Buy Dogecoin (DOGE): value and price trends

What is Dogecoin (DOGE)

Dogecoin is the most famous memecoin in history, as well as the first ever created. Its image is the well-known meme of the Shiba Inu dog Kabosu. By market capitalisation it consistently ranks among the largest crypto-assets, while keeping a “playful” nature that makes it particularly sensitive to speculation and market sentiment.

How it began

Dogecoin was launched on 6 December 2013 by Billy Markus (IBM) and Jackson Palmer (Adobe), initially as a parody of the growing “altcoin mania”. Its success, unexpected even for its creators, is due above all to the community that formed around the project.

Technically it is based on a Proof of Work blockchain derived from Litecoin’s code: the network is secured by miners through mining and has continuous issuance, with no maximum cap on supply.

A price driven by sentiment

A distinctive feature of DOGE is its very strong sensitivity to social media sentiment and to statements by public figures: in particular Elon Musk has influenced its price several times. Episodes of this kind have historically produced very wide swings, both upward and downward, over short time spans.

This is a specific risk factor: the value of DOGE can move for reasons unrelated to technical fundamentals, tied more to media attention than to network usage.

Price trends and what to consider

Like all crypto-assets, DOGE has shown an extremely volatile price trend, with phases of strong growth followed by equally sharp declines. Its quotations can be influenced by the general trend of the crypto market and, to a heightened degree, by online sentiment.

Past performance is not a guarantee of future results.