Buy Dogecoin (DOGE): Trend and Price

Why buy Doge (DOGE)

Consider buying Dogecoin, the most famous meme coin in history and the first to be created. With a market capitalisation of over $12 billion, it ranks among the top 10 cryptocurrencies. Its playful nature means its price is heavily influenced by speculation and trends in the broader cryptocurrency market.

One of Dogecoin’s most prominent supporters is Elon Musk, who has often triggered price surges with his comments. For example, in 2021, his well-known tweet caused Dogecoin’s price to skyrocket by 1,100% in just four months. Additionally, in April 2023, he changed the logo of his social media platform, X, to that of Dogecoin.

In 2024, Dogecoin (DOGE) recorded a remarkable performance, with a 250% increase over the previous year, surpassing other popular cryptocurrencies such as XRP, Bitcoin, and Ethereum. This surge was partly attributed to Donald Trump‘s re-election as President of the United States in November 2024, which led to a significant rise in Dogecoin’s value.

Another key factor was President-elect Trump’s announcement of creating the “Department of Government Efficiency” (DOGE), which has been entrusted to Elon Musk. This development strengthened investor confidence in Dogecoin, contributing to its price surge.

Considering these developments, interest in Dogecoin has increased. Political events and the ongoing backing of influential figures like Elon Musk support it.

What is Doge and how it was born (DOGE)

If you’re considering buying Dogecoin, you must recognise that it is a unique cryptocurrency whose success has surprised many, including its creators. The coin features the popular meme of a Shiba Inu dog named Kabosu, owned by a Japanese kindergarten teacher known for documenting her pets’ lives on a blog. Billy Markus from IBM and Jackson Palmer from Adobe chose Kabosu as the mascot for their new coin to satirise the growing trend of alternative cryptocurrencies.

Dogecoin was launched on December 6, 2013, and its popularity surged, resulting in a 300% increase in market capitalisation within just two weeks. Although the developers, Palmer and Markus, admired Bitcoin, they were not fans of many emerging cryptocurrencies. As a result, they created Dogecoin as a parody. Despite its origins as a meme, Dogecoin’s success can largely be attributed to the strong community that has developed around it.