Dogecoin is the personal favorite of billionaire Elon Musk. Doge coin is a crypto coin which was an internet joke at first on a Shiba Inu and that is a meme material even used now. Doge coin prices were sky rocketing back in 2019-20 when Elon Musk used to promote the crypto. With his single tweet, the prices used to reach the skies. But it all changed after the dip in 2020, Doge coins lost 80% of their value over night. And after that, Elon stopped twitting about Doge coin altogether. But after that, we saw that the coin is slowly gaining back its popularity and the prices are also going up after a long time. However, with the big dip in all other cryptocurrencies, people are calling it the end of the cryptocurrencies but experts beg to differ. Doge coin is not so different, it also saw a lot of loss in its valuation at the start of 2022. So the question that arises in the minds of investors is whether, will dogecoin be able to make a comeback this year or not? This is why in this article we will be telling you all about dogecoin and how it started. Moreover, we will discuss if the prices will go up or not. So keep on reading to know more about the doge coin and its prices in 2022.
The Historical Time Line Of Dogecoin
The doge coin is a crypto coin that was spun around on a doge meme. This meme was started back in 2013 and featured the famous Shiba inu the Japanese dog.
The dogecoin first started as a witticism in a group of friends whole were engineers by profession. One was from the IBM Billy Marcus and the other one was working for Adobe and his name was Jackson palmer.
It was a result of a joke that started on Bitcoin and doge; they mixed the two names and created a new name for a new cryptocurrency called doge coin.
After creating that idea of dogecoin believe tweeted that dogecoin is going to be a pretty big hit soon. After that, he was encouraged by the idea of cryptocurrency and he eventually decided to buy the domain, dogecoin.com in 2013 which led to the rise of dogecoin.
After its launch in 2013 dogecoin was an instant hit on social media platforms like reddit. Reditors became a fan of the dogecoin because of the mean and all the controversies that was surrounded by it.
Thanks to the promotion done by the reditors the evaluation of dogecoin reached up to 8 million US Dollars at that time. After that in 2017 the cryptocurrency doge coin saw a sudden hike in prices. It’s valuation kross 2 billion dollar market value.
People using reddit became very excited about it and tried their best to push the coin value equal to a dollar. They started making tik tok trends and many other marketing ideas to promote the coin more but it was all in vain the coin prices remain the same.
However this stalemate was changed when back in 2018-19 Elon Musk started promoting dogecoin. He used to tweet about dogecoin and the prices used to jump sky High.
However, it is reported that Elon Musk used his tweets to make the prices go up and then banked all the profits and left the dogecoin market for good. Thanks to that the market of dogecoin crashed very badly and after that it is still recovering to reach its peak.
Will The Dogecoin Price Go Up?
Similar to other cryptocurrencies like Bitcoins, doge coin is also estimated to rise back up to its peak soon by experts. However the damage done by the previous celebrities like Elon musk to the coin is very substantial as it will take much more time than other cryptocurrencies to bounce back on their feet.
Conclusion
In the end to conclude this we can say that dogecoin will be back as other cryptocurrencies have started to get back on their feet. However the popularity of inertia bar and the meme is still alive thus the popularity of coin is also alive and people are going to invest in it.
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