Dogecoin Trading Guide: How to Trade DOGE Price

What do a Shiba Inu dog, an internet meme, and cryptocurrencies have in common? The answer: Dogecoin!

Dogecoin (DOGE) is arguably one of the most recognised cryptocurrencies out there; being the first "meme coin," DOGE has made a notable buzz on social media over the years.

Whether it's through celebrities like Snoop Dogg, Elon Musk, and Kevin Jonas endorsing it or for making the news for being too controversial, this cryptocurrency is one worth familiarising yourself with.

In this article, we'll explore Dogecoin, its origins, and how you can trade DOGE with Plus500's Contracts for Difference (CFDs).

Let's dive in:

TL;DR

• Billy Markus and Jackson Palmer launched Dogecoin as a joke (initially) as a fun, meme-inspired cryptocurrency based on the "Doge" meme.
• Dogecoin became known for its charitable acts, such as supporting the Jamaican bobsleigh team and funding clean water projects.
• Dogecoin has seen extreme volatility, ranging from under $0.01 in 2015 to a high of $0.74 in May 2021 and then fluctuating between $0.14 and $0.07 in 2022. It saw a strong comeback in 2024, reaching $0.42.
• Plus500 offers the opportunity to trade DOGE CFDs, allowing you to speculate on the cryptocurrency's price movements without directly owning it.

Dogecoin History: How Did This Odd Concept Arise?

As the name suggests, Dogecoin is a cryptocurrency inspired by the "Doge" meme, which features an image of Kabosu, a Shiba Inu dog (who was popular over the internet), with humorous captions.

It was created in December 2013 by Billy Markus, a software engineer at IBM, and Jackson Palmer, a marketer at Adobe.

Initially, it was a lighthearted response to the growing hype surrounding cryptocurrencies, offering a playful alternative to Bitcoin. Palmer secured the domain Dogecoin.com and gave it quirky branding, while Markus developed the cryptocurrency's protocol, drawing on Luckycoin and Litecoin.

One of Dogecoin's standout features was its accessible mining system, which didn't require expensive, specialised equipment. Launched on 6 December 2013, Dogecoin quickly gained popularity, particularly for tipping content creators online.

It also built a reputation for its charitable efforts, such as supporting the Jamaican bobsleigh team at the Sochi Olympics and funding clean water projects in Kenya.

In other words, what began as a joke eventually grew into a widely recognised cryptocurrency, attracting attention from figures like Elon Musk and maintaining popularity due to its fast transactions, low fees, and strong, welcoming community.

Dogecoin Price History

While past performance does not reflect future results, familiarising themselves with Doge's historical price patterns may be helpful for both traders and investors interested in gaining exposure to the cryptocurrency.

2013-2015

• Launch Price (2013): Dogecoin was introduced with an initial value of around $0.001540753.
• Lowest Price (2015): In May 2015, it reached its lowest point, dropping to $0.0000869 as reduced support for the meme coin took a toll on its price.

2017-2021

• January 2018: During the crypto market surge that year, DOGE soared, reaching $0.015 as other cryptocurrencies rose.
• May 2021: Dogecoin reached a high of $0.74, largely thanks to Musk's endorsements, social media hype, and the excitement surrounding the GameStop trading frenzy.

2022-2024

• 2022: Throughout that year, DOGE's price was between $0.14 and $0.07, dipping from its peak while maintaining a clear market presence.
• 2024: Dogecoin made a strong comeback in 2024, hitting a peak of $0.42 in November as interest in meme coins reignited, especially in light of US President Donald Trump's re-election and pro-crypto policies.

In 2025, as Trump's presidency, coupled with trade tariffs, geopolitical tensions, and mixed market reactions take place, it will be interesting to see how DOGE will fare.

All in all, DOGE price history highlights its volatility and susceptibility to external influences such as endorsements, market trends, and social media discourse. However, despite its fluctuations, it remains one of the most popular cryptocurrencies globally.

Trading DOGE CFDs with Plus500

For traders seeking access to both rising and falling DOGE prices without having to actually own the cryptocurrency, worry about storing it in a crypto wallet, and safeguarding it from hacking attempts, trading Dogecoin CFDs with Plus500 may be a suitable option.

Crypto CFDs allow you to trade both rising and falling DOGE prices without having to own the underlying crypto. They also provide you with access to leverage, which means that both your gains and losses can get significantly amplified.

To learn more about CFD trading, read our article "What Is CFD Trading?". For information specifically about crypto CFDs, please refer to our article "How to Trade Crypto with Plus500."

Conclusion

Dogecoin has come a long way since its origins as a playful meme coin in 2013, driven by its fun branding and enthusiastic community.

With its endorsements from influential figures like Elon Musk and Snoop Dogg, as well as its charitable efforts, DOGE has cemented itself as one of the most recognised cryptocurrencies in the world.

While its price history has seen both significant rises and steep declines, its presence in the market remains strong, thanks to its low fees, fast transaction speeds, and loyal supporters. Whether you're a casual trader or an investor, understanding Dogecoin's history and trading potential, like through CFDs on platforms like Plus500, could offer new potential opportunities in the ever-evolving crypto landscape.

Ready to trade DOGE with Plus500? Open an account today!