|Market Cap||$ 12.8B|
|Volume 24h||$ 1.1B|
As of now, the current price of Dogecoin (DOGE) is $ 0.08996900, a +5.16% change in the last 24 hours.
Dogecoin, fondly represented with a Shiba Inu dog from the popular "Doge" internet meme as its logo, is renowned as a cryptocurrency established for the fun-loving digital currency audience. Initially introduced as a "joke currency" on December 6, 2013, it rapidly built its dedicated online community and accomplished a market capitalization of around US$60 million in January 2014. This fascinated crypto community achieved networking and fundraiser activities, which contributed to Dogecoin securing its place as more than just a digital currency gag.
Dogecoin was the ingenious brainchild of Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia. Both wanted to create a lighthearted and fun cryptocurrency that would appeal to audiences beyond the reach of Bitcoin. They succeeded – Dogecoin has established itself as an online community's beloved currency, primarily used as a tipping system on Reddit and Twitter to appreciate the sharing and creating of quality content.
Dogecoin operates on a decentralized peer-to-peer network, just like the famous Bitcoin. Miners in the Dogecoin network process transactions in a type of 'lottery' system, with rewards given to miners when they confirm new blocks of transactions on the chain. However, it's worth highlighting that the developers of Dogecoin have not made any significant updates to the coin since 2015, which risks leaving it behind more advanced platforms.
Dogecoin's uniqueness lies in its community. Its relaxed and fun-loving users, paired with the symbol of a famed internet meme, give it a unique stance within the cryptocurrency landscape. Dogecoin was one of the notable cryptocurrencies that realized the value of aligning themselves with internet and cultural trends.
Dogecoin commenced with a rapid initial coin production schedule. Around 100 billion coins were in circulation by mid-2015, effectively mining the 100 billionth Dogecoin by June 30, 2015. Furthermore, an additional 5.256 billion coins were added each year. The current circulating supply of Dogecoin is 142.1B out of a known total supply of 142.1B.
Yes! While Dogecoin was started as a joke, it has gained widespread acceptance as a viable form of digital currency. Businesses, independent artists, and charity organizations have all accepted Dogecoin as a form of payment or donation. This use case for Dogecoin has shown that even a coin started as a gag can have real-world use.
Dogecoin can be purchased on a variety of cryptocurrency exchanges using other digital currencies or fiat currencies, depending on the platform. Some of the exchanges where Dogecoin can be purchased include Coinbase Pro, Bitforex.
Like any digital asset, the safety of your Dogecoin depends on the precautions you take. Users are advised to store their DOGE in secure wallets and not on exchanges. Other practices include using two-factor authentication and keeping your private keys offline and secure from potential threats.