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Dogecoin, Elon Musk’s Favorite Cryptocurrency, Turns 8. Here’s How It Has Performed This Year

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The original meme coin has turned eight.

Dogecoin, the meme coin that started it all, has already turned eight, becoming a major player in the crypto industry. 

In May, the joke cryptocurrency, which was launched by Billy Markus and Jackson Palmer on Dec. 6, 2013, to ridicule altcoins, was worth over $90 billion in early May after experiencing a massive rally.

With the help of high-profile proponent Elon Musk, other celebrities and incessant media coverage, Dogecoin had surged an eye-popping 17,000% in just four months in early 2021, captivating the entire investing community.

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The Bitcoin parody has also inspired a whole bunch of copycats, with Ethereum-based Shiba Inu becoming its most prominent knock-off and stealing the top dog’s luster in October.

Dogecoin is down 76.1% from its all-time high, but it is still up a staggering 6,943% since the start of the year, making its long-term holders part of the crypto nouveau riche.

Markus, who now frequently interacts with Musk on Twitter, claims that 2021 has been his second strangest year because of Dogecoin.  

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 Palmer, however, is unlikely to celebrate the birthday of the joke cryptocurrency he co-created since the Australian programmer abandoned the community a long time ago. In a July tweet, he claimed that the crypto industry was controlled by “a powerful cartel.”

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