In a surprising turn of events, doggy-themed meme coin Dogecoin (DOGE) marked its 10th birthday today with a double-digit rally that pushed its price past the coveted $0.10 milestone — a level last seen a year ago.
DOGE is presently changing hands for $0.103061, up 15.4% for the past 24 hours, as altcoins benefit from Bitcoin’s recent rapid rally. Originally conceived as a joke by software engineers Billy Markus and Jackson Palmer in 2013, Dogecoin has become a serious proposition after establishing a legitimate reputation.
SpaceX/Tesla CEO Elon Musk is among Dogecoin fans and has called it his favorite crypto. He even stood in as its pretend CEO a few years ago. Moreover, DOGE hit an all-time high of $0.73 in May 2021 in the run-up to Musk’s appearance on Saturday Night Live.
Dogecoin has been on traders’ radar recently following positive fundamental developments in the asset’s ecosystem. Dogecoin developers revealed in November that a physical dogecoin could reach Earth’s moon this month in a space payload mission orchestrated by Pittsburg-based firm Astrobotic.
Further, the Doge-1 satellite funded by Dogecoin, is now expected to launch in January 2024 after receiving approval from the National Telecommunications and Information Administration (NTIA). The satellite will be launched aboard Musk’s SpaceX Falcon 9 rocket.
These developments coincided with Dogecoin’s recent spike in its number of wallets. As reported by ZyCrypto, the total number of addresses holding DOGE recently crossed the 5 million mark owing to the growing adoption of the meme-inspired cryptocurrency in recent weeks.
What’s Next?
Widely-followed crypto commentator Crypto Tony observed that Dogecoin is currently seeing lovely pumps, noting that this is only the beginning. He went on to applaud those who invested in DOGE during its lows.
Despite DOGE’s latest bullish price movement, the token still has a long way to go before reclaiming its $0.73 all-time high.
Since Dogecoin has a history of moving based on what Musk says or does, the DogeArmy will be eagerly waiting to see whether Dogefather Musk posts a birthday message that sends the price of the token to the moon.
