The anniversary of Dogecoin (DOGE) has been strongly anticipated by the meme cryptocurrency community. The altcoin has proven to be resilient and with a functional network over the past nine years.
Being created in just two hours, Dogecoin was developed just to be a fun, joke cryptocurrency. However, it has managed to become one of the most important cryptocurrencies in the blockchain industry.
Let's take a look at DOGE's journey so far and see the major achievements of the crypto with a Shiba Inu logo that has made its holders so happy.
Nine Dogecoin achievements
Of course, one of the best days for Dogecoin holders could not be left out. It took seven years of struggle to see DOGE reach trading at the $0.74 mark on May 8, 2021. In addition, at that time, DOGE reached a market capitalization of $93 billion for the first time.
At the time, the excitement surrounding the altcoin was so great that it managed in just one day, May 5, to experience a 41% rise. Moreover, its year-to-date performance was up 14,000%.
DOGE's impressive growth in 2021 would not be possible without a strong community. This is a source of pride for the cryptocurrency. After all, Dogecoin has one of the largest communities in the cryptocurrency market.
Fans of the altcoin really believe in the future of DOGE and constantly allude to the crypto going to the moon, referring to the famous phrase “To the Moon.” With an increasingly strong community, even in a bear market, DOGE is growing as one of the most popular cryptos.
Celebrity crypto darling
Despite Bitcoin (BTC) being the market leader, Dogecoin has managed to catch the attention of celebrities, with some of them even saying that Doge is better than the primary cryptocurrency because it has a fast network and low fees.
Singer Snoop Dogg, for example, tweeted an edited image showing the album cover of "R&G: The Masterpiece" with the DOGE symbol. Elon Musk is also one of the most prominent personalities as a supporter of the altcoin meme, even highlighting Dogecoin's strength over BTC.
Dogecoin raises $55,000 to sponsor Nascar driver
In 2014, driver Josh Wise needed sponsorship to be able to compete in Nascar racing. The DOGE community, which was already growing at the time, was able to raise $55,000 to help Wish.
Moolah, a cryptocurrency payment platform, offered to convert donations into U.S. dollars with a good conversion rate. The driver covered his entire race car with Dogecoin and alien images from Reddit, the social network used for the collections.
The mining process of the meme coin is one of the most prominent on the blockchain market. This is because it is fast, and DOGE transactions strengthen the crypto as an alternative to everyday payments.
The Dogecoin network can mine about 98,000 crypto units per day. While this amount is high relative to cryptos like Bitcoin, it strengthens DOGE as a fast altcoin with a use for micropayments.
Vitalik Buterin supports Dogecoin
The face behind the market-leading altcoin made a 500 ETH investment in the Dogecoin Foundation in May 2022. Buterin declined to comment on the reason for his donation. However, this was a big move that showed support for the Dogecoin network.
Donations made via Dogecoin
The American Cancer Society, a cancer treatment organization, announced in May 2021 that it was accepting DOGE for the Cancer Crypto program.
The institution created the fund to finance cancer studies. The goal of the campaign was to raise $1 million in donations, and it did, in more than 10 cryptocurrencies, including DOGE.
Dogecoin has managed to be the payment cryptocurrency, after Bitcoin, to stay in the top 10, even with the arrival of other modes on the market like DeFi and NFTs. It is a feat that cryptos like Litecoin (LTC) and Bitcoin Cash (BCH) have not managed.
Without a doubt, this is a major positive highlight for an altcoin that arrived only as a meme on the crypto market.
Of course, Gucci's acceptance of Dogecoin should not be missing from our discussion. In May of this year, the company began accepting cryptos in some stores in the United States.
Alongside major cryptos such as Bitcoin and Ethereum, Dogecoin adds to the demand for cryptocurrency payments made in Gucci stores.