David Gokhshtein, CEO of Gokhshtein Media, says Dogecoin (DOGE) is similarly heading towards its 2017-2018 highs. Dogecoin was trading marginally at $0.08 at press time.
Interesting tweet from David Gokhshtein for DOGE!
Now, the meme cryptocurrency is down 89.17% from its all-time high in 2021. However, to understand how the meme cryptocurrency has performed over the years, a summary of its price history may be necessary. David Gokhshtein, CEO of Gokhshtein Media, shared on Twitter:
In 2017, I think DOGE’s ATH was around $0.07. Add this to the research.
The story of the popular meme coin Dogecoin How did it start?
Australian entrepreneur Jackson Palmer and software programmer Billy Markus invented Dogecoin in 2013 as a ‘prank cryptocurrency’. The cryptocurrency market saw a significant increase in individual investment for the first time in 2017. As it will be remembered, the first surprising price rally of Dogecoin (DOGE) occurred in early March 2017. In addition, DOGE has caused a significant rise in alternative cryptocurrencies (aka altcoins).
The parody coin has gained more than 1.890% in 70 days. DOGE rose to $0.0042 from initial levels of $0.0021 on May 21. Then its market value rose to $423 million. Shortly after, there was a two-week market correction that affected all cryptocurrencies. During this correction, Dogecoin lost 75% of its value.
Dogecoin surpassed $0.02 in the first seven days of 2018, up 380% from the previous peak. Its market capitalization had nearly quadrupled at that time to $1.6 billion. However, this was only temporary. Because the DOGE price dropped by about 70% in just eight days to $0.0047.
How did DOGE gain popularity and skyrocket in price?
Later, high-profile celebrities such as Tesla CEO Elon Musk (‘The Dogefather’), Mark Cuban and others started supporting DOGE in 2021. As we have mentioned in the news of Kriptokoin.com, the Dogecoin fanfare has started. DOGE’s price has traded largely below the $0.01 price point for most of 2018. However, a few short-terms traded around $0.02.
Now let’s fast forward to 2021. Dogecoin rose to an all-time high of $0.74 in May. However, DOGE has since lost nearly 90% of its value. At press time, Dogecoin was the 10th largest cryptocurrency with a market cap of $10.57 billion, according to CoinMarketCap data. DOGE was trading at $0.07931, down 0.11% on a daily basis.
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