Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-120x86.jpg)
Have your ever heard about a joke that outstayed its welcome? Of course, you have. We all have.
However, have you ever heard about a joke that evolved to become something else entirely. Well, Dogecoin [DOGE] is one such ‘joke,’ with dog holders laughing all the way to the bank over the last few years.
When cryptocurrencies were first introduced on the Internet, it had a rather grandiose plan to transform the financial world. It envisioned a decentralized financial system, one that would be autonomous, remaining completely free from governmental regulations. Crypto-pioneers dreamt of an alternate world order that would offer to us an independent financial system with no external intervention.
Needless to say, such a grand plan elicited suspicion, and even smirks. Software engineers Billy Markus and Jackson Palmer thought that cryptocurrency was being taken far too seriously and in December 2013, they created Dogecoin to poke fun at ultra-serious crypto-maximalists.
Featuring the image of an adorable Shiba Inu dog, Dogecoin went viral on social media platforms such as Reddit, gaining extreme popularity instantly. However, as it gained further traction and its value increased, people began to take this joke cryptocurrency seriously.
Within a few days of its launch, it rose from $0.00026 to $0.00095 in value, recording a significant hike of around 300%. In doing so, it quickly established itself as one of the market’s top-10 cryptocurrencies. Between January and May 2021, DOGE surged by more than 8,600%.
One of the reasons behind such a surge was it being mentioned on social media by tech and entertainment giants such as Elon Musk, Snoop Dogg, and Mark Cuban. On 8 May 2021, it hit an ATH of $0.7376. At the time of writing, Dogecoin was trading at $0.0741 on the charts.
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-350x250.jpg)
