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Dogecoin celebrated its 12th anniversary in the "red zone" - ForkLog: cryptocurrencies, AI, singularity, future
December 6 marks the 12th anniversary since the launch of the leading meme cryptocurrency, Dogecoin (DOGE).
The coin was created in 2013 by developer Billy Markus and Adobe Systems sales employee Jackson Palmer, who decided to joke about the rapidly growing number of digital assets.
Over the years, the token created “for fun” has turned into one of the leading cryptocurrencies. On May 8, 2021, DOGE hit an all-time high of $0.73, with a market capitalization reaching $88.7 billion according to (CoinGecko).
On its current anniversary, the pioneer of the meme token segment faced a 3.1% drop over the day—while Bitcoin and the broader market lost about 1.8%.
DOGE is trading near $0.14, remaining in the top 10 by market capitalization with a figure around $22.5 billion.
In January, the coin’s price jumped 11% after its logo appeared on the website of the newly formed Department of Government Efficiency under the US government (Department of Government Efficiency or DOGE). The agency, created by order of President Donald Trump, was headed by Musk.
News outlet dogegod reported that updated internal code on Tesla’s website contains “deeper Dogecoin payment mechanisms” for electric cars such as the Model 3 and Cybertruck. The channel’s authors suggested this could signal the imminent launch of an option, possibly related to the announced XMoney payment system on the X platform.
Recall, experts considered the debut of the first US spot DOGE ETF from Grayscale at the end of November “unexpectedly modest.” On its first trading day, the product saw inflows of $1.8 million.