I am your father? Did Musk secretly create Dogecoin?

▲ Elon Musk and Dogecoin (DOGE)/Source: X

Rumors are once again spreading that Elon Musk might be the hidden founder of Dogecoin, as a parody post implying he is Dogecoin's father appeared on the official Dogecoin social media account. This, combined with Bitcoin's upward trend and expectations for the introduction of X Money payments, has led Dogecoin to break free from a prolonged bear market and kick off a clear rebound rally.

According to cryptocurrency media Watcher.Guru on May 5 (local time), the official Dogecoin (DOGE) X account recently posted a photo of Elon Musk's face composited onto the Star Wars character Darth Vader, with the line, "I am your father." In the original scene, where Luke Skywalker would be, Dogecoin's mascot, the Shiba Inu, took his place and replied, "We know." This amusing post once again amplified questions about whether Musk is the actual founder of the meme coin.

Musk, the world's wealthiest man, has never hidden his fervent support for Dogecoin. He has stated on numerous occasions that Dogecoin is his favorite cryptocurrency and has praised the project's unique playful nature. In fact, he has pioneered the adoption of Dogecoin for product payments at his businesses, including Tesla and SpaceX. Furthermore, there are widespread rumors that Dogecoin payments will be added to the X Money service, which is expected to be launched to the public soon.

However, despite Musk's full support, it has not yet been clearly revealed whether he secretly created Dogecoin. According to official records, Dogecoin was co-developed by software engineers Billy Markus and Jackson Palmer in 2013. Therefore, this post is more likely to be a simple wordplay and prank to celebrate Star Wars Day on May 4, rather than an exposé of Musk as the founder.

Regardless of the founder controversy, Dogecoin's price is showing a gradual recovery, leaving behind a months-long bear market. According to CoinGecko data, Dogecoin has risen 1.3% in the last 24 hours and is showing a notable upward trend, with increases of 12.5% weekly, 16.7% over 14 days, and 23.5% over the past month.

The media analyzed that this price rebound could be a positive ripple effect from the leading cryptocurrency, Bitcoin (BTC), briefly reclaiming the $81,000 mark, as Bitcoin and Dogecoin often show synchronized movements. In addition, the market's potential expectation that Dogecoin payments may be included in X Money, despite no official announcement yet, is also acting as a major driving force behind this rally.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*