Dogecoin (/ˈdoʊdʒkɔɪn/) is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant, fun, and free from traditional banking fees. Dogecoin features the face of the Shiba Inu dog from the "Doge" meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalization of US $5,382,875,000 on January 28, 2021.
During 2017 to early 2018 Cryptocurrency bubble, Dogecoin briefly reached a peak of $0.017/coin on January 7, 2018, putting its total market capitalization near USD 2 billion.
In July 2020, the price of Dogecoin spiked following a TikTok trend aiming to get the coin's price to $1.
In January 2021, Dogecoin went up over 800% in 24 hours as a result of attention from Reddit users, partially encouraged by Elon Musk and the GameStop short squeeze.
In February 2021, Dogecoin hit its all-time high price following Twitter encouragement from Elon Musk, Snoop Dogg and Gene Simmons.
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