2013:
Launched in December, a “meme coin” featuring a Shiba Inu dog as its mascot Dogecoin, a fork of Litecoin, was born. Despite originating as a joke, it commanded a large number of supporters due to its meme potential.
On December 19, Dogecoin jumped nearly 300% in value in 72 hours, rising from $0.00026 to $0.00095.
2014:
January 2014, the trading volume (not market cap) of Dogecoin briefly surpassed that of Bitcoin and all other cryptocurrencies combined. the coin was used to successfully raise $25,000 for the Jamaican bobsleigh team to get them to the Winter Olympics in Sochi.
This was also the year Doge went from having randomized rewards received for each mining block to a static block reward system.
2015:
After nearly 2 years co-founder Jackson Palmer left the community, having come to the belief that cryptocurrency, originally conceived as a libertarian alternative to money, is fundamentally exploitative and built to enrich its top proponents. On May 7, 2015, Dogecoin bottomed at $0.00008547, its lowest price since its creation.
2016:
Nothing super eventful. Dogecoin was starting to become more popular to use to tip people small amounts on social networks, like Reddit, because it had such a tiny value and it’s meme potential. But at this point the tip bot for the dogecoin sub was already 3 years old.
2017:
Obligatory “if you would have bought X amount of Doge 5 years ago you’d have X dollars”.
Keeping this nice and simple, we’ll use a price from December 2017. Doge is rank 33, priced at $0.0059
$100 invested then would leave you with around $1,694 now (at the time of typing this)
$1,000 invested then would leave you with around $16,940 now. So on and so forth.
At the end of May 2017, Dogecoin’s trading price rose from $0.001066 on May 16 to $0.003747 on May 23, a 251% increase. By late September of the same year, the coin’s trading price fell back towards $0.001134.
2018:
In early 2018, Dogecoin’s price rose briefly, hitting nearly a 2 billion market cap, reaching a high of around .017. But it soon followed the same fate as other crypto at the time as the market collapsed sinking down 86% by December from its previous high.
2019:
The month is April and Elon Musk Dogecoin hype is becoming viral on Twitter. Jokingly declaring himself the CEO of Dogecoin. Due to his large following the price of Doge fluctuates based off of tweets.
It was also listed on Huobi and Binance this year.
2020:
Ole Musky and his Twitter antics were about to set all time highs. From memes about Doge being inevitable standard of the global financial system to his “One word: Doge” tweet sending the coin up 14%, 20% and so on through tweets and average degens shilling and joining the hype. This is also arguably the last year that the Dogecoin sub would be considered “wholesome”.
2021:
Whether through the hype of short squeezed, mania, tweets, fomo, greed or all of the above Doge had made its way into the top 5. Hitting an ATH of $0.73, as per CoinMarketcap. All seemed well until May 8th, Elon makes an appearance on SNL, Doge dropped 34% from $0.71 at the opening of the show to below $0.47 about 45 minutes later. By the following morning Doge another 43.6%. Though the rest of the market was also on its way down, and then back up…and then back down. Doge has not returned to its ATH since.
2022:
Despite how people may feel about it as of December 1st, Doge sits at $0.10 rank 8. Finding it’s self in and out of relevance through its random pumps and the other many dog related coins and Elon. It’s been accepted by a few companies along the way, Tesla, Amc, Twitch, to name a few. It seems the crypto community has a rather interesting view on Doge.
Some like it, some hate it, some hate it a little less only in comparison to the more ridiculous coins that spawned during the last bull market. Doge has seen it’s fair share of bear markets, compared to some of this subs favorites and it’s outlasted other projects that were supposed to be big. I have no doubt it’ll outlast even more.
No comments:
Post a Comment