We all know Dogecoin as an open-source, peer-to-peer solution for seamless money transfers that first emerged as a pure joke, born out of an Internet meme. Although over the course of time, the travesty currency has transformed into a popular digital asset that is being actively traded on multiple cryptocurrency exchanges. So much so that even Elon Musk called Dogecoin his favorite coin on Twitter, though he was probably trolling the crypto community.
Nevertheless, DOGE is undeniably one of the top altcoins, which is being ranked 31th on Coinmarketcap - the coin has been holding this height for at least two years straight.
A brief summary of 2019
Last year wasn’t particularly impressive for DOGE since it failed to produce double-digit profits as of the year-end. The gains against USD amounted to a mere 2.61%, while the performance against Bitcoin was underwhelming with -53.8% gap. Ethereum had also outdone Dogecoin by 10%. Although DOGE did take part in last year’s bull market and even managed to hit the yearly ceiling of $0.0037 twice - first on April 4 and then on July 6 - the gains at both of these peaks constituted only 102%, while the other two mentioned currencies have outperformed DOGE substantially.