Dogecoin is a cryptocurrency created in 2013 by Billy Markus and Jackson Palmer as a satirical take on the cryptocurrency craze. Featuring the Shiba Inu dog from the "doge" meme as its logo, it quickly gained popularity and developed a strong online community. Despite its origins as a joke, Dogecoin achieved a peak market capitalization of over $85 billion in May 2021. Known as the first "meme coin", Dogecoin is now used in various contexts, including as a sleeve sponsor for Watford Football Club.
On December 6, 2013, Dogecoin was officially launched by Billy Markus and Jackson Palmer. Within the first 30 days, Dogecoin.com had over 1 million visitors.
On December 6, 2013, Dogecoin was introduced by Billy Markus and Jackson Palmer as a cryptocurrency payment system created as a joke.
On December 19, 2013, Dogecoin's value jumped nearly 300% in 72 hours, rising from $0.00026 to $0.00095, with billions of Dogecoins traded per day.
On December 25, 2013, millions of Dogecoins were stolen from the online cryptocurrency wallet platform Dogewallet due to a hack. The Dogecoin community started the "SaveDogemas" initiative to help those who lost funds.
In January 2014, Dogecoin's trading volume briefly surpassed that of all other cryptocurrencies combined.
On January 19, 2014, the Dogecoin community established a fundraiser to raise $50,000 for the Jamaican Bobsled Team to attend the Sochi Winter Olympics.
In February 2014, Jackson Palmer announced that the Dogecoin supply limit would not be added in the codebase, aiming for a consistent inflation rate.
In March 2014, Dogecoin's mining reward system was updated to a static block reward, moving away from a randomized reward for each block.
On March 25, 2014, the Dogecoin community raised Ð67.8 million to sponsor NASCAR driver Josh Wise. The No. 98 car featured a Dogecoin/Reddit-sponsored paint scheme at the Aaron's 499.
On May 16, 2014, Josh Wise won a spot at the Sprint All-Star Race through an online fan vote, largely due to the efforts of the Dogecoin Reddit community.
In 2014, The Dogecoin Foundation collected donations to build a well in the Tana river basin in Kenya for World Water Day.
By mid-2015, the 100 billionth Dogecoin had been mined, with an additional Ð5 billion put into circulation every year thereafter.
In 2015, Dogecoin co-founder Jackson Palmer left the cryptocurrency community, expressing concerns about its exploitative nature.
In May 2017, Dogetipbot was discontinued and taken offline after its creator declared bankruptcy, leading to users losing coins stored in the system.
During 2017, Dogecoin experienced a cryptocurrency bubble.
On January 7, 2018, during the cryptocurrency bubble, Dogecoin briefly reached a peak of $0.017, with a market capitalization near $2 billion.
In July 2020, the price of Dogecoin spiked following a TikTok trend aimed at getting Dogecoin to $1.
On December 20, 2020, Elon Musk tweeted "One Word: Doge," causing the value of Dogecoin to rise by 20%.
In January 2021, Dogecoin's value went up over 800% in 24 hours, reaching $0.07 due to attention from Reddit users, partly encouraged by Elon Musk.
In February 2021, Dogecoin hit a new high price of $0.08 following Twitter encouragement from Elon Musk, Snoop Dogg, and Gene Simmons.
In early February 2021, Elon Musk tweeted "Dogecoin is the people's crypto" and "no highs, no lows, only Doge," causing the value of Dogecoin to rise by roughly 40%.
In March 2021, Dallas Mavericks owner Mark Cuban announced his NBA team would allow purchasing tickets and products with Dogecoin.
On April 15, 2021, the price of Dogecoin rose by more than 100% after Elon Musk tweeted an image of Joan Miró's Dog Barking at the Moon painting captioned "Doge Barking at the Moon".
In April 2021, Dogecoin surged, partly due to Coinbase's direct listing. Dogecoin reached $0.45 on April 16, with a nearly $70 billion volume traded. Interest in Dogecoin contributed to an outage in Robinhood's cryptocurrency system on April 15.
On May 4, 2021, the value of Dogecoin first surpassed the symbolic hurdle of $0.50.
On May 5, 2021, Dogecoin reached a peak market capitalization of over US$85 billion.
On May 8, 2021, Dogecoin fell as much as 29.5%, dropping to US$0.49 during Elon Musk's Saturday Night Live appearance.
On May 9, 2021, SpaceX announced a rideshare mission to the Moon completely funded by Dogecoin, making it the first space mission funded by a cryptocurrency.
On May 20, 2021, Dogecoin rose by 11% shortly after Elon Musk tweeted a Doge-related meme.
On August 14, 2021, the Dogecoin Foundation announced its re-establishment, focusing on supporting the Dogecoin Ecosystem, Community, and promoting the future of the Dogecoin Blockchain.
On December 14, 2021, Dogecoin spiked more than 20% after Elon Musk said that Tesla would accept the currency as a means of payment for Tesla merchandise.
On June 16, 2022, Elon Musk was named in a complaint seeking damages of $258 billion for promoting Dogecoin and artificially inflating its price.
On October 27, 2022, Elon Musk completed a deal to take Twitter private, leading to a rise in the price of Dogecoin from October 25 to October 29.
In 2022, the DOGE-1 CubeSat mission, initially planned for Q1 2022, was delayed to a potential later mission.
Between April 3 and April 7, 2023, Twitter's bird logo was replaced with an image of the Doge meme for desktop users, leading to a rise in Dogecoin prices.
In April 2023, a Dogecoin increase was attributed to Elon Musk temporarily changing the logo on the Twitter app to a Doge logo.
In June 2023, Elon Musk was accused of insider trading by investors based on a series of stunts including the change of logo.
On August 29, 2024, Elon Musk and Tesla won the dismissal of a federal lawsuit accusing them of defrauding investors by hyping Dogecoin and conducting insider trading.
On November 14, 2024, president-elect Donald Trump announced Elon Musk and Vivek Ramaswamy would lead a new Department of Government Efficiency (DOGE). The price of Dogecoin increased following the announcement.
In February 2025, when X announced the launch of its X Money Account digital wallet product, cryptocurrencies were not supported.
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