History of Dogecoin in Timeline

Dogecoin is a cryptocurrency launched in December 2013 by Billy Markus and Jackson Palmer as a lighthearted jab at cryptocurrency speculation, using the 'doge' meme featuring Kabosu as its mascot. Initially conceived as a joke, it rapidly gained popularity, forming a dedicated online community and achieving a peak market capitalization exceeding $85 billion in May 2021. Recognized as the first 'meme coin,' Dogecoin is now sometimes viewed as a legitimate investment and even sponsors Watford Football Club.

December 6, 2013: Dogecoin Officially Launched

On December 6, 2013, Dogecoin was officially launched by Billy Markus and Jackson Palmer, aiming to create a digital currency accessible to a broader audience than Bitcoin. Dogecoin.com received over 1 million visitors within the first 30 days.

December 6, 2013: Dogecoin Introduction

On December 6, 2013, Dogecoin was introduced by software engineers Billy Markus and Jackson Palmer as a payment system joke, satirizing cryptocurrency speculation. It quickly gained an online community and features the "doge" meme's Kabosu as its logo.

December 19, 2013: Dogecoin Value Jumps Nearly 300%

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. This occurred as Bitcoin faced restrictions in China.

December 25, 2013: Dogewallet Hacking Incident

On December 25, 2013, Dogecoin experienced its first major theft after millions of coins were stolen due to a hack on the Dogewallet platform, where the hacker redirected all transactions to a single wallet. This negative event made Dogecoin the most mentioned altcoin on Twitter at the time.

January 2014: Trading Volume Surpasses Other Cryptocurrencies

In January 2014, the trading volume of Dogecoin briefly surpassed that of all other cryptocurrencies combined, though its market capitalization remained behind Bitcoin's.

January 19, 2014: Fundraiser for Jamaican Bobsled Team

On January 19, 2014, the Dogecoin community started a fundraiser to raise $50,000 for the Jamaican Bobsled Team, which had qualified for the Sochi Winter Olympics but could not afford to attend. The Dogecoin to Bitcoin exchange rate rose by 50% during the fundraiser.

February 2014: Supply Limit Removed

In February 2014, Palmer announced that Dogecoin would not have a supply limit added in the codebase, aiming for a consistent inflation rate over time.

March 2014: Static Block Reward Update

In March 2014, Dogecoin's mining reward system was updated from a randomized reward per block to a static block reward.

March 25, 2014: Dogecoin Sponsors NASCAR Driver Josh Wise

On March 25, 2014, the Dogecoin community raised Ð67.8 million to sponsor NASCAR driver Josh Wise. Wise drove the Dogecoin/Reddit-sponsored "Moonrocket" at the Aaron's 499 at Talladega Superspeedway, gaining significant attention during the race.

May 16, 2014: Josh Wise Wins Spot at Sprint All-Star Race

On May 16, 2014, Josh Wise won a spot at the Sprint All-Star Race through an online fan vote, largely due to the support of the Dogecoin Reddit community. He finished fifteenth in the race. The Dogecoin car was later added as a drivable car in the NASCAR '14 video game DLC.

2014: Dogecoin Foundation's Water Well Project in Kenya

In 2014, The Dogecoin Foundation collected donations to build a well in the Tana river basin in Kenya for World Water Day (March 22), raising over US$30,000 in cooperation with Charity: Water.

2014: Dogecoin Foundation Established

In 2014, the Dogecoin Foundation was originally established before being re-established in 2021 with renewed focus.

2015: 100 Billionth Dogecoin Mined

By mid-2015, the 100 billionth Dogecoin had been mined, with an additional Ð5 billion entering circulation annually thereafter.

2015: Jackson Palmer leaves the community

In 2015, Dogecoin co-founder Jackson Palmer left the cryptocurrency community, believing it to be fundamentally exploitative and designed to benefit only its top proponents.

May 2017: Dogetipbot Discontinued

In May 2017, Dogetipbot, a cryptocurrency transaction service used on Reddit and Twitch, was discontinued after its creator declared bankruptcy. Users lost coins stored in the system.

2017: Cryptocurrency Bubble

During the cryptocurrency bubble from 2017 to early 2018, Dogecoin's value and market capitalization experienced significant growth.

January 7, 2018: Dogecoin Reaches Peak Value of $0.017

On January 7, 2018, during the cryptocurrency bubble, Dogecoin reached a peak value of $0.017, pushing its market capitalization near $2 billion.

July 2020: Price Spike Due to TikTok Trend

In July 2020, Dogecoin's price increased following a TikTok trend that aimed to push its value to $1.

December 20, 2020: Musk's First Dogecoin Tweet

On December 20, 2020, Elon Musk's first Dogecoin-related tweet, "One Word: Doge", caused the value of Dogecoin to rise by 20%.

January 2021: Dogecoin Surges After Reddit Attention

In January 2021, Dogecoin's value increased over 800% in 24 hours, reaching $0.07, due to attention from Reddit users, with partial encouragement from Elon Musk.

February 2021: New High Price Following Twitter Encouragement

In February 2021, Dogecoin reached a new high price of $0.08 after endorsements from Elon Musk, Snoop Dogg, and Gene Simmons on Twitter.

February 2021: Musk's Dogecoin Tweets Cause Price Surge

In early February 2021, Elon Musk's tweets "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

In March 2021, Dallas Mavericks owner Mark Cuban announced his NBA team would accept Dogecoin for tickets and products, quickly becoming a top Dogecoin merchant with 20,000 transactions in two days.

April 15, 2021: Price of Dogecoin Rises After Musk Tweet

On April 15, 2021, Dogecoin's price rose by more than 100% after Elon Musk tweeted an image of Joan Miró's Dog Barking at the Moon painting, interpreted as a reference to the term "to the moon."

April 2021: Dogecoin Surges Amid Cryptocurrency Exchange Listing

In April 2021, Dogecoin surged, partly influenced by the Coinbase direct listing. It reached $0.10 on April 14, and a new high of $0.45 on April 16, with significant trading volume. The surge caused an outage on Robinhood's crypto system and raised bubble concerns.

May 4, 2021: Dogecoin Surpasses $0.50

On May 4, 2021, Dogecoin's value surpassed the $0.50 mark for the first time.

May 5, 2021: Peak Market Capitalization

On May 5, 2021, Dogecoin reached a peak market capitalization of over US$85 billion. It also became the sleeve sponsor of Watford Football Club in 2021.

May 8, 2021: Dogecoin Falls During Musk's SNL Appearance

On May 8, 2021, Dogecoin's price dropped as much as 29.5% to US$0.49 during Elon Musk's appearance on Saturday Night Live.

Loading Video...

May 9, 2021: SpaceX Announces Dogecoin-Funded Moon Mission

On May 9, 2021, SpaceX announced a rideshare mission to the Moon funded entirely by Dogecoin, marking the first space mission funded by cryptocurrency. The mission, named DOGE-1, involved a CubeSat payload.

May 20, 2021: Dogecoin Rises After Musk's Tweet

On May 20, 2021, Dogecoin rose by 11% after Elon Musk tweeted a Doge-related meme. The price was also up 10% after Musk tweeted a Reddit link for improvement proposals.

August 14, 2021: Dogecoin Foundation Re-establishment

On August 14, 2021, the Dogecoin Foundation announced its re-establishment with a focus on supporting the Dogecoin Ecosystem and promoting the Dogecoin Blockchain. Notable advisors such as Vitalik Buterin and Jared Birchall joined its board.

December 14, 2021: Tesla to Accept Dogecoin for Merchandise

On December 14, 2021, Dogecoin spiked more than 20% after Elon Musk announced that Tesla would accept the cryptocurrency as payment for Tesla merchandise.

2021: Dogecoin Co-Sponsors NASCAR Car

In 2021, Dogecoin co-sponsored the No. 99 NASCAR Xfinity Series car of B. J. McLeod Motorsports at Las Vegas, driven by Stefan Parsons.

June 16, 2022: Elon Musk Named in $258 Billion Lawsuit

On June 16, 2022, Elon Musk was named in a $258 billion lawsuit filed in federal court in Manhattan, accusing him of using social influence to promote Dogecoin and artificially inflate its price.

October 27, 2022: Musk Completes Twitter Acquisition, Dogecoin Price Rises

On October 27, 2022, Elon Musk finalized his acquisition of Twitter, leading to a sustained rise in Dogecoin's price from October 25 to October 29, increasing by as much as 46%.

2022: Doge-1 Mission Delay

In 2022, the DOGE-1 mission, initially planned for Q1 as part of Intuitive Machines' IM-1 mission, was delayed to a potential later date.

April 7, 2023: Twitter's Logo Changed to Doge Meme

Between April 3 and April 7, 2023, Twitter's bird logo was temporarily replaced with an image of the Doge meme for desktop users, leading to a rise in Dogecoin prices. The reason for the change was not provided.

April 2023: Dogecoin Increase Attributed to Twitter Logo Change

In April 2023, Dogecoin experienced an increase in value after Elon Musk temporarily changed the Twitter app logo to a Doge logo.

June 2023: Musk Accused of Insider Trading

In June 2023, Elon Musk was accused of insider trading by investors based on a series of stunts, including the change of the Twitter logo to the Doge logo.

August 29, 2024: Elon Musk Wins Dismissal of Dogecoin Lawsuit

On August 29, 2024, Elon Musk and Tesla won the dismissal of a federal lawsuit accusing them of defrauding investors by promoting Dogecoin and engaging in insider trading.

November 14, 2024: Trump Announces New Department DOGE Led by Musk and Ramaswamy

On November 14, 2024, President-elect Donald Trump announced that Elon Musk and Vivek Ramaswamy would lead a new Department of Government Efficiency, abbreviated as DOGE. Following the announcement on November 14, 2024, the price of Dogecoin experienced a spike.