Now one of the most well-known cryptocurrencies and the ninth-largest by market capitalization, Dogecoin (CRYPTO: DOGE) started as a joke 10 years ago.
Over the years, the cryptocurrency has gained a large following and produced strong returns for early investors.
Here’s a look back on the 10th anniversary, plus a look ahead.
Launch: The cryptocurrency was created on Dec. 6 2013 by Jackson Palmer and Billy Markus.
The coin was meant to be a satirical coin to mock Bitcoin (CRYPTO: BTC). Over time, it gained support from a loyal community.
Palmer bought dogecoin.com and connected with Markus, who had previous experience with altcoins, including making a coin based on the Bells currency in the Animal Crossing video game.
The duo made the crypto in just a couple of hours. Markus previously said much of the time on development was spent changing the font of the coin to Comic Sans.
The cryptocurrency was based on the iconic Doge meme that stars Kabosu, a Shiba Inu dog. The meme would later sell for 1,696.9 Ethereum (CRYPTO: ETH), or around $4 million in 2021 as the price of Dogecoin soared.
A profile was created on Bitcointalk.org on Dec. 6, 2013. A subreddit (r/Dogecoin) was created on Dec. 8, 2013 and the coin opened for trading on Dec. 15, 2013.
One of the early use cases for the coin was to be used as a tipping bot on Reddit.
The price of Dogecoin went from around $0.0002 to $0.002 in two weeks, marking a significant return for early investors.
The coin saw a rise in 2017 alongside other altcoins before falling in price by the end of 2018.
In 2019, Tesla CEO Elon Musk became a central figure in the digital asset’s timeline. He interacted with the coin on social media after being named the fictional CEO of Dogecoin.
“Dogecoin might be my fav cryptocurrency,” Musk replied to the poll, marking his first tweet about Dogecoin.
Musk would go on to post about Dogecoin many times going forward.
Related Link: How To Buy Dogecoin
2021 Marks Breakout Year: The 2021 year kicked off with Dogecoin becoming a trending topic on social media and the Google search engine. The coin started the year trading at $0.0047 but would quickly find its way over one penny and towards new highs.
During the 2021 year, Dogecoin trended on social media. It saw customer demand lead to the cryptocurrency getting added to…
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