How Much Did $DOGE Priced First Appear?

Bittime - Dogecoin ($DOGE) is one of the world's most famous cryptocurrencies, inspired by memes, and has gained widespread attention among both cryptocurrency enthusiasts and the general public. Its popularity has increased thanks to support from various celebrities, including Elon Musk. 

However, many people wonder, what was the initial price of DOGE when it was first launched? This article will discuss the journey of Dogecoin prices from its inception to the present.

The Origin of Dogecoin

Dogecoin was created in 2013 by Jackson Palmer, an employee at Adobe Systems, and Billy Markus, a software engineer at IBM. The two created Dogecoin as a joke to highlight the growing phenomenon of speculative coins in the cryptocurrency industry. 

They were inspired by the Doge meme, which features an image of a Shiba Inu dog with colorful text depicting the dog's inner monologue.

DOGE Initial Price

Dogecoin was first publicly announced on November 28, 2013, when Jackson Palmer tweeted, "investing in dogecoin, pretty sure it's the next big thing." Palmer then registered the domain www.dogecoin.com on December 4, 2013, which still provides information for new users today.

The Dogecoin genesis block was mined on December 6, 2013, and the price of DOGE was first recorded on January 23, 2014, at $0.001540753 (around IDR 25).

Price Surge in Early 2014

After launch, DOGE price started at $0 and increased to $0.0004 (around Rp. 6.48) in the first few days of trading. 

In the first two weeks, DOGE experienced a significant price spike, surging 300% after China banned banks from dealing in cryptocurrencies. However, at the end of 2013, the DOGE price fell again to $0.0003 (around Rp. 4.86) and remained at that level until January 2014.

In January 2014, Dogecoin's trading volume saw a huge spike, outperforming Bitcoin, Ethereum, and the entire cryptocurrency market, reaching a price of $0.0020 (approximately Rp. 32.40), which was a thousand percent increase. 

Although at that time Dogecoin did not have much use other than speculative trading, its community began to grow. Dogecoin didn't have a whitepaper at the time, but caught more people's attention after the launch of DogeTipBot, a micro-tipping service that allows users to leave tips for online services.

Charity and Community Activities

The Dogecoin community is also active in charity, donating more than $170,000 (approximately IDR 2,754,000,000) in DOGE to various causes, including helping the Jamaican bobsled team to participate in the Sochi Winter Olympics. 

In 2014, the Dogecoin community raised funds to support various initiatives, including education in Cambodia and access to clean water. These charitable activities reflect the initial ethos of the Dogecoin community which focused on humor, togetherness and generosity.

Read too Dogecoin (DOGE) History and $DOGE Price

DOGE Prices in 2015 and 2017

DOGE experienced a significant price drop in early 2015, reaching a low of $0.0000869 (around Rp. 1.41), due to losing interest from the community. 

However, Dogecoin started to regain attention in March 2017, when the price jumped 1,500% to $0.0042 (around Rp. 68.04). 

In January 2018, DOGE peaked again at $0.018 (around IDR 291.60), but then experienced a decline due to the cryptocurrency market crash in the same year.

Elon Musk's involvement

Elon Musk began providing public support for Dogecoin in early 2021, which led to a price spike of more than 400% in January, reaching $0.32 (around Rp. 5,184). 

In May 2021, DOGE experienced its biggest price jump, almost 10,000%, reaching $0.74 (around IDR 12,008). 

Endorsements from Musk and other celebrities contributed to DOGE's popularity, although there is controversy regarding their influence on the coin's price.

Read too How to Buy Dogecoin (DOGE)

Current DOGE Price

Currently, DOGE is trading around $0.0744 (around IDR 1,204), down 89% from its highest peak. Despite the decline, Dogecoin remains one of the cryptocurrencies with a significant market capitalization, reaching more than $9 billion (around IDR 146,580,000,000,000) in December 2022. 

DOGE, like all cryptocurrencies, experienced a decline along with the overall crypto market in early 2022, triggered by the TerraUSD collapse and then the FTX crisis.

Read too Check the Latest Doge Prices to IDR

Conclusion

Dogecoin, which started as a joke, has now become a cryptocurrency with a large market capitalization and a loyal community. Although DOGE's price has experienced significant fluctuations since its launch, its appeal remains, especially among retail investors and meme fans. With the potential for wider adoption and support from well-known figures, DOGE will likely continue to be an important part of the cryptocurrency story in the future.

FAQ (Frequently Asked Questions)

1. What is Dogecoin ($DOGE)?

Dogecoin ($DOGE) is a meme-inspired cryptocurrency, created in 2013 by Jackson Palmer and Billy Markus. Initially launched as a joke to highlight the speculative coin phenomenon, DOGE has now become one of the top cryptocurrencies with a significant market capitalization.

2. What was the initial price of Dogecoin when it was first launched?

Dogecoin was first listed at $0.001540753 (around Rp. 25) on January 23, 2014. In December 2013, the price of DOGE started at $0 and increased to $0.0004 (around Rp. 6.48) in the first few days of trading.

3. What caused the Dogecoin price spike in 2014?

Dogecoin's price spike in 2014 was caused by a significant increase in trading volume, with DOGE outperforming Bitcoin and Ethereum. In January 2014, the price of DOGE reached $0.0020 (around IDR 32.40) after high interest from the community.

4. How does Elon Musk's involvement affect the price of Dogecoin?

Elon Musk began providing public support for Dogecoin in early 2021, which led to a price spike of more than 400% in January, reaching $0.32 (around Rp. 5,184). Endorsements from Musk and other celebrities contributed to DOGE's popularity, although there is controversy regarding their influence on the coin's price.

5. What is the current price of Dogecoin?

Currently, Dogecoin is trading around $0.0744 (around Rp. 1,204), down 89% from its highest peak. Despite the decline, Dogecoin remains one of the cryptocurrencies with a large market capitalization, reaching more than $9 billion (around IDR 146,580,000,000,000) in December 2022.

6. What makes Dogecoin different from other cryptocurrencies?

Dogecoin was originally created as a joke and did not have much use other than speculative trading. However, over time, DOGE has built a strong community and is involved in various charitable activities, making it unique among other cryptocurrencies.

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Reference

CryptoGlobe, Dogecoin (DOGE) Price History: What Price Did DOGE Start At?, Accessed December 26, 2024

Alex Thorn, Karim Helmy, Dogecoin: The Most Honest Sh*tcoin, Accessed December 26, 2024