Can’t Keep a Good Dog Down: Meme Token Dogecoin Spiked Over 500% This Year

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The leading cryptocurrency Bitcoin surpassed new all-time highs (ATH) in 2020 and 2021. However, many other digital assets still have a long way to go before they hit the ATH they saw three years ago in 2017. Despite being a specific older cryptocurrency, the popular Dogecoin meme token is nearing its ATH in 2017 long before a large number of older coins appear. Dogecoin’s annual profits have even outpaced Bitcoin’s profits by increasing more than 535% over the course of the year.

A large number of cryptocurrencies have not yet exceeded their all-time high (ATH) from the 2017 bull run three years ago. For example, Ethereum (ETH) is still just over 33% away from the 2017 ATH, and it’s the closest in the top ten, with the exception of newer crypto assets like LINK and DOT. During Sunday’s price spike, the popular Meme Token Dogecoin (DOGE) was just 32.29% away from hitting the 2017 ATH of the crypto asset.

Unlike many other older coins out there, Dogecoin (DOGE), born in December 2013, is closer to its all-time high three years ago.

Dogecoin has done very well over the last year and in the last 24 hours of trading the token has increased over 38%. DOGE is up 184% in the past week, 294% in the month and 394% in the 90 days. Dogecoin has even gained 115% over BTC, which is unusual for most alternative crypto assets these days.

If you had invested in Dogecoin earlier in the year, the DOGE would have gained over 535% against the US dollar.

On January 3, 2021, Dogecoin (DOGE) is only 32.29% away from reaching the ATH of the crypto asset achieved in 2017. DOGE prices were recorded on Sunday afternoon at approximately 1:00 p.m. (EST).

The cryptocurrency with the similarity of the Shiba Inu dog and the infamous internet meme Doge has been around since its launch on December 6, 2013. Dogecoin is seven years old and was developed by Jackson Palmer and programmer Billy Markus.

The purpose of the coin has always been to exist for fun and to reach a broader population. The delivery cap for Dogecoin is much larger than Bitcoin’s 21 million since there are 127.7 billion DOGE in circulation.

Additionally, many people believe that Tesla’s founder Elon Musk is responsible for bringing Dogecoin back into the spotlight in 2020. On December 20, 2020, Musk tweeted: “One word: Doge” and another time he called himself “Former” CEO of Dogecoin on his Twitter profile. “

Earlier this year, many crypto fans tried to pump Dogecoin to a dollar per token on the Tiktok social media app. That never came to fruition, of course, but DOGE saw a lot of profits at the time.

Although Palmer and Markus created Dogecoin just for fun, the Shiba Inu dog token has managed to remain quite valuable over the past seven years. The coinage community is known for being extremely generous to charity, and dogecoin even had its own NASCAR vehicle.

Despite being worth only a US cent and billions of Doge coins in circulation, it has managed to remain a top 25 contender for coin market cap. Just to show that you can’t keep a good dog down.

What do you think of Dogecoin’s meteoric rise over the past year and last week’s profits? Let us know what you think on this matter in the comments section below.

Tags in this story

Crypto Assets, Digital Currencies, Doge, Doge Price, Dogecoin, Dogecoin (DOGE), Elon Musk, Meme Token, Shiba Inu Dog, Such Wow, Tiktok Pump

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