If You Had Invested $100 in Dogecoin When It Launched, Here’s What You’d Have Today
Created as a playful experiment in 2013, Dogecoin (CRYPTO: DOGE) has grown into one of the most prominent and discussed cryptocurrencies on the market. Recent political developments, including Donald Trump’s victory in the 2024 presidential election, have sparked optimism in the crypto sector, potentially signaling a more favorable regulatory environment.
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The Birth of Dogecoin
Dogecoin was introduced in 2013 by Jackson Palmer and Billy Markus as a lighthearted take on Bitcoin (CRYPTO: BTC). Initially conceived as a parody, it rapidly gained traction thanks to its passionate and loyal community.
Palmer, who purchased the domain Dogecoin.com, collaborated with Markus, an experienced altcoin developer who had previously worked on projects like a currency inspired by the Animal Crossing video game. Together, they created Dogecoin in just a few hours, with Markus humorously noting that much of the time was spent changing the coin’s font to Comic Sans.
Dogecoin’s branding was built around the iconic Shiba Inu Doge meme, a humorous and widely recognized internet sensation. The coin made its debut on Bitcointalk.org on December 6, 2013, followed by the launch of its subreddit (r/Dogecoin) on December 8, 2013. Trading began shortly after, on December 15, 2013. Initially priced at $0.0002, the coin quickly rose to $0.002 within two weeks, delivering remarkable returns for its earliest investors.
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The Rise of Dogecoin
Dogecoin gained popularity as a tipping mechanism on Reddit, rewarding users for their contributions. It surged in 2017 during a broader altcoin boom but experienced a significant decline in 2018. Despite this, its community remained resilient, with several key moments driving renewed interest in the coin.
One of Dogecoin’s most influential supporters has been Elon Musk, the CEO of Tesla. In 2019, Musk playfully declared Dogecoin his favorite cryptocurrency after being humorously elected as its “CEO” in a Twitter poll. Over the years, Musk’s frequent tweets about Dogecoin have fueled price spikes, with some of his companies even accepting the cryptocurrency for payments.
Following Musk’s acquisition of Twitter (now X), speculation about Dogecoin’s integration into the platform led to further excitement and significant price movements. Many believe the coin’s journey is far from over, as its strong community and real-world use cases continue to shape its narrative.
See Also: Dogecoin millionaires are on the rise – find out how many investors now hold over $1 million worth of DOGE!
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