What is Dogecoin?
Dogecoin is a cryptocurrency created on December 6th, 2013 based on the popular “Doge” Internet meme and features a Shiba Inu on its logo. The codebase of the project was a fork of Litecoin, so it inherited many of the same features such as the hashing algorithm, with the only difference being branding and large inflationary supply.
One of Dogecoin’s strengths is its relaxed and fun-loving community. But like most meme coins, this is also a weakness because other currencies are seen as more professional.
History of Dogecoin
Dogecoin was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia. They wanted to create a fun cryptocurrency that would appeal beyond the core Bitcoin audience.
Introduced as a “joke currency”, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014. Compared with other cryptocurrencies, Dogecoin had a fast initial coin production schedule: 100 billion coins were in circulation by mid-2015, with an additional 5.256 billion coins every year thereafter. As of 30 June 2015, the 100 billionth Dogecoin had been mined.
What is the utility of the DOGE token?
DOGE is primarily used as a tipping system on Reddit and Twitter, where users tip each other for creating or sharing good content. The community is very active in organizing fundraising activities for deserving causes.
Related Article: You may read this guide to start mining Dogecoin.
Where can you buy Dogecoin?
DOGE tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Dogecoin is BingX, where the most active trading pair DOGE/USDT has a trading volume of $4,739,711.57 in the last 24 hours. Other popular options include Binance and DigiFinex.
What is the daily trading volume of Dogecoin (DOGE)?
The trading volume of Dogecoin (DOGE) is $1,015,661,073.24 in the last 24 hours, representing a -7.30% decrease from one day ago and signalling a recent fall in market activity.
What is the all-time high for Dogecoin (DOGE)?
The highest price paid for Dogecoin (DOGE) is BTC0.00001264, which was recorded on May 08, 2021 (about 3 years). Comparatively, the current price is -80.30% lower than the all-time high price.
What is the all-time low for Dogecoin (DOGE)?
The lowest price paid for Dogecoin (DOGE) is BTC0.061509, which was recorded on May 06, 2015 (about 9 years). Comparatively, the current price is 165,647.30% higher than the all-time low price.
What is the market cap of Dogecoin (DOGE)?
Market capitalization of Dogecoin (DOGE) is BTC342,133.7606 and is ranked #10 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of DOGE tokens (140 Billion tokens are tradable on the market today).
What is the fully diluted valuation of Dogecoin (DOGE)?
The fully diluted valuation (FDV) of Dogecoin (DOGE) is BTC342,139.3822. This is a statistical representation of the maximum market cap, assuming total number of 140 Billion ETH tokens are in circulation today.
How does the price performance of Dogecoin compare against its peers?
With a price decline of -3.60% in the last 7 days, Dogecoin (DOGE) is outperforming the global cryptocurrency market which is down -4.30%, while underperforming when compared to similar Proof of Work (PoW) cryptocurrencies which are up 0.00%.
