But in 2017, DOGE began to gain real value for the first time, getting swept up in a market-wide bull run.
The outlook for Dogecoin is remarkably bright, with a record-breaking performance already seen at the beginning of 2021.
Digital Coin Price’s calculations show that Dogecoin will likely fluctuate between a yearly low of $0.82 (59p) and a yearly high of $1.75 (£1.24) in 2021.
But what about nine years from now?
However, unlike its counterpart Bitcoin, there’s an infinite supply of Dogecoin.
Since its launch eight years ago, Dogecoin has remained reasonably separate from the rest of the cryptocurrency world.
Many serious investors did not take the currency seriously, but with recent growth it has now become the 6th largest currency of its kind in the world.
DOGE now has vocal supporters, including Elon Musk and Snoop Dogg, who have both promoted the currency.
Dogecoin is a low-risk investment, but with lots of potential rewards.
The cryptocurrency has proven to be a very good investment so far, with the price expected to increase further in the long run.
According to experts, the value of Dogecoin looks set to rise, so Dogecoin could prove to be a wise investment over time.