Dogecoin Marks 12th Anniversary Amid Market Downturn

Dogecoin celebrates 12 years amid a market downturn.

On December 6, the leading meme cryptocurrency Dogecoin (DOGE) celebrated its 12th anniversary since its launch.

Happy birthday to Dogecoin.

12 years and going. pic.twitter.com/n9Qg6KtfQU

— dogegod (@_dogegod_) December 6, 2025

The coin was created in 2013 by developer Billy Markus and Adobe Systems sales employee Jackson Palmer, who decided to make a joke about the rapidly growing number of digital assets.

Over the years, the token launched “for fun” has become one of the leading cryptocurrencies. On May 8, 2021, DOGE prices reached an all-time high of $0.73, with a market capitalization of $88.7 billion (CoinGecko).

This anniversary, the pioneer of the meme token segment experienced a 3.1% drop over the day, while Bitcoin and the market overall lost about 1.8%.

DOGE is trading near $0.14, maintaining its position in the top 10 by market value with approximately $22.5 billion.

The description of the project’s X account states: “Elon Musk thinks we’re cool.” The head of Tesla and SpaceX has indeed supported DOGE for many years.

In January, the coin’s price jumped 11% after its logo appeared on the website of the newly formed Department of Government Efficiency (DOGE) under the U.S. government. The agency, created by President Donald Trump, was headed by Musk.

The news resource dogegod reported that the updated internal code of Tesla’s website contains “deeper Dogecoin payment mechanisms” for electric cars like the Model 3 and Cybertruck. The channel’s authors suggested this indicates an imminent launch of an option possibly related to the announced XMoney payment system on the X platform.

Experts considered the late November debut of the first U.S. spot DOGE-ETF by Grayscale “unexpectedly modest.” On its first trading day, the product saw an inflow of $1.8 million.