The live price of Dogecoin is - per (DOGE / USD) with a current market cap of $33.02B USD. 24-hour trading volume is - USD. DOGE to USD price is updated in real-time. Dogecoin is -% in the last 24 hours with a circulating supply of 149.31B.
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Dogecoin (DOGE) is named after the internet meme "DOGE" and features a Shiba Inu on its logo. Dogecoin was developed in 2013 by Jackson Palmer and Billy Markus when altcoins were becoming increasingly popular among the crypto speculator community, so they decided to mock altcoins.
Dogecoin is a peer-to-peer digital currency based on the Shiba Inu dog terrier that went viral on the internet. Initially, the digital currency project was created just to mimic other digital currency projects that were being launched at the time, but it quickly gained a loyal fan base who found and developed new use cases for it. It is considered the first meme coin, and the first "Dogecoin" (dog-themed digital currency).
Dogecoin was originally a "meme coin" to mock the excitement of new altcoins entering the market. Initially, Dogecoin had little value and was used as a tip to thank users on social media and online forums such as Reddit.
The Dogecoin community became famous, with members calling themselves "Shibes." Today, Dogecoin can still be used to tip online creators. Although not often used, it can also be used for e-commerce, as users can use Dogecoin to purchase goods and services at certain merchants.
Dogecoin has a maximum supply of 100 billion DOGE, but the cap has been removed, so its supply is essentially unlimited.
Dogecoin uses the same Proof of Work (PoW) blockchain from the Litecoin network and uses the Scrypt mining algorithm to verify transactions.
New DOGE tokens are created in the same way as Bitcoin and many other digital currencies, through a computationally intensive process known as mining, where computing power competes to solve complex mathematical problems to verify transactions and secure the blockchain network. When users solve these problems correctly and contribute to the security of the blockchain network, they will be rewarded with new DOGE tokens.
Dogecoin's blockchain network allows users to send DOGE to other users anywhere in the world without the need for a third party. Transactions made through the network are permanently recorded and cannot be deleted or reversed. Dogecoin's network can process 40 transactions per second, which is faster than Bitcoin. Transaction fees are also much lower than Bitcoin.
Over the years, Dogecoin has gained support from many crypto enthusiasts and celebrities. The project's management team, the Dogecoin Foundation, has been working tirelessly to develop new features and maintain the project to increase its practicality. Dogecoin has also influenced many other popular digital currencies, which are now collectively referred to as "emoji coins."
Dogecoin has many differences from Bitcoin, which uses the proof-of-work protocol. For example, Dogecoin uses the Srypt algorithm. This altcoin also has a 1-minute block time, but the total supply is uncapped, meaning there is no limit to the number of Dogecoins that can be mined.
Users can mine independently or join a mining pool. Users can mine with GPUs on Windows, Mac, and Linux systems. Since 2014, users can also mine Litecoin using the same method, as the mining process for both coins has been merged.
DOGE holders primarily use Dogecoin as a digital asset payment system (medium of exchange) for transferring value electronically between each other. Due to its low fees and ease of use, it was once one of the most widely used digital assets for rewarding in the cryptocurrency market.
Many people also purchase and hold DOGE as a highly speculative investment. Much of this speculation is due to the historical impact that Elon Musk's tweets related to Dogecoin have on its price. As a result, the dog-themed cryptocurrency is particularly volatile. DOGE prices can move drastically and quickly in both directions (up or down) due to a social media post.
Dogecoin started out with a limited supply of 100 billion. This was later changed to an unlimited supply. As a result, Dogecoin is inflationary, meaning that its supply (currently 132 billion as of September 2022) will only grow over time.
New DOGE tokens are created in a computationally intensive process called mining. DOGE's circulating supply is equal to its total supply, indicating that all tokens are in the hands of users and the development team has not retained any. 5 billion new DOGE tokens are created every year, giving the digital currency an inflation rate of about 4%, which is not high compared to other inflationary currencies.
Dogecoin was created by IBM software engineer Billy Markus and Adobe senior director of product management Jackson Palmer.
The Shiba Inu meme has been around for a while, with popular memes drawing attention to the symbol. Palmer said the meme helped with the accessibility of digital currencies in an era when Bitcoin was seen as suspicious and connected to the dark web. Dogecoin sparked public interest in learning more about digital currencies.
In 2015, Palmer left the digital currency world, denouncing the way people were making money from digital currencies. Palmer's departure came after Ryan Kennedy (aka Alex Green) convinced the community to donate to the creation of a Dogecoin exchange called Moolah. Kennedy later used the donations to buy $1.5 million worth of Bitcoin to splurge. As a result, Kennedy was convicted of fraud in 2016.
The nonprofit Dogecoin Foundation, which maintains the network, has worked with many well-known people and companies over the years. In 2021, they began working with Vitalik Buterin, one of the founders of Ethereum, the world's second-largest digital currency by market value, to study a share mechanism.
The team also worked with billionaire celebrity Elon Musk. As an avid Dogecoin fan, Elon Musk took the lead in accepting and using Dogecoin in his multi-billion dollar companies Tesla and SpaceX, and promised to work with the team in the future to improve the efficiency of Dogecoin use.
Libdogecoin is a software library that provides developers with a series of tools and resources for developing decentralized applications (dApps). It is a collaborative open source initiative that aims to simplify the process of building new decentralized applications on the Dogecoin blockchain network.
Libdogecoin includes functionality for sending and receiving Dogecoin, as well as advanced features such as multi-signature transactions, HD wallets, and payment channels. With Libdogecoin, developers can take advantage of Dogecoin's unique features and create innovative applications that leverage the power of decentralized technology.
Famous entrepreneur and billionaire Elon Musk often publicly displays his strong interest and support for Dogecoin. As we all know, Elon Musk is an avid fan of memes and has supported the project many times, often sparking a lot of interest and optimism from users, as well as wild speculation. He usually expresses his positive views on Twitter and hopes to get meme coins. He has a considerable number of followers on Twitter.
The man known as the "Father of Dogecoin" began expressing his support for Dogecoin on Twitter in late 2020 and has been tweeting about Dogecoin since then. Due to Musk’s status and popularity, whenever he mentions Dogecoin, its price usually surges significantly (in one case by as much as 100%).
Musk has not only expressed his approval of the project, but has even taken some steps to promote it. He announced that Tesla, the world’s largest automaker, which he also runs, accepts Dogecoin. Another of his companies, SpaceX, announced that they would fund a rideshare mission to the moon entirely with Dogecoin, making the mission the first of its kind.
He has also crowdsourced ideas for the development of Dogecoin and even pledged to work with the Dogecoin development team to make improvements to the blockchain. His actions have also arguably inspired other notable celebrities and influencers, such as Mark Cuban and Snoop Dogg, to support Dogecoin.
However, Musk’s actions have not been popular with everyone. He has often been accused of manipulating Dogecoin through Twitter, including by Dogecoin co-founder Jackson Palmer, even though the founder abandoned the project in 2015.
Both Dogecoin and Bitcoin are decentralized cryptocurrencies, but they differ in several key ways. First, Dogecoin has a much larger supply than Bitcoin. Compared to Bitcoin's fixed supply of 21 million, Dogecoin's maximum supply is unlimited.
Dogecoin has a much faster block time than Bitcoin, which means that transactions on Dogecoin are executed much faster than Bitcoin. Miners generate new Dogecoin blocks every minute, while Bitcoin's average block time is 10 minutes. Finally, Dogecoin is seen as a ""fun"" and lighthearted cryptocurrency, while Bitcoin is often seen as a serious investment tool.
Dogecoin was created to mock Bitcoin. Its name and logo are derived from the Shiba Inu emoji. Created using the Scrypt programming language, Dogecoin (DOGE) is an ideal way to make small transactions. Dogecoin has grown dramatically after celebrity endorsements such as Tesla boss Elon Musk and billionaire investor Mark Cuban.
Dogecoin (DOGE) was created in 2013 and its technology is based on Luckycoin and Litecoin.
Merged mining was introduced in 2014, allowing miners to choose whether they want to mine Dogecoin or Litecoin.
Dogecoin uses an inflationary model, which means that the supply of DOGE will increase over time. Because, there is no maximum hard cap on the supply of DOGE. Miners receive 10,000 DOGE tokens every minute, and 5 billion tokens are added to circulation every year. As of September 2022, there are over 132 billion DOGE tokens in circulation.
If you compare Dogecoin to cryptocurrencies like Bitcoin, the value of Dogecoin is only a fraction of Bitcoin's value.
However, if you look at Dogecoin from a historical perspective, the value of this coin has increased over time due to its extremely loyal following.
The cost of Dogecoin is low, making it easier to acquire compared to other more expensive cryptocurrencies. Always do your own research before purchasing any cryptocurrency.
Although DOGE was created without a vision of long-term growth or adoption, its community has been focused on increasing its real-world use cases over time. DOGE can be used to buy movie tickets, Tesla merchandise, and even to tip Twitter users. You can find a detailed list of places to spend DOGE here.
Dogecoin, like its peers that use the Proof of Work (PoW) mining algorithm, has been criticized for its huge energy consumption. The development team subsequently responded by announcing that the project will migrate the consensus model to the more environmentally friendly Proof of Stake (PoS).
DOGE tokens can be traded on centralized exchanges. The most popular exchange for buying and trading Dogecoin is Binance, where the most active trading pair is DOGE/USDT, with a volume of US$375,566,486 in the past 24 hours.
The Dogecoin to other currencies exchange rate?
