Dogecoin was co-founded by IBM software engineer Billy Markus of Portland, Oregon, and Adobe software engineer Jackson Palmer, who set out to create a digital currency that could reach a wider demographic than Bitcoin. Also, getting away from the controversial past of other cryptocurrencies has been their primary goal. Dogecoin was officially launched on December 6, 2013, and in the first 30 days, Dogecoin.com had over one million visitors.
In January 2014, Dogecoin’s trading volume briefly outstripped Bitcoin and all other cryptocurrencies combined, but its market cap was vastly behind Bitcoin. Initially, Dogecoin included a random reward for mining each block, but in March 2014 this behavior was later changed to a static block reward.
In July 2020, Doge rose after a TikTok trend aimed at pushing the price to $1.