Dogecoin’s price dates back to the end of 2013. Even if it’s a “meme coin” and a kind of a joke in the world of cryptocurrencies, the project has been around for a long time. Dogecoin’s ticker on cryptocurrency exchanges is DOGE. It has been a so-called penny currency, a coin with a meager unit price throughout its history.
The low price is mainly due to the vast number of DOGE coins on the market. For example, Bitcoin has a maximum volume of 21 million coins, but there are already more than 128 billion Dogecoins on the market at the time of writing. There is also constant inflation in Dogecoin, meaning there is no ceiling on new coins. In connection with each block (once a minute), 10,000 new Dogecoins are mined, i.e., just over five billion a year.
To learn more about Dogecoin’s history and technology, read our Dogecoin in-depth guide.
As can be clearly seen in the graphics, Dogecoin’s price has been relatively steady over the long run, well below $0.01. At regular intervals, the price has been elevated by random uproars. At times, DOGE may have pumped 100 percent in one day due to tweets posted by Elon Musk.
January 2021 witnessed a giant pump & dump process in the history of Dogecoin. At its best, the price rose by 800 percent in 24 hours, up to $0.078. All this was caused by a massive rush of minor investors buying Dogecoin, which was probably a continuation of the GameStop craze. With this skyrocketing, Dogecoin rose to the Top 10 list of cryptocurrencies. The price eventually collapsed by about 70 percent over the next day. This was hardly the last sharp rise of Dogecoin.
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