Always stay on top of the latest Dogecoin price in USD with Capital.com’s live chart
The DOGE/USD pair matches the popular cryptocurrency – Dogecoin (DOGE) – with the world's primary reserve currency – the American dollar (USD). The pairing represents how many dollars are needed to buy one Dogecoin.
The Dogecoin cryptocurrency was introduced to the market in December 2013. It was created by IBM software engineer Billy Markus and Adobe engineer Jackson Palmer, featuring the face of the famous Doge meme’s Shiba Inu dog as its logo. The Dogecoin protocol is based on the now-defunct Luckycoin, which was a fork of Litecoin (LTC).
Throughout years, the coin’s use has evolved beyond a fun meme. The coin’s unlimited supply and relatively low price have made it popular for small transactions among social media communities. It is now being accepted by some online stores for payment. DOGE has also become available on many cryptocurrency exchanges, boosting its trading volumes.
With Capital.com’s comprehensive DOGE/USD price chart, you can now only quickly view the current value of Dogecoin, but also trace its price in historic terms.
Like other cryptocurrencies, Dogecoin is known for its high price volatility. At its launch, the coin was worth $0.000232. The first significant price spike happened in December 2017 when the market rallied across the board with Bitcoin (BTC) reaching $20,000 for the first time.
After peaking at $0.0171 on January 1, 2018, DOGE dropped to trade between $0.002-$0.003. In March 2020, during the broader market selloff caused by the Covid-19 pandemic, the coin dropped to $0.001, right before soaring to $0.004 in July. After falling below the $0.003 level in September, it gained another upward momentum in December and closed the year at $0.004.
On January 2, 2021, Dogecoin’s price doubled from $0.0056 to $0.0106 but slipped to trade at $0.0072 on January 27. The coin then soared to $0.0779 on January 29, however, it quickly fell to $0.0224 on January 30. A strong rally then followed, driven by a series of tweets from Tesla CEO Elon Musk and rapper Snoop Dogg, as well as discussions on Reddit. On February 8, DOGE traded at $0.0849, making it the ninth-largest cryptocurrency with a market capitalisation of $10.8bn.
Due to the extremely volatile nature of the crypto market, the DOGE/USD crypto-to-fiat currency pairing offers huge potential for speculation and makes it a strong alternative to traditional forex markets. Traders can try to profit from the DOGE/USD rate fluctuations by taking long or short positions on the pair, using Capital.com’s proprietary trading platform that features a real-time Dogecoin price chart and charges zero per cent commission on trades.