Dogecoin, a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, started as a joke satirizing cryptocurrency speculation. It's considered the first "meme coin" and "dog coin," using the Shiba Inu dog from the "doge" meme as its logo. Launched on December 6, 2013, it gained a large online community and reached a market cap exceeding $85 billion in May 2021. Despite its satirical origins, some view Dogecoin as a serious investment. As of 2021, it sponsors Watford Football Club.
December 6, 2013: Dogecoin Launch
Dogecoin was introduced on December 6, 2013, as a joke cryptocurrency by software engineers Billy Markus and Jackson Palmer, satirizing the speculation surrounding cryptocurrencies.
December 6, 2013: Dogecoin Launch
Dogecoin was officially launched on December 6, 2013, as a peer-to-peer digital currency aiming to reach a broader demographic than Bitcoin and distance itself from the controversies of other cryptocurrencies. Within its first month, Dogecoin.com attracted over a million visitors.
December 19, 2013: Dogecoin Price Surge and Crash
On December 19, 2013, Dogecoin's value surged by almost 300% in 72 hours, coinciding with China's restrictions on Bitcoin investments. However, just three days later, Dogecoin's price crashed by 80% due to large mining pools exploiting its low computational mining requirements and following the restrictions on Bitcoin.
December 25, 2013: Dogewallet Hack and "SaveDogemas"
On December 25, 2013, the Dogewallet platform was hacked, resulting in the theft of millions of Dogecoins. The incident, while negative, increased Dogecoin's visibility on Twitter. The community launched the "SaveDogemas" initiative to reimburse those affected by the hack, successfully recovering the stolen funds within a month.
2013: Musk Suggests Dogecoin for Twitter Transactions
In 2013, Elon Musk suggested the possibility of using Dogecoin for transactions on Twitter.
January 2014: Dogecoin Trading Volume Exceeds Other Cryptocurrencies
In January 2014, Dogecoin's trading volume briefly surpassed that of all other cryptocurrencies combined, although its market capitalization remained significantly lower than Bitcoin's.
January 19, 2014: Dogecoin Community Fundraiser for Jamaican Bobsled Team
On January 19, 2014, the Dogecoin community launched a fundraiser to help the Jamaican Bobsled Team reach the Sochi Winter Olympics. Within two days, $36,000 worth of Dogecoin was donated, and the Dogecoin to Bitcoin exchange rate increased by 50%.
February 2014: Removal of Dogecoin Supply Limit
In February 2014, the intended supply limit of 100 billion Dogecoins was removed to create a consistent inflation rate.
March 2014: Dogecoin Mining Reward Update
In March 2014, Dogecoin's mining reward system was changed from a randomized to a static block reward.
March 25, 2014: Dogecoin Sponsors NASCAR Driver Josh Wise
On March 25, 2014, the Dogecoin community crowdfunded Ð67.8 million (around US$55,000) to sponsor NASCAR driver Josh Wise's No. 98 car, nicknamed the "Moonrocket," at the Aaron's 499 race in Talladega. The car featured a Dogecoin/Reddit paint scheme.
May 16, 2014: Josh Wise Wins Spot in Sprint All-Star Race with Dogecoin Support
On May 16, 2014, thanks to Dogecoin community support, Josh Wise secured a spot in the NASCAR Sprint All-Star Race via a fan vote. He finished fifteenth, the last car running. The Dogecoin car was later included in the NASCAR '14 video game.
2014: Original Dogecoin Foundation Establishment
The Dogecoin Foundation was originally established in 2014.
2014: Dogecoin Foundation's Well-Building Campaign in Kenya
In 2014, The Dogecoin Foundation partnered with Charity: Water to raise funds for a well in Kenya's Tana river basin. Over 4,000 donors contributed, including a substantial anonymous donation, raising over US$30,000.
2015: 100 Billionth Dogecoin Mined
By mid-2015, the 100 billionth Dogecoin was mined, with an additional 5 billion entering circulation annually.
2015: Jackson Palmer Leaves Dogecoin
Co-founder Jackson Palmer left the Dogecoin project in 2015, expressing concerns about the exploitative nature of the cryptocurrency space.
May 2017: Dogetipbot Discontinuation
Dogetipbot, a cryptocurrency transaction service used on platforms like Reddit and Twitch, was discontinued in May 2017 after its creator declared bankruptcy, resulting in user fund losses.
2017: Cryptocurrency Bubble Impact on Dogecoin
The cryptocurrency bubble from 2017 to early 2018 significantly influenced the price of Dogecoin.
January 7, 2018: Dogecoin Price Peak
During the cryptocurrency bubble of 2017-early 2018, Dogecoin reached a peak of $0.017 on January 7, 2018, resulting in a market capitalization of approximately $2 billion.
July 2020: TikTok Trend Boosts Dogecoin Price
In July 2020, a TikTok trend aiming to increase Dogecoin's value to $1 caused a surge in its price.
December 20, 2020: Elon Musk's First Dogecoin Tweet
Elon Musk's first Dogecoin-related tweet on December 20, 2020, "One Word: Doge," caused a 20% surge in Dogecoin's value.
January 2021: Reddit-Driven Dogecoin Surge
In January 2021, Dogecoin's price increased by over 800% in 24 hours due to attention from Reddit users, fueled by Elon Musk and the GameStop short squeeze.
February 2021: Celebrity Endorsements Boost Dogecoin
Dogecoin's price reached a new high in February 2021 following endorsements from Elon Musk, Snoop Dogg, and Gene Simmons.
February 2021: Elon Musk's Dogecoin Tweets Boost Value
In February 2021, Elon Musk's tweets praising Dogecoin, including "Dogecoin is the people's crypto" and "no highs, no lows, only Doge," led to a roughly 40% increase in Dogecoin's value.
March 2021: Dallas Mavericks Accept Dogecoin
Mark Cuban announced in March 2021 that the Dallas Mavericks would accept Dogecoin for ticket and merchandise purchases, quickly becoming a top Dogecoin merchant.
April 2021: Dogecoin Price Surge and Robinhood Outage
Dogecoin's value surged in April 2021, influenced by Coinbase's direct listing. The increased interest in Dogecoin contributed to an outage on the Robinhood trading platform due to unprecedented demand.
April 15, 2021: Dogecoin Price Surges After Musk's "Doge Barking at the Moon" Tweet
On April 15, 2021, Dogecoin's price more than doubled after Elon Musk tweeted an image of Joan Miró's "Dog Barking at the Moon" painting, interpreted by many as a signal of an impending price surge.
May 4, 2021: Dogecoin Reaches $0.50
On May 4, 2021, Dogecoin's value exceeded $0.50 for the first time.
May 5, 2021: Dogecoin Market Cap Peak
On May 5, 2021, Dogecoin reached its highest market capitalization, exceeding US$85 billion.
May 8, 2021: Dogecoin Price Drops During Musk's SNL Appearance
Dogecoin's price fell by nearly 30% during Elon Musk's appearance on Saturday Night Live on May 8, 2021.
May 9, 2021: SpaceX's DOGE-1 Mission Announcement
On May 9, 2021, SpaceX revealed the DOGE-1 mission, a lunar mission fully funded by Dogecoin, making it the first cryptocurrency-funded space mission.
May 20, 2021: Dogecoin Price Recovers After Musk's Tweet
Following a Doge-related meme tweeted by Elon Musk on May 20, 2021, Dogecoin's price increased by 11%. It also saw a 10% rise after Musk tweeted a Reddit link soliciting ideas for Dogecoin improvement.
August 14, 2021: Dogecoin Foundation Re-establishment
The Dogecoin Foundation was re-established on August 14, 2021, with a renewed focus on supporting the Dogecoin ecosystem and community, and with notable advisors like Vitalik Buterin and Jared Birchall joining its board.
December 14, 2021: Tesla Accepts Dogecoin for Merchandise
Dogecoin's value spiked by over 20% on December 14, 2021, after Elon Musk announced that Tesla would begin accepting Dogecoin as payment for its merchandise.
June 16, 2022: Elon Musk Sued Over Dogecoin Promotion
On June 16, 2022, Elon Musk was sued for $258 billion by Keith Johnson, who alleged that Musk's promotion of Dogecoin artificially inflated its price.
October 27, 2022: Elon Musk Completes Twitter Acquisition, Dogecoin Rises
Dogecoin's price rose significantly (up to 46%) between October 25 and 29, 2022, following Elon Musk's acquisition of Twitter on October 27.
2022: DOGE-1 Mission Delay
The DOGE-1 mission faced a delay from its planned launch in Q1 2022.
April 7, 2023: Twitter Logo Changed to Doge Meme, Dogecoin Price Rises
Between April 3 and 7, 2023, Twitter temporarily replaced its bird logo with the Doge meme, causing a surge in Dogecoin prices. The reason for the change remained unclear, possibly an April Fool's joke or a move related to the Dogecoin lawsuit against Musk.
April 2023: Twitter Logo Change Boosts Dogecoin
In April 2023, Elon Musk's temporary change of the Twitter logo to the Doge logo caused an increase in Dogecoin's value.
June 2023: Elon Musk Accused of Insider Trading
Elon Musk faced accusations of insider trading related to Dogecoin, including the logo change incident, in June 2023.
August 29, 2024: Dismissal of Lawsuit Against Elon Musk and Tesla
On August 29, 2024, a lawsuit against Elon Musk and Tesla regarding alleged Dogecoin-related investor fraud was dismissed.