🚀 Dogecoin Turns 11, Holding Strong as the Largest Memecoin
posted 6 Dec 2024
11 years ago, on December 6, Dogecoin (DOGE) was launched as the first memecoin. Today, DOGE celebrates its birthday in a strong position as the largest memecoin and one of the most valuable cryptocurrencies by market cap.
Co-created by Billy Markus and Jackson Palmer, Dogecoin started as a joke but has had an impressive run since then.
The coin has gained a large community and drew Elon Musk's attention, who said Dogecoin might be his favorite cryptocurrency.
For his support of Dogecoin, Musk is also called "Dogefather" in the community. On May 8, 2021, Musk appeared as the host of "Saturday Night Live," where he talked about DOGE.
In connection with this, DOGE hit a new all-time high of $0.7.
Despite the ongoing memecoin craze, Dogecoin still holds its place as the largest memecoin, with a market cap of over $63 billion. In the overall crypto market, it ranks 7th by market cap.
Unlike many other cryptocurrencies, Dogecoin doesn’t have a fixed maximum supply. For example, Bitcoin has a capped supply of 21 million.
Currently, around 147 billion Dogecoins are in circulation.
On its birthday, DOGE trades at around $0.40, growing about 3% over the last 7 days.
The coin has gained a large community and drew Elon Musk's attention, who said Dogecoin might be his favorite cryptocurrency.
Elon Musk mentioned Dogecoin in an X post in 2019. Source: x.com
Since 2019, Tesla founder Elon Musk has made multiple posts about DOGE on X, which resulted in the memecoin’s price increase and contributed to its popularity.
For his support of Dogecoin, Musk is also called "Dogefather" in the community. On May 8, 2021, Musk appeared as the host of "Saturday Night Live," where he talked about DOGE.
In connection with this, DOGE hit a new all-time high of $0.7.
Despite the ongoing memecoin craze, Dogecoin still holds its place as the largest memecoin, with a market cap of over $63 billion. In the overall crypto market, it ranks 7th by market cap.
Unlike many other cryptocurrencies, Dogecoin doesn’t have a fixed maximum supply. For example, Bitcoin has a capped supply of 21 million.
Currently, around 147 billion Dogecoins are in circulation.
On its birthday, DOGE trades at around $0.40, growing about 3% over the last 7 days.
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