According to U.Today, Dogecoin (DOGE), the popular dog-themed cryptocurrency, has marked its 11th anniversary. Created on December 6, 2013, by software engineers Billy Markus and Jackson Palmer, Dogecoin began as a lighthearted joke but has since evolved into a significant player in the cryptocurrency market. The crypto community, led by the official Dogecoin X handle, has taken to social media to celebrate this milestone for the original meme coin.
A notable event this year was the passing of Kabosu, the Shiba Inu dog that inspired the "doge" meme, in May. Kabosu's image became synonymous with Dogecoin, inspiring a generation of online humour and becoming the symbol of cryptocurrency. As Dogecoin celebrates its 11th anniversary, it continues to hold a strong position in the market, ranking as the seventh largest cryptocurrency with a market capitalization of $62.68 billion, according to CoinMarketCap.
Dogecoin has experienced a rise in value since September, driven by positive market sentiment and Bitcoin's surge past the $100,000 mark. The cryptocurrency's growth has also been influenced by Elon Musk's tweets, which have often boosted its popularity. In November, Dogecoin saw a 161% increase, although it recently experienced a slight decline of 4.61% to $0.426. Despite this, it remains 3% higher on a weekly basis, having reached a three-year high of $0.48 in late November.
Looking ahead, the Dogecoin Foundation, a nonprofit organization dedicated to the development of the Dogecoin ecosystem, aims to enhance the cryptocurrency's adoption as a practical currency for everyday transactions. Since 2021, the foundation has focused on making Dogecoin more scalable and efficient as a global means of exchange. Going into 2025, the foundation plans to continue its open-source initiatives through the Dogebox Decentralized Infrastructure System. This system is designed to help small businesses self-host and manage their online stores, facilitating the integration of Dogecoin as a direct payment method. The foundation envisions this as a step towards onboarding the first million grassroots retailers to accept Dogecoin, further solidifying its role in the global financial landscape.
