Dogecoin Price Overview
The current Dogecoin price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of Dogecoin is based on a market capitalization of EUR. Dogecoin has a circulating supply of . The highest recorded Dogecoin price is EUR. And the lowest recorded DOGE price is EUR.
How do Dogecoin price movements correlate with market trends? Check our comprehensive cryptocurrency price page for information at a glance.
Dogecoin (DOGE) was created in December of 2013 by software engineers Billy Markus and Jackson Palmer as a fork of Litecoin (LTC) – which is itself a fork of Bitcoin (BTC). Its founders’ aim was to create an instant and fun system for payments which is free from traditional banking fees. The primary use case for Dogecoin was originally as a tipping system for users of Reddit and Twitter. The name of the cryptocurrency was inspired by the popular Shiba Inu-themed “Doge” meme, which is also used as the coin’s logo, and Dogecoin has remained a staple of memes among the crypto community.
The price history of DOGE has included some pretty dramatic changes and if you want to know why then you’re in the right place. We’ve compiled everything you need to know about the price of DOGE – as well as the factors which influence it.
Dogecoin Price History
Dogecoin first hit the crypto market in December 2013 trading at around $0.00026 per coin. It had a volatile start, almost quadrupling to a tenth of a cent within a couple of days before falling back down below $0.00026 in the first week of 2014. Around the middle of January, DOGE price shot up by 600% in under a week, peaking at $0.0021. Prices crashed to about half that level in the first week of February, and after retesting $0.0019 a few days later, DOGE gradually declined until it hit a low of $0.0001 in mid-August. Following a brief upsurge to $0.0004 a month later, prices fell again and DOGE ended the year at less than half that price.
2015 saw prices mostly decline for the first half, with DOGE reaching a new low of $0.00009 in May. Some growth in the summer took Dogecoin as high as $0.00022, but by the end of the year, it had fallen back to $0.00015. The next year, a spike in January saw prices more than triple, but this was followed by a crash and the rest of 2016 was fairly flat, with Dogecoin being worth $0.00023 at the year’s close.
After a fairly uneventful first quarter, Dogecoin climbed to $0.0039 in May 2017, but the rally really got started in December. December 25th brought some welcome Christmas magic for Dogecoin holders as its price broke $0.01 and its market cap exceeded $1 billion for the first time. The surge continued for another fortnight until it peaked at $0.0167 on January 7th 2018, representing gains of 700% since the start of 2017. Prices crashed back down to $0.0032 a month later, and despite a few more attempts to rally, Dogecoin remained well below a cent for the rest of the year.
Dogecoin began 2019 at less than a quarter of a cent, and the rest of the year brought little excitement – especially when compared with 2018. 2019 did see some minor action, with spikes to $0.0039 and $0.0044 in April and July respectively.
In the first couple months of 2020, DOGE climbed from $0.002 to almost half a cent, but this wasn’t sustained for long and prices reached a low of $0.0011 following a crash of more than 26% in a single day in March. After steadily recovering, DOGE suddenly spiked to $0.0056 in July but was mostly range-bound between $0.0025 and $0.0039 for the next few months. There was some growth towards the end of the month which saw DOGE finish 2020 trading at $0.0047.
2021 was Dogecoin’s best year by far – the memecoin had already broken $0.01 again by the 2 January. Most of that month was spent in consolidation until DOGE soared by 392% in 24 hours on 28 January and peaked at $0.0875 the next day. This was followed by another couple of months of consolidation before DOGE price exploded in April. Prices doubled on 16 April alone when Dogecoin hit its all-time high of $0.45. This saw DOGE’s market cap surpass $50 billion as it briefly became the fifth largest cryptocurrency by market cap. DOGE had pulled back to $0.29 less than a week later, but this still represented year-to-date gains of over 6,100%.
Analyzing Dogecoin’s Price History
DOGE’s price history can be analyzed with many of the same techniques as stock market analysis. Technical analysis (TA) involves using various indicators while studying price charts in order to make sense of previous price movements. With Dogecoin, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges. In fact, during Dogecoin’s first major surge in January 2014, its trading volume briefly surpassed that of Bitcoin and all other cryptocurrencies combined.
Fundamental analysis (FA), on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. Co-founder Jackson Palmer left the project back in 2015 and there has only been one significant update to the protocol’s core since July 2019, which isn’t a very strong sign for the coin’s fundamentals.
The rest of the crypto economy seems to have played a role in Dogecoin’s price history as its big surges in 2014, 2017 and 2021 came hot on the heels of major Bitcoin bull runs when the entire crypto market was booming. Broader market trends have also been important as DOGE’s huge single-day drop in March came when economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole cryptocurrency sector and the entire stock market, which experienced the biggest single-day crash since 1987.
One of the most important factors in DOGE’s previous price action has been social media. The sudden upward spike Dogecoin experienced in July 2020 was the result of a TikTok trend that aimed to push the coin’s price up to $1. The price of DOGE also reacted favourably when it was tweeted about by celebrities – most notably Tesla CEO Elon Musk and Snoop Dogg.
The overall price trend of DOGE tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.
Factors Influencing The Price of Dogecoin (DOGE)
A variety of different things can affect the price of Dogecoin, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider cryptocurrency and global economies.
Dogecoin was launched with an initial total supply of 100 billion DOGE. There is no upper limit on the supply of DOGE, which has been increasing by 5 billion each year. This inflation means that the coin is subject to debasement over time, like fiat currencies, and for the price of DOGE to rise, demand for the coin must increase at a greater rate than its supply.
The main influence on DOGE price lately seems to be the hype created by social media. When mainstream celebrities post or tweet about the coin, they raise awareness of it and introduce it to a new audience.
As DOGE popularity increases the coin receives more exchange listings and is accepted as payment by more companies and services. These events make Dogecoin more accessible and help increase adoption of the cryptocurrency which could drive up its price.
Live Dogecoin Value and Market Cap
The live Dogecoin value varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux.
Given DOGE’s volatility, its live price can change by a large amount in a very short space of time. The market cap of Dogecoin is equal to the price of DOGE multiplied by the number of DOGE in circulation.
Dogecoin Price FAQ
What Is the Highest Price of Dogecoin in EUR?
Dogecoin price history shows that DOGE has recorded a peak value of EUR.
What Is the Lowest Price of Dogecoin in EUR?
Kriptomat data confirms that EUR is the lowest recorded Dogecoin value.
How Can I Buy Dogecoin?
There’s no need to consult an expert to tell you how to buy Dogecoin. It’s fast and easy to buy DOGE at Kriptomat. Dogecoin is available for immediate purchase at the current DOGE price quote of EUR. Current prices are always displayed in the DOGE chart.
What Is the Current Price of Dogecoin in EUR?
Dogecoin is available for immediate purchase at Kriptomat. The current price is EUR.
How is the price of DOGE calculated?
DOGE’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying DOGE than selling it, the price goes up, and when more are selling than buying, the price goes down.
Why is the price of DOGE different on different cryptocurrency exchanges?
DOGE’s price is based purely on trading as there is no standard global Dogecoin price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.
What will DOGE be worth in the future?
It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of Dogecoin. The inflationary nature of Dogecoin could subject it to devaluation over time, but further social media attention in the future could counteract this and lead to a rise in price.
Dogecoin has been on something of a wild ride, from trading at $0.00026 following its launch in December 2013 to reach an all-time high of $0.45 in April 2021. The journey wasn’t a smooth one though as DOGE’s volatility led to many surges and crashes along the way.
A variety of different factors have played a role in determining the price of DOGE, including its inflationary supply, celebrity endorsements, and social media hype, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.
If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Dogecoin and cryptocurrencies!