One of the most well-known cryptocurrencies remains Dogecoin DOGE/USD , a coin started as a joke back in 2013. With a market capitalization of nearly $11 billion, the support of some of the biggest billionaires and acceptance as a form of payment at select retailers, Dogecoin is no longer a laughing matter.
Heres a look at the history of Dogecoin and how muchlucky investors who bought in back in 2013 would have now.
What Happened: Dogecoin was created in 2013 by Jackson Palmer and Billy Markus. The coin was meant to be a satirical coin to mock Bitcoin BTC/USD , but over time has gained support from a loyal community.
Palmer bought dogecoin.com and connected with Markus, who had previous experience with altcoins, including making a coin based on the Bells currency in the Animal Crossing video game. The duo made the coin in just a couple hours, with Markus previously saying much of the time on development was spent changing the font of the coin to Comic Sans.
The cryptocurrency was based on the iconic Doge meme that stars Kabosu, a Shiba Inu dog.
A profile for Dogecoin was created on Bitcointalk.org on Dec. 6, 2013. A subreddit for Dogecoin (r/Dogecoin) was created on Dec. 8, 2013. The coin opened for trading on Dec. 15, 2013.
One of the early use cases for the coin was to be used as a tipping bot on Reddit.
The price of Dogecoin went from around $0.0002 to $0.002 in two weeks' time, marking a significant return for early investors.
The coin saw a rise in 2017 alongside other altcoins before falling in price by the end of 2018.
One supporter of Dogecoin over the years has been Tesla CEO Elon Musk. A 2019 Twitter post that elected Musk as the fictional CEO of Dogecoin saw the billionaire declare Dogecoin might be my fav cryptocurrency.
Musk would tweet many more times about Dogecoin over the years.
2021 will go down as the year of Dogecoin with the coin going from less than a penny per coin to all-time highs. The coin soared in mentions across social media and became a trending topic on Google trends to start the year.
Billionaire Mark Cuban supported Dogecoin. Cubandisclosed he owned some and announcedNBA team the Dallas Mavericks, which he owns, would accept the cryptocurrency as a form of payment on merchandise and tickets.
Retailers and websites began accepting Dogecoin as a form of payment thanks to its popularity.
Cryptocurrency exchanges such asCoinbase and eToro added Dogecoin to their platform due to customer demand.
Musk appeared as the host on Saturday Night Live and gave a shout-out to Dogecoin. The episode would end up serving as the peak in price for the coin.
Related Link: How To Buy Dogecoin (DOGE)
Investing $100 in Dogecoin: On Dec. 15, 2013, Dogecoin began trading, according to data from Coinmarketcap.
A look at the chart on Coinmarketcap shows a price of $0.0002993 for Dogecoin on Dec. 15, 2013.
An investment of $100 could have bought 334,112.93 DOGE at the time.
This investment would be worth $27,464.08 today, based on a price of $0.0822 for Dogecoin at the time of writing.
Dogecoin hit an all-time high of $0.7376 in May 2021. This hypothetical $100 investment would have been worth $246,441.70 at that time.
Not every cryptocurrency investment will go up in value and the hypothetical investment was likely realized by very few if any.
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