The coin was created in December 2013 and it currently occupies the 35th position in the list of cryptocurrencies based on market cap. Its price has recently been surging and it hit a new all-time high on December 21 after reaching $0.008768. Its price had however gone down to $0.007509 at the time of this press.
It is currently not clear why there was such a noteworthy surge in the price of the currency especially over the past one week but that is most likely due to the overall effect of the cryptocurrency market which has seen most of the digital currencies gaining momentum.
Despite its recent gains, Dogecoin cannot currently be categorized as one of the best performers of 2017. It currently has a market cap of $844 million and its price movement so far remains miles away from $1. Dogecoin was created by Jackson Palmer to make fun of hyped up cryptocurrency market in 2013. He created it as an inflationary digital currency, unlike bitcoin which is deflationary. Palmer also believes that the cryptocurrency market will crash soon.