The leading cryptocurrency bitcoin has surpassed new all-time highs (ATH) in 2020 and also in 2021. However, many other digital assets have a long way to go to reach the ATH they experienced in 2017 three years ago. While a particular legacy cryptocurrency, the popular meme token Dogecoin, is approaching its 2017 ATH, well ahead of many legacy coins. In fact, Dogecoin’s annual gains have surpassed bitcoin’s gains by increasing more than 535% over the year.
A large number of cryptocurrencies have yet to surpass their all-time high (ATH) from the 2017 bull run three years ago. Ethereum (ETH) is still just over 33% away from 2017’s ATH, coming closest in the top ten to do so, with the exception of newer crypto assets such as LINK and DOT. During the price, the popular meme token peaks on Sundays dogecoin (DOGE) was only 32.29% from reaching the cryptocurrency ATH in 2017.
Dogecoin has done extremely well over the past year and during the last 24 hours of trading, the token is up more than 38%. DOGE is up 184% over the past week, 294% for the month and 394% for the 90-day period. Dogecoin has even won 115% against it BTC, which is uncommon for most alternative crypto assets these days.
Additionally, if one were to invest in dogecoin at the beginning of the year, their DOGE would have gained more than 535% against the US dollar.
The cryptocurrency with the likeness of the Shiba Inu dog and the infamous internet meme Doge has been around since its launch on December 6, 2013. Dogecoin is seven years old and was developed by Jackson Palmer and programmer Billy Markus.
The purpose of the coin has always been to exist for fun and reach a wider audience. Dogecoin’s inventory limit is much greater than bitcoin’s 21 million as there are 127.7 billion DOGE in circulation.
In addition, many people think Tesla’s founder Elon Musk is responsible for bringing dogecoin back in 2020. On December 20, 2020, Musk tweeted “One word: Doge” and another time on his Twitter profile he called himself the “Former CEO of Dogecoin. . “
Then earlier this year, many crypto fans on the social media app Tiktok tried to pump up dogecoin to a dollar per token. That never materialized, of course, but DOGE saw a lot of profit at the time.
Despite Palmer and Markus creating dogecoin for fun, the Shiba Inu dog token has remained quite valuable for the past seven years. The coin’s community is known for being extraordinarily generous to charity, and dogecoin even had its own NASCAR vehicle.
While it’s only worth a US cent and there are billions of dogecoin in circulation, it has managed to remain a top 25 contender in the currency market. It just goes to show that you can’t control a good dog.
What do you think of dogecoin’s rapid rise in the past year and its gains over the past week? Let us know what you think about this topic in the comments below.
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