Breaking news! The president has made an announcement regarding federal student loan forgiveness.
Refi now and save money before rates rise again. Learn more

Dogecoin Price History: 2013 to 2022

By Samuel Becker · September 20, 2022 · 4 minute read

We’re here to help! First and foremost, SoFi Learn strives to be a beneficial resource to you as you navigate your financial journey. Read more We develop content that covers a variety of financial topics. Sometimes, that content may include information about products, features, or services that SoFi does not provide. We aim to break down complicated concepts, loop you in on the latest trends, and keep you up-to-date on the stuff you can use to help get your money right. Read less

Dogecoin Price History: 2013 to 2022

Dogecoin (DOGE) — the infamous meme coin that launched in 2013 — has had a wild history of price fluctuations. At one point, it was worth a fraction of a penny, but then saw a “to the moon” moment where it peaked at an all-time high of about 74 cents in May of 2021.

Dogecoin itself was created as a joke based on a viral internet meme of a Japanese Shiba Inu dog. In 2013 two software engineers, Billy Marcus and Jackson Palmer, created Dogecoin or Doge (pronounced “dohj”) as a satirical take on other crypto projects. The coin has never been worth even one dollar.

Doge was originally designed to be a simple blockchain-based payment system. However, it quickly attracted a large number of supporters who developed new use cases for it, including a third-party tipping service bot called “DogeTipBot” that interfaced with Reddit, where users could send tips for content posted on the site.

Dogecoin Price History

The code for Dogecoin is based on Litecoin, and uses scrypt technology. That scrypt technology set it apart from other kinds of cryptocurrency, including Bitcoin, which uses a different proof-of-work algorithm called SHA-256.

Essentially, Dogecoin’s code allows for an unlimited supply of dogecoins, which has contributed to its historically low price.

This makes Dogecoin a so-called “inflationary coin,” whereas Bitcoin and similar cryptocurrencies are considered deflationary, because there’s a fixed limit to the number of coins miners can create. Dogecoin launched with a total supply limit, similar to Bitcoin’s total coin limit, but the Doge supply is no longer capped. Plus, anyone can begin mining Doge immediately.

The price of Doge picked up in popularity over the years, with prices rising and dipping in 2017, and then hitting a peak in 2018 from bullish investors’ support. The cryptocurrency reached another level, however, when Tesla CEO Elon Musk and some other celebrities began tweeting about Doge at the start of 2021.

Between January and May 2021, Doge rose by 9,884%, from about 3 cents to 74 cents.

Dogecoin Price in 2013: The Start

Dogecoin Price in 2013: $0.00 to $0.0004

On December 15, 2013, Doge was first traded on cryptocurrency exchanges at a price of $0.00. The currency became popular among crypto users, and two weeks after its launch, the r/Dogecoin Reddit channel started attracting thousands of users and contributors.

Within the first two weeks of its launch, the Doge’s price soared from $0.0002 to $0.0023, which amounted to a 1,061% increase, although the ultimate value at the end of 2013 was still miniscule.

Dogecoin Price 2014 to 2019: Catching the Public Eye

Dogecoin Price 2014 to 2019: $0.0003 to $0.0020

The 2014 launch of DogeTipBot, a crypto tipping service, was a watershed moment for the cryptocurrency because it attracted users who normally would not have used Doge. It also attracted users who would not have had exposure to other types of cryptocurrency or digital tokens.

In 2014, the Doge community also used the currency to donate more than $170,000 in Doge to charitable organizations, including the Dogecoin community’s 2014 donation of 27 million Dogecoins (roughly $30,000 at the time) to help the Jamaican bobsled team compete at the Sochi Winter Olympic games.

The token did not see major price hikes until March 2017, when Doge’s price rose by 1,494%. Then, bullish investors began taking interest in Doge in November of 2017 when the price rose again.

That January 2018, Doge prices rose again and reached another peak, at $0.018. Dogecoin’s market capitalization broke $1 billion around that time. For the following two years, however, Doge had low trading activity.

Safe and secure crypto trading.

With 30 coins available – including DOGE – our app offers a secure way to trade crypto 24/7.


Dogecoin Price in 2020

Dogecoin Price in 2020: $0.0023 to $0.0046

In January of 2020, Doge was $0.0023. That year, the price hit a new peak in July at $0.0032 and then dipped over the next couple of months, until the price surged again in November and reached $0.0035. The year wrapped with Doge at $0.0046.

Dogecoin Price in 2021: All-Time Highs

Dogecoin Price in 2021: $0.0368 to $0.1702

In 2021, Doge began to gain traction again with renewed public support and interest. Between January and May of 2021, Doge rose by 9,884%. By May 2021, Dogecoin rose to its all-time high of $0.74, which is remarkable considering it started the year at $0.0368.

Dogecoin Price in 2022: Settling Down

Dogecoin Price in 2022: $0.1416 to $0.0858

Doge started at $0.1416 in January 2022, which saw a 16.8% price decrease from December 2021. The price surged in March to $0.1380 and then decreased again in May to $0.0858. As of July 20, 2022, Doge was worth $0.074, with a total circulating supply of about 132 billion coins.

Considerations When Investing in Dogecoin

There are a few considerations to keep in mind when investing in Dogecoin. While the coin has seen some incredible peaks and troughs, Doge has never been worth more than a dollar. There’s an unlimited supply of Dogecoin, which means that the value relies on buyers constantly buying new Doge that enters circulation.

There may be higher security risks with Doge because it hasn’t had the same level of code security or scrutiny that many other currencies have had. That goes back to the fact that it traditionally wasn’t treated as a serious cryptocurrency.

Another consideration is that holdings are becoming increasingly concentrated (much like with other crypto assets) — in fact, nine wallets hold more than 40% of all Dogecoin, one of which holds close to 30%. That means that those investors have a heavy hand on how the price could potentially change — they could cash out and the price of Doge would fall, or they could use their large position to manipulate the price of Doge.

The entities with large holdings that could potentially move the markets are often called “whales.”

The Takeaway

For a currency that started at $0.00, its lowest price, Doge has had a remarkable journey. Its most exciting phases include the tipping service DogeTipBot and Musk’s public support of the currency, which caused its peak price of $0.74 and a 9,884% increase within five months in 2021.

Investing in Doge comes with its risks, however, and the future of Dogecoin remains unpredictable and volatile. Still, if you’re ready to join the fun and start trading crypto, it’s easy when you set up an Active Invest account with SoFi Invest. From there you can open a crypto trading account in minutes, and trade dozens of different crypto 24/7. SoFi does not offer staking or a crypto wallet.


Photo credit: iStock/beavera

SoFi Invest®
The information provided is not meant to provide investment or financial advice. Investment decisions should be based on an individual’s specific financial needs, goals and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC Registered Investment Advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).
2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.
3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.
For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal.Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or prequalification for any loan product offered by SoFi Bank, N.A., or SoFi Lending Corp.
Crypto: Bitcoin and other cryptocurrencies aren’t endorsed or guaranteed by any government, are volatile, and involve a high degree of risk. Consumer protection and securities laws don’t regulate cryptocurrencies to the same degree as traditional brokerage and investment products. Research and knowledge are essential prerequisites before engaging with any cryptocurrency. US regulators, including FINRA , the SEC , and the CFPB , have issued public advisories concerning digital asset risk. Cryptocurrency purchases should not be made with funds drawn from financial products including student loans, personal loans, mortgage refinancing, savings, retirement funds or traditional investments. Limitations apply to trading certain crypto assets and may not be available to residents of all states.
SOIN0622003

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store
SoFi Android App, Get it on Google Play

TLS 1.2 Encrypted
Equal Housing Lender