I am your father? Did Musk secretly create Dogecoin?

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

A parody post implying Elon Musk is the 'father' of Dogecoin appeared on Dogecoin's official social media account, reigniting rumors that he might be its hidden founder. Coupled with Bitcoin's upward trend and anticipation for the introduction of X Money payments, Dogecoin has launched a clear rebound rally, escaping a prolonged downturn.

According to cryptocurrency media Watcher.Guru on May 5 (local time), Dogecoin's (DOGE) official X account recently posted an image of Elon Musk's face composited onto Star Wars character Darth Vader, with the caption, "I am your father." In the original scene, where Luke Skywalker would be, Dogecoin's mascot Shiba Inu was placed, responding, "We know." This humorous post once again fueled speculation that Musk might be the actual creator of the meme coin.

Musk, the world's richest man, has not hidden his ardent support for Dogecoin. He has repeatedly stated that Dogecoin is his favorite cryptocurrency and praised the project's unique playful nature. In fact, he proactively introduced Dogecoin as a payment method for products from 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 likely a simple wordplay and prank to commemorate Star Wars Day on May 4, rather than an exposure of Musk as the founder.

Apart from the founder controversy, Dogecoin's price is showing a steady recovery after months of a bearish market. According to CoinGecko data, Dogecoin has risen by 1.3% in the last 24 hours, and has recorded notable 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 Bitcoin (BTC) briefly reclaiming the $81,000 level. Bitcoin and Dogecoin often show synchronized movements. Additionally, although there has been no official announcement, the market's potential expectation that Dogecoin payments might be included in X Money is also acting as a major driving force behind this upward rally.

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