10/15/2022 | U.Today

Dogecoin Set To Mark Its Nine Years of Existence and 63 "Dog Years"

Dogecoin Set To Mark Its Nine Years of Existence and 63 "Dog Years"

Dogecoin, the first and largest dog-themed cryptocurrency, will celebrate nine years in December. According to the official Dogecoin Twitter handle, this represents 63 years in "dog years" and a billion in crypto years.

On Dec. 6, 2013, Dogecoin was born by software engineers Billy Markus and Jackson Palmer as a joke, making fun of the wild speculation in cryptocurrencies at the time.

In terms of market capitalization, DOGE is now the 10th largest cryptocurrency with a market valuation of $7.78 billion. Dogecoin also enjoys a strong following on social media. The meme coin's Twitter account has a following of over 3.4 million.

Dogecoin also sees love from eminent personalities, one of which is the Tesla CEO. Elon Musk has been a staunch supporter of Dogecoin since April 2019, when he tweeted about the meme coin being his favorite cryptocurrency.

Dogecoin reached an all-time high of $0.76 in May 2021, just before Musk's appearance on "Saturday Night Live." Dogecoin is down 92% from this peak at a current price of $0.058.

As reported by U.Today, Tesla CEO Elon Musk says he would continue to support Dogecoin wherever possible, noting the fact that he was responding to individuals who had encouraged him to buy and support the cryptocurrency.

Upcoming updates

Dogecoin's most recent core update, 1.14.6, launched in July and introduced several new features as well as significant security fixes and changes to the existing fee structure. The recommended dust limit was lowered from 1 DOGE to 0.01 DOGE.

Currently, two key releases — core update 1.14.7 and 1.21, referred to as "a foundation for (Dogecoin's) future" — are in the works.