The yearly gains of Dogecoin (DOGE), the crypto-lands favorite meme-coin, have outpaced Bitcoin’s gains by rising more than 535% during the course of the year.
It has been reported that as Bitcoin has crossed new all-time highs (ATH) in 2020 and into 2021, Dogecoin is nearing its 2017 ATH, well before a large slew of older coins.
However, a great number of cryptocurrencies have yet to cross their all-time high (ATH) from the 2017 bull run three years ago. For instance, ethereum (ETH) is still a touch over 33% away from the 2017 ATH and it’s the closest in the top ten to do so, excluding newer crypto assets like LINK, and DOT.
During the price highs on Sunday, Dogecoin was only 32.29% away from reaching the crypto asset’s ATH achieved in 2017.
Likewise, Dogecoin has done extremely well during the last year and during the last two days of trading, the token is up over 38%. DOGE has jumped 184% two weeks ago, 294% for the month, and 394% for the 90-day span.
According to the report, if anyone wants to invest in Dogecoin during the start of the year, their DOGE would have gained over 535% against the US dollar.
The coin’s purpose has always been to exist for fun and reaching a broader demographic. The supply cap of Dogecoin is much larger than Bitcoin’s 21 million as there’s 127.7 billion DOGE in circulation, as the coin has been around since its launch on December 6, 2013.
Dogecoin is seven years old and was developed by Jackson Palmer and the programmer Billy Markus.
As per the sources, lots of people think Tesla’s founder Elon Musk is responsible for bringing Dogecoin back into the limelight 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.”
Earlier this year, many crypto fans on the social media app TikTok tried to pump Dogecoin up to a dollar per token, but DOGE saw a lot of gains at the time. The coin’s community is known for being extremely generous toward charity and Dogecoin even had its own NASCAR vehicle as well.
Thus, it has managed to remain a top 25 coin market cap contender.
Source: Bitcoin News