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The leading cryptocurrency Bitcoin broke all-time highs (ATH) in 2020 and 2021. However, to realize the ATH three years ago, there are many other digital assets that still have a long way to go. Despite being a specific older cryptocurrency, the popular meme token Dogecoin is about to approach its 2017 ATH, far surpassing a large number of earlier tokens. Dogecoin’s annual growth rate even surpassed that of Bitcoin, with an increase of more than 535% during the year.
Since the 2017 bull market three years ago, many cryptocurrencies have not broken their historical highs (ATH). For example, Ethereum (ETH) is still more than 33% away from ATH in 2017, which is the closest among the top ten, excluding newer crypto assets such as LINK and DOT. During Sunday’s price high, the popular Meme token Dogecoin (DOGE) was only 32.29% away from reaching the crypto asset’s 2017 ATH.
Dogecoin has performed very well in the past year, and in the last 24 hours of trading, the token has risen by more than 38%. DOGE rose 184% last week, 294% this month, and 394% in 90 days. The price of Dogecoin against BTC even increased by 115%, which is not common in most alternative crypto assets today.
In addition, if they want to invest in Dogecoin at the beginning of this year, their DOGE exchange rate against the US dollar will rise by more than 535%.
Since its release on December 6, 2013, cryptocurrencies with similarities between Shiba Inu and the infamous Internet meme Doge have existed. Dogecoin has a 7-year history and was developed by Jackson Palmer and programmer Billy Markus.
The purpose of coins has always been to entertain and reach a wider demographic. The supply ceiling of Dogecoin is much larger than Bitcoin’s 21 million, because there are 127.7 billion DOGE in circulation.
In addition, many people believe that Elon Musk, the founder of Tesla, is responsible for bringing Dogecoin back to people’s attention in 2020. On December 20, 2020, Musk wrote on Twitter: “One word: dogs”, and on his Twitter profile, he also called himself “the former.” The CEO of Dogecoin. “
Then earlier this year, many crypto fans on the social media app Tiktok tried to increase the price of Dogecoin to $1 per token. Of course, this never happened, but DOGE gained a lot at the time.
Although Palmer and Markus created Dogecoin for entertainment purposes only, Shiba Inu Doge Tokens have maintained considerable value over the past seven years. The coin community is known for being very generous to charity, and Dogecoin even has its own NASCAR vehicle.
Although it is only worth one cent and Dogecoin has billions of dollars in circulation, it still maintains its position as the top 25 coin market value competitors. It just shows that you can’t disappoint a good dog.
What do you think of the rapid growth of Dogecoin in the past year and the gains you saw last week? Let us know your thoughts on this topic in the comments section below.
Picture Credits: Shutterstock, PNG, Wiki Commons, Twitter, Markets.Bitcoin.com,
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