With bearish sentiment taking hold of crypto markets, DOGE dropped to $0.04972 on 18 June, its lowest level since early 2021. The price plummeted to $0.07004 on 12 May as cryptocurrency markets reacted to the collapse of the terra luna cryptocurrency and the US dollar reaching 20-year highs. DOGE dropped to $0.1107 on 13 March before making another attempt at the $0.17 level on 5 April. The coin rebounded to $0.1716 on 7 February, but was unable to hold at that level. DOGE climbed to $0.2819 on 24 October, but turned bearish into 2022 along with the broader markets, remaining in a downward trend with lower highs and lower lows.ĭOGE started the year at $0.1705 and moved up to $0.2032 on 14 January, but then sold off to $0.1272 on 24 January. It fell further to $0.1607 on 20 July, when cryptocurrency markets found a bottom.Ī summer rally brought the price up to $0.351 on 16 August but it fell again to $0.1945 on 26 September. Musk referred to dogecoin as a “hustle”, despite having talked it up in previous weeks.ĭOGE was trading down around $0.30 by the end of May 2021, defying the most bullish dogecoin prediction for the price to exceed $1. It then quickly dropped in a “sell the news” response to Musk appearing on the Saturday Night Live TV show in the US. The DOGE price soared from $0.004681 at the start of 2021 to its all-time high of $0.7376 on, a gain of more than 15,650%. The DOGE price can be highly volatile, even in the context of cryptocurrency markets, as social media communities often drive large spikes in its value and subsequent crashes that generate mainstream media coverage.ĭogecoin price analysis shows that the coin was relatively stable from 2013 until the cryptocurrency markets took off in 2021. While past performance should never be taken as an indicator of future results, knowing what the crypto has done in the past can help give us some much needed context when it comes to either interpreting a dogecoin coin price prediction or making one of our own. Let’s now cast our eyes over some of the DOGE price history. The foundation is led by members of the original development team as well as advisers, core developer Max Keller, Ethereum ( ETH) co-founder Vitalik Buterin, and Jared Birchall, representing Elon Musk. Support for the dogecoin cryptocurrency through development and advocacyĭogecoin trademark defence to prevent abuse and fraudĪ roadmap and governance for the future of Dogecoin. According to the foundation’s website, it aims to provide: The foundation was later dissolved, but it relaunched in 2021 as the coin attracted new investors and the price soared. The Dogecoin Foundation was launched in 2014 to provide a governance and support framework for the project’s community development. Musk tapped into the social media hype around the coin, tweeting that it was “the people’s crypto”. The dogecoin price took off in 2021 as cryptocurrency markets rallied, gaining popularity on social media and prompting the launch of other shiba inu dog-themed coins.Īs the project took on a life of its own, building up a large community, Markus and Palmer left the project and there was no development on the protocol. Luckycoin was a hard fork, or spin-off, from the litecoin ( LTC) cryptocurrency, which in turn was a hard fork from bitcoin.Īlthough DOGE started as a joke it soon gained popularity among crypto users, as its low value, launching at $0.000232, made it convenient for small online transactions, such as tipping content creators on social media platforms. Markus and Palmer based the Dogecoin blockchain protocol on the open-source coding of the now-defunct luckycoin cryptocurrency. The cryptocurrency tapped into the popular Doge meme featuring a shiba inu dog, which became the coin's namesake and logo. The first of the dog-themed meme coins, DOGE was originally launched in 2013 by software engineers Billy Markus and Jackson Palmer, who worked at IBM ( IBM) and Adobe ( ADBE), respectively, as a satire on the proliferation of competitor coins, known as altcoins, attempting to capitalise on the success of bitcoin ( BTC). The dogecoin price skyrocketed by 1,234% from April 2021 to peak at an all-time high of $0.7376 the following month. The $258bn lawsuit was filed in June by investors who have lost money on the token, arguing that the defendants “profited tens of billions of dollars” while knowing that the value of dogecoin “depended solely on marketing”. DOGE returned to the headlines in September 2022 as an amended lawsuit against Tesla ( TSLA) CEO Elon Musk filed in a New York court added seven new investors as plaintiffs, as well as six new defendants, accusing them of racketeering.
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