According to David Gokhshtein, CEO of Gokhshtein Media, Dogecoin is heading towards its 2017-2018 peak levels. At the time of publication, Dogecoin was trading modestly at $0.08.
Even though the meme cryptocurrency is down 89.17% from its all-time high in 2021, a detailed look at its price history may be necessary to understand how the meme cryptocurrency has performed over the years.
In 2017 – I think $DOGEIts ATH was around $0.07.
Add it to research.
— david gokhshtein (@davidgokhshtein) 9 June 2022
In 2013, Australian entrepreneur Jackson Palmer and software programmer Billy Marcus invented Dogecoin as a “joke cryptocurrency”.
how it all started
Dogecoin’s first surprising price rally occurred in early March 2017, when the crypto market first saw a significant increase in retail investment, leading to a significant increase in alternative cryptocurrencies, otherwise referred to as altcoins.
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The parody coin surged over 70 percent within 1,890% days, climbing from a starting level of $0.00021 on May 21 to $0.0042. The market cap later increased to $423 million. Shortly afterwards, during a two-week market correction that affected all cryptocurrencies, Dogecoin fell 75%.
In the first seven days of 2018, Dogecoin crossed $0.02, a 380% increase from its previous peak. At that time its market capitalization nearly quadrupled to $1.6 billion. However, this was only temporary, as the price dropped by almost 70% to $0.0047 in just eight days.
Dogecoin debuted in 2021 with fanfare, with Tesla CEO Elon Musk (“The Dogfather”), Mark Cuban and others all jumping on the DOGE bandwagon. Apart from a few brief periods, such as trading around $0.02 in 2018, the price of DOGE has largely traded below the $0.01 price point for much of its existence.
Fast forward to 2021, when Dogecoin hit an all-time high of $0.74 in May and has since fallen nearly 90%. At the time of publication, Dogecoin was the 10th largest cryptocurrency with a market valuation of $10.57 billion, according to CoinMarketCap data.
