Did Elon Musk Just Back a Dogecoin Music Festival?

With three simple words, Elon Musk lit a fuse in the crypto community that could eventually lead to a Dogecoin-themed music festival: "Sounds kinda fun."

The comment came in response to a popular Dogecoin fan account who tweeted about the fictitious DogeFest, using a photo of a music festival stage edited with the token's viral Shiba Inu meme imagery. He then started a thread to suggest what the festival would entail if it were real, such as a DJ set from Musk himself, who has long championed EDM and recently teased the sale of an NFT techno song. The page also suggested that DogeFest would require Dogecoin "as payment for everything."

Once Musk chimed in, legions of crypto supporters joined the conversation to conceptualize the fest. One said that tickets should be dispensed as NFTs (non-fungible tokens), while another said that Baha Men—the group behind the iconic "Who Let The Dogs Out"—should headline.

It turns out, however, that planning for an unrelated Dogecoin-themed festival was already underway prior to the viral DogeFest moment.

An event called Dogepalooza has been in the works since as early as May 2021, when organizers filed a trademark for the name, as first reported by Benzinga. The filing notes that the event would cover the categories of "conducting entertainment exhibitions in the nature of music festivals" and "arranging and conducting festivals featuring musical groups and rock music."

Dogepalooza, which representatives called "a fun way to bring the Doge Community together to share their passion and love for Dogecoin" on the event's website, is currently being planned for fall 2021. No concrete location or dates have been announced at the time of this article's publication.

Meanwhile, Dogecoin surged today on the heels of the news that the token would be listed on Coinbase's Pro platform. As of this morning it was trading at 42 cents, giving it a $54 billion market cap and making it the sixth-largest cryptocurrency by market value, according to Coinbase. Trading is expected to launch tomorrow, June 3rd.

Musk, an early adopter of Dogecoin, took to Twitter to celebrate the news. Earlier in the day, the hashtag #DogeCoinToADollar trended on the platform.

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