Musk has been a big proponent of dogecoin over the years. Amid the post-election stock market boom, Musk's new position as co-head of DOGE sent the cryptocurrency soaring on Wednesday. It's remained high with slight fluctuations since then.

Dogecoin was once a joke, but the meme coin gained traction after Elon Musk backed it. Now he's set to co-lead a D.O.G.E. government agency. Here's a look back.

Musk and Vivek Ramaswamy were appointed by Trump to lead DOGE, which will function as an advisory committee outside of the government.