Dogecoin (DOGE) isn't exactly lighting the cryptocurrency market on fire so far in 2023. In fact, the "meme" cryptocurrency is down 15.1% in the past 30 days, and it's also down 10.3% on a year-to-date basis as of Aug. 24.
Volatility seems to be the norm for the cryptocurrency ever since it was rolled out in December 2013. Gyrating prices soon followed, with Dogecoin hitting its lowest price on May 6, 2015 (at $0.0000869), and hitting a peak price of 74 cents in May 2021 thanks to a revival spurred by Tesla Inc. (TSLA) CEO Elon Musk and other famous supporters.
Musk, the crypto's self-appointed "Dogefather," has used his social media prowess on several occasions to drive up DOGE prices.
