Dogecoin (DOGE) Price History: What Price Did DOGE Start At?

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Dogecoin ($DOGE) might be essentially the most well-known meme-inspired cryptocurrency, each within the crypto world and outdoors of it, principally due to the endorsement of varied celebrities, together with Elon Musk. However the place did the value of DOGE begin at?

DOGE began as a memecoin in 2013 —a joke to make enjoyable of speculative cash and the cryptocurrency trade as an entire (and the way folks obtained into crypto with out realizing the fundamentals of a coin.) However what began as satire turned one of many high cryptocurrencies by market capitalization —over $9 billion as of December 2022, due to an explosion in search interest for it.

Dogecoin’s Value in 2013: Authentic Value

DOGE’s original price in December 2013 went from $0 to $0.0004 within the first days of buying and selling. Within the first two weeks, the coin noticed an enormous upward spike, leaping 300% after China prohibited banks from coping with cryptocurrency.

The value of DOGE fell abruptly to $0.0003 once more on the finish of the yr and floated round these ranges till January 2014.

Dogecoin in 2014: Outperforming The Market

Dogecoin’s buying and selling quantity quickly noticed one other large spike in January 2014, outperforming Bitcoin, Ethereum, and your complete crypto market, reaching a value of $0.0020, or one other a thousand-percent improve.

Throughout that point, the coin remained common within the underground niches of the crypto world. It rapidly developed its personal neighborhood in 2014. Dogecoin didn’t have a variety of use instances moreover speculative buying and selling, because it didn’t actually have a whitepaper on the time.

It quickly began attracting extra folks following the creation of DogeTipBot, a micro-tipping service permitting customers to tip for on-line companies, and might be redeemed for different cryptocurrencies. This service opened the door for broader adoption (though small), together with non-crypto folks.

DOGE was then utilized by its neighborhood to donate over $170,000 value of DOGE to charity. Considered one of these donations went to the Jamaican bobsled crew to assist them compete on the Sochi Winter Olympic video games.

DOGE’s lowest value since its creation got here in early 2015; the coin had misplaced the neighborhood’s curiosity, reaching $0.0000869.

Dogecoin’s Value in 2017 – 2019: New All-Time Highs

DOGE didn’t see one other important spike in buying and selling quantity till March 2017, when the coin surged 1,500%, reaching $0.0042, a brand new all-time excessive for the memecoin.

In January 2018, DOGE peaked once more, this time spreading FOMO because it reached a value of $0.018. However 2018’s crypto crash was lurking. Quick ahead to the summer season of 2019, the DOGE neighborhood cherished the second when Binance lastly listed the coin. As a result of aftermath of 2018’s crash and the general trade shedding 80% of its market capitalization, DOGE had the identical destiny as different digital property, and the coin remained flat till 2020.

Dogecoin 2020 – 2021: Elon Enters the Sport

Elon Musk marked a earlier than and after for Dogecoin (and the entire market as effectively). Musk has been a distinguished supporter of Dogecoin since early 2021. His statements concerning the coin by means of social media and tv catapulted the coin over 400% in January, reaching a value of $0.32.

Musk took a step additional by stating that he’ll work with Dogecoin builders to boost sure coin options, primarily, transaction pace and infrastructure effectivity. He additionally talked about the potential for SpaceX, Musk’s spacecraft producer, accepting DOGE as cost for merchandise.

Throughout the first months of 2021, DOGE traded between $0.32 and $0.34. By Might, it noticed its greatest value improve, surging practically 10,000%, reaching $0.74. The concern of lacking out (FOMO) was taking on the mainstream and the crypto neighborhood, main folks to place their cash —and even life financial savings— into the meme-inspired coin to hopefully reap rewards.

Dogecoin, naturally, wasn’t deemed applicable for the institutional giants and hedge funds who had been somewhat exploring Bitcoin and Ethereum, launching exchange-traded funds (ETFs) and buying and selling desks for personal purchasers.

The endorsement was principally coming from celebrities and influencers. The impact of opinion leaders has a significant impact on merchandise, corporations, property, and cryptocurrencies.

Influencer advertising and marketing is usually a harmful double-edged sword. It’s recognized that 80% of consumers usually tend to buy one thing if a famend particular person promotes or talks concerning the product. This, in fact, led to some controversial takes that Musk was pumping DOGE to his profit. In mid-2022, a gaggle of buyers sued Musk, stating that he and his corporations had been intentionally inflating the value of DOGE. The lawsuit expanded in September, now being sued for $258 billion in damages.

Dogecoin’s Value These days

DOGE is on the time of writing down 89% from its all-time excessive, buying and selling at $0.0744 and with a circulating provide of roughly 132 billion cash.

DOGE, like all cryptocurrencies, went down along with the general crypto market at first of 2022, catapulted by the TerraUSD collapse and, months later, the FTX meltdown. In December, Dogecoin’s market cap surpassed Coinbase, which had a market cap of $8 billion, whereas Dogecoin had $9 billion.

Remaining Ideas

What began as a joke is now a $9 billion market-cap cryptocurrency, liked by many and proportionally hated by others as effectively.

We might see a significant value spike for Dogecoin if Area X and different corporations begin accepting the coin as a method of cost. Nevertheless, sure points are pending, like low transaction pace and low scalability, which is a typical downside of PoW-based blockchains.

FAQ

Is Dogecoin a Price Investing In?

No funding is secure, and the worthiness will depend upon the dealer/investor. Customers ought to solely make investments what they will afford to lose. In case you are uncertain concerning the suitability of your funding search skilled recommendation.

Who Created Dogecoin?

Billy Markus and Jackson Palmer are the founders and builders of Dogecoin, an open-source cryptocurrency undertaking with a limiteless provide. Its blockchain infrastructure was derived from Litecoin, a cryptocurrency born as a fork within the Bitcoin blockchain in 2011.

The place Can I Commerce DOGE?

DOGE might be traded in virtually all crypto exchanges, like Binance, Kraken, Huobi, and Coinbase. Sure conventional exchanges additionally assist the token, together with Robinhood and eToro.