Dogecoin’s price is currently $ (USD). Read more on DOGE price analysis, comparisons, and historical pricing data below.
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Today, Dogecoin’s price of $0.08 is down by 0.6% compared to the previous trading day.
Read on to see Dogecoin’s price/event timeline, where we cover key price changes in relation to trigger events.
Dogecoin Price History Timeline
Dogecoin’s history dates back to its initial release in 2013. It started off as a meme, a joke, but became a digi-finance sensation as a result of mainstream media attention and endorsements.
Here’s a brief history of DOGE prices and significant news releases since its release on December 16th, 2013.
- December 19th, 2013: Three days after the release of DOGE at $0.0002047, the coin climbs more than +500%.
- DOGE Price: $0.001162
- August 18th, 2014: Price hit a to-date all-time-low as initial launch ‘hype’ dies down.
- DOGE Price: $0.000108
- May 6th, 2015: Dogecoin founder Jackson Palmer announces leave of absence while new all-time-low hits.
- DOGE Price: $0.000087
- January 26th, 2016: Increased media traction, Elon Musk announces potential DOGE payments for Tesla merchandise.
- DOGE Price: $0.000455
- June 5th, 2017: Bitcoin price-hike pulls along DOGE to new all-time-high, rumors about Elon Musk’s brief endorsement still circulate.
- DOGE Price: $0.003873
- January 7th, 2018: Market capitalization reaches $2 billion, media outrage follows.
- DOGE Price: $0.01709
- July 12th, 2018: Price steadies after uncalled for ‘price pump’, set for the coming year’s correction price.
- DOGE Price: $0.002306
- July 5th, 2019: Binance lists Dogecoin on its exchange.
- DOGE Price: $0.003867
- September 26th, 2019: Price correction and bear-market after Binance listing.
- DOGE Price: $0.002155
- March 12th, 2020: Further correction and reversal before a take-off to new highs, investor Mark Cuban announces DOGE holdings.
- DOGE Price: $0.001537
- May 4th, 2020: Continuous news related to past Elon Musk endorsements, keeping DOGE in the limelight.
- DOGE Price: $0.00246
- July 8th, 2020: Dogecoin purchase challenge trends on TikTok and DOGE soars in price.
- DOGE Price: $0.00476
- September 5th, 2020: Dogecoin network allegedly used by hackers to deploy malware — price drops.
- DOGE Price: $0.00278
- February 7th, 2021: Price hike to new highs after SatoshiStreetBets Reddit group and Elon Musk tweet about DOGE on the cover of ‘Dogue’ magazine.
- DOGE Price: $0.079
- May 17th, 2021: DOGE price falls, Elon Musk calls it a ‘hustle’ on Saturday Night Live.
- DOGE Price: $0.487
- August 16th, 2021: DOGE rallies, news trends on Elon Musk and Mark Cuban’s conversations on the potential of the cryptocurrency.
- DOGE Price: $0.319
- September 24th, 2021: News on Elon Musk’s comments about Dogecoin fees being too high for mainstream movie service adoption.
- DOGE Price: $0.209
- October 6th, 2021: AMC Entertainment begins to accept DOGE as payment for gift card purchases.
- DOGE Price: $0.254
- December 4th, 2021: Pressures from Shiba Inu coin mount, DOGE prices suffer.
- DOGE Price: $0.179
- December 14th, 2021: Repeat news surfaces on Elon Musk allegedly planning to accept Dogecoin as payment for Tesla merchandise.
- DOGE Price: $0.191
- January 15th, 2021: Again, repeat news on Elon Musk’s plans to accept DOGE as payment for Tesla goods.
- DOGE Price: $0.185
Today’s Dogecoin price is $0.08.
DOGE Price vs Other Cryptos
See how DOGE performed against other cryptocurrencies over the past month:
Bitcoin’s Impact On DOGE Price
Like many other crypto prices, Dogecoin’s price has been influenced by Bitcoin’s. As the cryptocurrency market matures, coins create markets and following of their own, but Bitcoin continues to be an influence as the oldest and leading crypto.
Since the founding of both Dogecoin and Bitcoin — both founded in 2013 — it’s not news that the two coins have moved together, along with other coins like Ethereum and Dash.
However, in recent years, many altcoins like DOGE began to move at their own pace and slightly diverge during Bitcoin rallies.
Speculators named such newly seen deviations between Bitcoin and altcoin prices as ‘altcoin season’ and ‘Bitcoin season’. Altcoin season refers to a favorable time for cryptocurrencies other than Bitcoin, while Bitcoin season refers to times of bullish Bitcoin markets.
The earliest dominance of altcoins like Dogecoin and the corresponding slump in Bitcoin prices was seen in early 2018. As parts of the cryptocurrency market gain roots in national and global economies, coins like Dogecoin are expected to set price trends of their own.
What Drives the Price of Dogecoin?
Dogecoin is a cryptocurrency, and like all cryptocurrencies, it is highly volatile and prone to large surges and dips.
Here’s a summary of some key price drivers that contributed to Dogecoin’s turbulent history and abrupt price changes.
Does Dogecoin Get Media Attention?
The primary price driver for DOGE is media attention, especially given its digital cultural influence. See the DOGE timeline for examples.
The meme-based coin saw a surge in value in early 2018 as a number of media outlets began to pick up the story that Doge had hit a market cap of over $2.0 billion dollars.
Elon Musk also openly endorsed the coin in July 2020, which resulted in a 14% price hike. Musk’s continues to tweet about Dogecoin and remains to be thought of as a huge DOGE influencer today.
Dogecoin got even more media attention in early 2021 on the back of the Wallstreetbets GameStop phenomenon. That’s the same year when DOGE’s market capitalization surged beyond $80 billion, with a new all-time-high reaching close to $0.70.
These kinds of stories tend to result in new traders pouring money into a currency, often due to the fear of missing out (FOMO).
However, these surges are often followed by sharp crashes, known as ‘corrections’, as large volume traders engage in profit-taking. It can be possible to try and predict those crashes but it is risky and it may result in losses.
Following a bull run in May 2021, DOGE crashed by almost 74% within just over one month from around $0.68 in May to $0.17s by June.
Updates To Dogecoin’s Features
Dogecoin has not seen any major updates since 2015, so any rumor of new features could well lead to an increase in prices.
You should keep your eye on the Dogecoin Reddit account in an attempt to anticipate any new features or services of Dogecoin that plan to utilize Dogecoin as a payment method.
These kinds of announcements tend to lead to an increase in a cryptocurrency’s value.
The most recent notable impact on DOGE has been the REN project’s cross-chain liquidity solution that allowed renDOGE to be accessed on the Ethereum blockchain. The heavy technological lifting was not done on Dogecoin’s side.
Still, a coin with such popularity can afford to remain static in development, or the lack of.
Dogecoin’s Active Subreddit Thread
With Dogecoin, in particular, it is worth keeping an eye on their subreddit.
Dogecoin users have also been known to take marketing into their own hands. In 2021 a number of users from the community successfully advertised Dogecoin on billboards around the United States.
In between all of the memes and jokes, the community occasionally attempts to organize serious events such as fundraisers.
If Dogecoin users successfully complete a fundraiser, it will garner media attention which is likely to result in a positive price rise for DOGE.
What Is The Price Outlook For Dogecoin?
Even by cryptocurrency standards, Dogecoin has experienced particularly pronounced price shifts.
On a medium-to-long-term basis, Dogecoin has been on a general upward trend, like many other cryptocurrencies. That said, 2021 has shown some cryptocurrencies to set more specified market paces of their own, including DOGE.
As more mainstream traders become involved in cryptocurrency trading you should expect to see prices broadly moving upward with some slightly rocky periods.
Learn More About Dogecoin
Want to read more about Dogecoin? Head over to the following pages:
- Dogecoin: About the cryptocurrency, its consensus mechanism, and why it’s considered valuable.
- Guide to DOGE Trading: See how and where you can trade Dogecoin, with a list of recommended crypto exchanges.
- Crypto Broker Guide: The process of choosing a cryptocurrency broker or exchange, simplified and explained.
- Guide To Cryptocurrency Trading: See the ins and outs of crypto trading, what you can trade, and how you can speculate on price movements.
- Live Bitcoin Price Guide: Keep up with BTC prices and correlations against DOGE.
What is the price of Dogecoin?
Today, Dogecoin’s price is at $0.08. DOGE is currently down by 0.6% from the previous trading day, and down by 0.24% from one week ago. If you want to learn more about Dogecoin’s price and performance, see this comparison of DOGE vs other cryptos, and our summary of Dogecoin’s price timeline in relation to media influences.
Why did the price of Dogecoin rise in 2021?
Dogecoin saw the beginning of a rally on April 11th, 2021 from the price of $0.0741 to a still-standing all-time-high of $0.6359 on May 8th. Compared to this all-time-high, DOGE is currently down by 86.93%. The sudden and unexpected price hike of the meme-coin was mostly attributed to Elon Musk’s endorsements, and Reddit ‘hype’.
Is it profitable to mine Dogecoin?
The profitability of Dogecoin mining depends on the difficulty of solving problems (the process of mining) and the overall security costs-reward ratio of the operation. At the time of writing, the average time between mined blocks is just over 1 minute, with an average reward per block at 10,000+30.29 DOGE. Another key factor to consider for a profitable DOGE mining operation is the required hash rate from your hardware. Learn more about DOGE mining in our Dogecoin Guide.
Is Shiba Inu different from Dogecoin?
Dogecoin and Shiba Inu are two different cryptocurrencies. Aside from both crypto coins having a Shiba Inu dog as a logo, the underlying technologies and distributions are fundamentally different. Dogecoin operates on a proof-of-work (PoW) consensus and is jointly mined with Litecoin, while SHIB is a token on the Ethereum network. In 2021, SHIB briefly overtook DOGE in market capitalization, starting the dog fight among the two cryptocurrencies.