Dogecoin Admits Its A Joke Alright, But You Can Take The 16100% Gains Seriously

Meme-based cryptocurrency Dogecoin (CRYPTO: DOGE) described itself as the longest-running and most successful “joke” in financial history on Thursday.

‘Highest-Grossing Joke’

Dogecoin embraced its meme origins in an X post, adding, “If Dogecoin is a joke, it’s the longest-running, highest-grossing joke in financial history.”

Tracing Dogecoin’s Journey

Born in 2013 from the iconic Shiba Inu meme as a lighthearted experiment, Dogecoin has surged a whopping 16104.52% since then.

It boasts a market capitalization of over $13 billion as of this writing, higher than that of Domino’s Pizza Inc. (NASDAQ:DPZ). At its peak, it was valued at over $82 billion.

This memecoin has caught institutional attention through spot exchange-traded funds trading on Wall Street, including Grayscale Dogecoin Trust ETF (NYSE:GDOG) and 21Shares Dogecoin ETF (NASDAQ:TDOG).

DOGE’s Utility

Dogecoin transaction fees averaged between $0.11 and $0.025 over the past year, according to BitInfoCharts, potentially making it suitable for micro payments. It has been used to tip content creators on Reddit Inc. (NYSE:RDDT) and X through third-party applications.

RadioDoge is another expected use case which aims to enable DOGE transactions over radio waves, bypassing the need for traditional internet access. It is currently under development.

Lately, bearish cryptocurrency market conditions have eroded its value, resulting in a 45% decline over the last year and an additional 22% loss in 2026 to date.

Price Action: At the time of writing, DOGE was exchanging hands at $0.09044, up 0.11% in the last 24 hours, according to data from Benzinga Pro.

The Grayscale Dogecoin ETF closed 2.78% lower at $10.60 on Thursday. According to Benzinga’s Edge Stock Rankings, the stock exhibits weak price momentum in short-, medium-, and long-term trends.