why new government department shares its name with viral 2010s meme
"Doge to the moon!" "Doge to the White House!" One meme is seemingly still going viral and worming itself into popular culture over a decade later — mostly thanks to Tesla CEO and SpaceX founder Elon Musk. Doge memes are still going strong in 2025 due to the South African-American billionaire and his role in President Donald Trump's administration. But what exactly is "Doge" and why has it been everywhere since 2010? From silly dog photos to a newly established advisory group, here is what to know about Doge and his various forms. The Doge meme is a slang term for "dog," showcasing photos of a Shiba Inu with its raised eyebrows and glaring sideways at the camera. Silly, sarcastic messages written in Comic Sans font will typically accompany the meme. The original photos came from Japanese teacher Atsuko Sato, who posted the photos of her rescue-adopted dog Kabosu to her blog. The first use of the meme is unknown; however, it became popular online in the early 2010s with Reddit and Tumblr users, according to Know Your Meme. Kabosu died in May of 2024. Sato announced the death of the 18-year-old Shiba Inu in a tribute post on her blog, adding she died in her arms. "Thank you all so much for loving Kabosu all these years. I am certain that Kabosu was the happiest dog in the world," Sato said. "That makes me the happiest owner in the world." Social media users around the world mourned the loss of Kabosu, thanking the dog for its impact on pop culture and their lives. Musk also shared a tribute to the dog, tweeting a photoshopped picture of Kabosu with fellow meme'd animal, Harambe the Gorilla. Musk has been vocal over the years about his love of memes, flooding his social media accounts with photos and quotes from viral items. He once referred to them as 'modern art" in 2019 and the following year tweeted "Who controls the memes controls the universe." As for his specific love for "doge," it's a little harder to track Musk's origins with the meme. According to Business Insider, he once cited his interest in the meme to the fact that it has dogs and "the best humor." The meme has now become an emblem for Musk and his supporters online, with his X followers typing in the same speech pattern and photoshopping the dog into pictures with Musk. Inspired by the meme, software engineers Billy Markus and Jackson Palmer created the cryptocurrency "Dogecoin" in 2013 as a joke on the surge in other digital coins. However, USA TODAY reported it became one of the most popular "meme stocks" amid a boom in retail trading and a viral trend to get the coin to a dollar during the COVID-19 pandemic. Musk became associated with the cryptocurrency in 2019 after tweeting that it was his favorite. He also joined social media users in declaring "Dogecoin to the moon" and shared that Tesla would accept the currency as a means of payment for the company's merchandise. Dogecoin's price peaked in May 2021 at $0.72. As of Feb. 6, 2025, it is worth $0.26. Musk was also accused of insider trading by investors in June 2023 due to his announcement of allowing it as a form of payment and also changing the logo of Twitter to Doge. He ended up winning the dismissal of the $258 billion federal lawsuit in August after the court deemed he did not defraud investors by hyping up Dogecoin or conduct insider trading, according to Reuters. DOGE stands for "Department of Government Efficiency," which was started by Trump during his first day of the presidency on Jan. 20. NPR shared Trump didn't "create" the department; rather it was renamed from the previously existing United States Digital Service, which was created under former President Barack Obama. And it's not a department, despite the name. Trump tapped Musk and former GOP presidential opponent Vivek Ramaswamy as the heads of the advisory group. Ramaswamy exited the position last month, instead running for governor of Ohio. Musk is not a federal employee. White House officials state Musk is a "special government employee." According to Reuters, Trump first floated the idea of Musk becoming an advisor to his administration in August 2024. Musk responded to Trump by tweeting an AI-generated photo of himself in front of a podium marked "Department of Government Efficiency." Trump's executive order establishes the Department of Government Efficiency to implement the President's DOGE Agenda by "modernizing Federal technology and software to maximize governmental efficiency and productivity." According to Trump himself last year, DOGE will provide advice and guidance from outside of the government, and it will partner with the White House and the Office of Management and Budget to "drive large-scale structural reform, and create an entrepreneurial approach to Government never seen before." As of February 2025, the group has rapidly taken over the U.S. government's main human resources and foreign aid arms. USA TODAY reported Musk's actions have caused uproar across the federal workforce in a matter of weeks. Contributing: Jonathan Limehouse, USA TODAY This article originally appeared on Florida Today: Elon Musk sees controversy with 'DOGE' group. What does 'doge' mean?
USA Today
06-02-2025
- Entertainment
- USA Today
What does ‘DOGE' mean? Why new government department shares its name with viral 2010s meme
What does 'DOGE' mean? Why new government department shares its name with viral 2010s meme Show Caption Hide Caption Protest outside USAID offices after Elon Musk vows to shut agency down Protesters gathered outside the USAID building in Washington, D.C., after Donald Trump and Elon Musk vowed to shut the agency down. "Doge to the moon!" "Doge to the White House!" One meme is seemingly still going viral and worming itself into popular culture over a decade later — mostly thanks to Tesla CEO and SpaceX founder Elon Musk. Doge memes are still going strong in 2025 due to the South African-American billionaire and his role in President Donald Trump's administration. But what exactly is "Doge" and why has it been everywhere since 2010? From silly dog photos to a newly established advisory group, here is what to know about Doge and his various forms. What does 'Doge' meme? Why is the dog called doge? The Doge meme is a slang term for "dog," showcasing photos of a Shiba Inu with its raised eyebrows and glaring sideways at the camera. Silly, sarcastic messages written in Comic Sans font will typically accompany the meme. The original photos came from Japanese teacher Atsuko Sato, who posted the photos of her rescue-adopted dog Kabosu to her blog. The first use of the meme is unknown; however, it became popular online in the early 2010s with Reddit and Tumblr users, according to Know Your Meme. Is the Doge meme dog alive? Kabosu died in May of 2024. Sato announced the death of the 18-year-old Shiba Inu in a tribute post on her blog, adding she died in her arms. "Thank you all so much for loving Kabosu all these years. I am certain that Kabosu was the happiest dog in the world," Sato said. "That makes me the happiest owner in the world." Social media users around the world mourned the loss of Kabosu, thanking the dog for its impact on pop culture and their lives. Musk also shared a tribute to the dog, tweeting a photoshopped picture of Kabosu with fellow meme'd animal, Harambe the Gorilla. Why does Elon love the Doge meme? Musk has been vocal over the years about his love of memes, flooding his social media accounts with photos and quotes from viral items. He once referred to them as 'modern art" in 2019 and the following year tweeted "Who controls the memes controls the universe." As for his specific love for "doge," it's a little harder to track Musk's origins with the meme. According to Business Insider, he once cited his interest in the meme to the fact that it has dogs and "the best humor." The meme has now become an emblem for Musk and his supporters online, with his X followers typing in the same speech pattern and photoshopping the dog into pictures with Musk. Is DOGE a cryptocurrency? How much is 'Dogecoin' worth? Inspired by the meme, software engineers Billy Markus and Jackson Palmer created the cryptocurrency "Dogecoin" in 2013 as a joke on the surge in other digital coins. However, USA TODAY reported it became one of the most popular "meme stocks" amid a boom in retail trading and a viral trend to get the coin to a dollar during the COVID-19 pandemic. Musk became associated with the cryptocurrency in 2019 after tweeting that it was his favorite. He also joined social media users in declaring "Dogecoin to the moon" and shared that Tesla would accept the currency as a means of payment for the company's merchandise. Dogecoin's price peaked in May 2021 at $0.72. As of Feb. 6, 2025, it is worth $0.26. Musk was also accused of insider trading by investors in June 2023 due to his announcement of allowing it as a form of payment and also changing the logo of Twitter to Doge. He ended up winning the dismissal of the $258 billion federal lawsuit in August after the court deemed he did not defraud investors by hyping up Dogecoin or conduct insider trading, according to Reuters. What does DOGE mean for the U.S. government? DOGE stands for "Department of Government Efficiency," which was started by Trump during his first day of the presidency on Jan. 20. NPR shared Trump didn't "create" the department; rather it was renamed from the previously existing United States Digital Service, which was created under former President Barack Obama. And it's not a department, despite the name. Trump tapped Musk and former GOP presidential opponent Vivek Ramaswamy as the heads of the advisory group. Ramaswamy exited the position last month, instead running for governor of Ohio. Musk is not a federal employee. White House officials state Musk is a "special government employee." According to Reuters, Trump first floated the idea of Musk becoming an advisor to his administration in August 2024. Musk responded to Trump by tweeting an AI-generated photo of himself in front of a podium marked "Department of Government Efficiency." What does the Department of Government Efficiency do? Trump's executive order establishes the Department of Government Efficiency to implement the President's DOGE Agenda by "modernizing Federal technology and software to maximize governmental efficiency and productivity." According to Trump himself last year, DOGE will provide advice and guidance from outside of the government, and it will partner with the White House and the Office of Management and Budget to "drive large-scale structural reform, and create an entrepreneurial approach to Government never seen before." As of February 2025, the group has rapidly taken over the U.S. government's main human resources and foreign aid arms. USA TODAY reported Musk's actions have caused uproar across the federal workforce in a matter of weeks. Contributing: Jonathan Limehouse, USA TODAY
