History of Dogecoin in Timeline
Dogecoin is a cryptocurrency launched in December 2013 as a satirical take on the cryptocurrency craze by Billy Markus and Jackson Palmer. Featuring the 'doge' meme, it quickly gained popularity and a dedicated online community. While initially conceived as a joke, it has achieved significant market capitalization, reaching over US$85 billion in May 2021. Dogecoin is considered the first 'meme coin' and has even become the sleeve sponsor of Watford Football Club.
December 6, 2013: Dogecoin Officially Launched
On December 6, 2013, Dogecoin was officially launched by Billy Markus and Jackson Palmer as a peer-to-peer digital currency. Within the first 30 days, Dogecoin.com received over 1 million visitors.
December 6, 2013: Dogecoin Launch
On December 6, 2013, Dogecoin was introduced by Billy Markus and Jackson Palmer as a joke cryptocurrency, featuring the "doge" meme. It quickly developed an online community.
December 19, 2013: Dogecoin Value Jump
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.
December 25, 2013: Dogewallet Hacking Incident
On December 25, 2013, millions of Dogecoins were stolen from the Dogewallet platform due to a hack. The Dogecoin community responded by starting the "SaveDogemas" initiative to help those who lost funds.
January 2014: Surpassed Trading Volume
In January 2014, the trading volume of Dogecoin briefly surpassed that of all other cryptocurrencies combined.
January 19, 2014: Jamaican Bobsled Team Fundraiser
On January 19, 2014, the Dogecoin community established a fundraiser to raise $50,000 for the Jamaican Bobsled Team, which had qualified for the Sochi Winter Olympics.
February 2014: Supply Limit Removed
In February 2014, Jackson Palmer announced that the supply limit would not be added to Dogecoin's codebase to create a consistent inflation rate.
March 2014: Block Reward Update
In March 2014, Dogecoin's reward system was updated to a static block reward, changing from the initial randomized 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. The No. 98 car featured a Dogecoin/Reddit-sponsored design and was driven at the Aaron's 499.
2014: Tana River Basin Well Donation
In 2014, The Dogecoin Foundation collected donations to build a well in the Tana river basin in Kenya for World Water Day, raising over US$30,000.
2014: Dogecoin Foundation Established
The Dogecoin Foundation was originally established in 2014.
2015: 100 Billionth Dogecoin Mined
By mid-2015, the 100 billionth Dogecoin had been mined, with an additional Ð5 billion put into circulation every year thereafter.
2015: Co-founder Departure
In 2015, Dogecoin co-founder Jackson Palmer left the cryptocurrency community, expressing concerns about its exploitative nature.
May 2017: Dogetipbot Discontinued
In May 2017, Dogetipbot, a cryptocurrency transaction service used on Reddit and Twitch, was discontinued after its creator declared bankruptcy, leaving many users losing their coins.
2017: Cryptocurrency Bubble
During 2017, Dogecoin experienced a cryptocurrency bubble that would briefly peak in early 2018.
January 7, 2018: Peak Value During Bubble
On January 7, 2018, during the cryptocurrency bubble, Dogecoin briefly reached a peak of $0.017, bringing its market capitalization near $2 billion.
July 2020: TikTok Trend Spike
In July 2020, the price of Dogecoin spiked following a TikTok trend aimed at increasing its value to $1.
December 20, 2020: Musk's First Dogecoin Tweet
On December 20, 2020, Elon Musk tweeted "One Word: Doge", causing the value of Dogecoin to rise by 20%.
January 2021: Reddit-Driven Price Surge
In January 2021, Dogecoin surged over 800% in 24 hours, reaching $0.07, due to attention from Reddit users, partially encouraged by Elon Musk.
February 2021: New High Price
In February 2021, Dogecoin hit a new high price of $0.08 following Twitter encouragement from Elon Musk, Snoop Dogg, and Gene Simmons.
February 2021: Musk's Dogecoin Tweets
In early February 2021, Elon Musk tweeted about Dogecoin, captioning "Dogecoin is the people's crypto" and "no highs, no lows, only Doge", causing the value of Dogecoin to rise by roughly 40%.
March 2021: Dallas Mavericks Accept Dogecoin
In March 2021, Dallas Mavericks owner Mark Cuban announced his NBA team would allow purchases with Dogecoin, quickly becoming the top Dogecoin merchant with 20,000 transactions in two days.
April 15, 2021: Musk's "Doge Barking at the Moon" Tweet
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, which some interpreted as a reference to the phrase "to the moon".
April 2021: Cryptocurrency Surge
In April 2021, Dogecoin surged along with other cryptocurrencies, partly stimulated by Coinbase's direct listing. Dogecoin reached $0.10 on April 14 and then a new high of $0.45 on April 16, increasing its value by over 7,000% year-to-date.
May 4, 2021: Value Surpasses $0.50
On May 4, 2021, the value of Dogecoin first surpassed the symbolic hurdle of $0.50.
May 5, 2021: Peak Market Capitalization
On May 5, 2021, Dogecoin reached a peak market capitalization of over US$85 billion.
May 8, 2021: Dogecoin Price Fall During Musk's SNL Appearance
On May 8, 2021, Dogecoin fell as much as 29.5%, dropping to US$0.49 during Elon Musk's Saturday Night Live appearance.
May 9, 2021: SpaceX Dogecoin-Funded Mission
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.
May 20, 2021: Dogecoin Price Rises After Musk Tweet
On May 20, 2021, Dogecoin rose by 11% shortly after Elon Musk tweeted a Doge-related meme. The price of Dogecoin was up 10% in the hours after Musk tweeted a Reddit link for users to submit proposals to improve the cryptocurrency.
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 future of the Dogecoin blockchain. Notable advisors such as Vitalik Buterin and Jared Birchall joined the Board.
December 14, 2021: Tesla to Accept Dogecoin
On December 14, 2021, Dogecoin spiked more than 20% after Elon Musk said that Tesla will accept the currency as a means of payment for Tesla merchandise.
October 27, 2022: Musk Completes Twitter Acquisition
On October 27, 2022, Elon Musk completed a deal to take Twitter private, leading to a sustained rise in the price of Dogecoin from October 25 to October 29, increasing as much as 46%.
2022: DOGE-1 Mission Delay
In 2022, the DOGE-1 CubeSat mission, initially planned for Q1 as a rideshare payload on Intuitive Machines' IM-1 mission, was delayed to a potential later mission.
April 7, 2023: Twitter Logo Changed to Doge Meme
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.
April 2023: Price Increase after Twitter Logo Change
In April 2023, a Dogecoin increase was attributed to Elon Musk temporarily changing the logo on the Twitter app 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 logo on Twitter.
August 29, 2024: Lawsuit Dismissal
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.
November 14, 2024: Trump Announces DOGE Department
On November 14, 2024, president-elect Donald Trump announced that Elon Musk and Vivek Ramaswamy would lead a new Department of Government Efficiency or DOGE, which shares the name of Dogecoin, leading the the price of Dogecoin spiked soon after.
February 2025: X Money Account Digital Wallet Product Launch
In February 2025, when X announced the launch of its X Money Account digital wallet product, cryptocurrencies were not supported.
