The value of Dogecoin, a cryptocurrency inspired by internet memes, experienced a remarkable surge of over 16% within the last 24 hours. The price of DOGE surpassed the $0.10 mark, an occurrence not frequently observed in 2023. This significant double-digit increase coincides with Dogecoin celebrating its 10th anniversary on December 6, 2023.
Originally launched on December 6, 2013, as a somewhat humorous nod to the popular “doge” meme, Dogecoin has exceeded expectations, defying skeptics and evolving into one of the prominent digital currencies over the past decade. Conceived by software engineers Billy Markus and Jackson Palmer, the token adopts the iconic Shiba Inu “doge” as its recognizable mascot.
Dogecoin’s Ascent: The Remarkable Surge Beyond $0.10 Unfolds
As of the current writing, the present value hovers around $0.1021, experiencing a 15% increase within the last 24 hours. However, it’s essential to note that DOGE still lags significantly behind its highest recorded value of over $0.7376 in May 2021.
According to CoinMarketCap data, DOGE boasts a 24-hour trading volume of $2.11 billion, propelling it to the ninth position in market cap at $14.4 billion. Despite briefly trailing newcomers like Pepe Coin and Shiba Inu, Dogecoin has reestablished itself as the foremost meme coin in the market. The surge aligns with a broader trend in the altcoin and meme coin sector today, with Shiba Inu, PEPE, and Bonk Token also exhibiting double-digit increases in the last 24 hours.
One significant catalyst appears to be the influx of Dogecoin enthusiasts and speculators, eager to celebrate its tenth anniversary. The meme currency’s resilience is further underscored by its robust online community, with Elon Musk consistently endorsing DOGE as his preferred cryptocurrency.