$ 0.060776 USD
$ 0.060776 USD
$ 8.5486 billion USD
$ 8.5486b USD
$ 175.541 million USD
$ 175.541m USD
$ 1.0289 billion USD
$ 1.0289b USD
141.18 billion DOGE
Issue Time
2013-12-12
Platform pertained to
--
Current price
$0.060776USD
Market Cap
$8.5486bUSD
Volume of Transaction
24h
$175.541mUSD
Circulating supply
141.18bDOGE
Volume of Transaction
7d
$1.0289bUSD
Change
24h
+0.44%
Number of Markets
801
More
Warehouse
Dogecoin
Github's IP Address
[Copy]
Codebase Size
7
Last Updated Time
2016-02-27 12:44:41
Language Involved
--
Agreement
---
Current Rate0
0.00USD
Download on the
App Store Download
Download on the
Google Play Download
Download on the
Android Download
3H
+0.32%
1D
+0.44%
1W
-1.46%
1M
-9.27%
1Y
-0.17%
All
+20195.34%
Aspect | Information |
---|---|
Short Name | DOGE |
Full Name | Dogecoin |
Founded Year | 2013 |
Main Founders | Billy Markus and Jackson Palmer |
Support Exchanges | Binance, Huobi, OKEx, Poloniex, Bittrex, etc. |
Storage Wallet | Dogecoin Wallet, Ledger Wallet, Trezor Wallet, etc. |
Dogecoin, often represented by the short name DOGE, is a cryptocurrency that was established in 2013 by founders Billy Markus and Jackson Palmer. Originally created as a joke, Dogecoin has since established a significant following in the crypto community. It can be traded on various exchanges, including Binance, Huobi, OKEx, Poloniex, and Bittrex among others. For storage purposes, DOGE tokens can be kept in a variety of wallets, such as the Dogecoin Wallet, the Ledger Wallet, and the Trezor Wallet.
Pros | Cons |
---|---|
Widespread recognition | Initially created as a joke |
Large and active community support | Vulnerability to market manipulation |
Lower transaction fees compared to Bitcoin | Uncertain future development plans |
Available on multiple exchanges | Limited use case outside of tipping and donations |
Pros of DOGE token:
1. Widespread recognition: Being one of the first cryptocurrencies developed after Bitcoin, DOGE enjoys significant name recognition in the cryptocurrency community. This recognition extends beyond the crypto world, due to its unique branding and origins in internet meme culture.
2. Large and active community support: The Dogecoin community is known for being particularly vocal and enthusiastic, contributing to the coin's popularity. This strong community can help to maintain interest and activity in the coin.
3. Lower transaction fees compared to Bitcoin: As a derivative of Litecoin, which in turn branched from Bitcoin, Dogecoin incorporated some technical adjustments which allow for lower transaction fees in comparison to Bitcoin. This makes it more useful for microtransactions and regular use.
4. Available on multiple exchanges: Dogecoin is listed on a number of leading cryptocurrency exchanges, which ensures liquidity, accessibility, and flexibility for users looking to trade the coin.
Cons of DOGE token:
1. Initially created as a joke: The origins of Dogecoin as a joke or meme coin can impact its perception in the market, with some potentially viewing it as less serious or credible than other cryptocurrencies.
2. Vulnerability to market manipulation: Given its popularity among a wide range of internet users, DOGE has shown vulnerability to coordinated buying or selling efforts, and comments by high-profile individuals can significantly influence its price.
3. Uncertain future development plans: The roadmap for Dogecoin's future development isn't as clearly defined as it is for some other cryptocurrencies. This uncertainty may raise concern for the coin's potential for growth or technological innovation.
4. Limited use case outside of tipping and donations: Dogecoin's primary uses to date have been for tipping content creators on the internet and for charitable donations. Its utility outside of these specific use cases, in terms of broader adoption or technological application, remains limited to date.
Dogecoin, also known as DOGE, provides a unique case study in the world of cryptocurrencies due to its unexpected rise from a facetious origins to a significant player in the market. Its initial creation was based on the popular “Doge” internet meme, which was an element of novelty and humor that many other cryptocurrencies lacked. This meme-based branding contributed to Dogecoin's wider casual recognition among internet users beyond the usually niche group of cryptocurrency enthusiasts.
Another striking difference is the community aspect. Dogecoin's community is known for its participatory and spirited nature, often rallying around community-driven events or fundraising for various causes. This has led to an unusual use case for a cryptocurrency, that of tipping and donating on the internet.
On the technical level, Dogecoin is a derivative of Litecoin, which in turn was a fork from Bitcoin but with a much higher supply limit and faster block timing. This leads to swifter transaction speeds and lower fees than Bitcoin which, in theory, makes it suitable for small, day-to-day transactions. However, it's worth noting that other cryptocurrencies also offer fast speeds and low fees.
Despite these unique factors, it's critical to mention Dogecoin's potential drawbacks. It was initially designed as a “joke” currency and its long-term development and use-case strategies are not as clearly defined as some other cryptocurrencies. Furthermore, its price has shown significant volatility and susceptibility to social media influence, making it an unpredictable investment. Nonetheless, Dogecoin underscores the potential for unexpected outcomes and community-driven success in the versatile world of digital currencies.
Dogecoin operates on a Proof-of-Work (PoW) model, much like Bitcoin and many other cryptocurrencies. The specifics of its operation, including its mining software and equipment, speed, and transaction processing time are as follows:
Mining Software and Equipment: Mining Dogecoin largely involves the same sort of equipment used to mine other Proof-of-Work cryptocurrencies, like Bitcoin. This includes high-performance computers equipped with powerful GPUs or ASICs. However, the mining software used can vary greatly depending on the miner's preference and their specific equipment set up. Some popular options include CGMiner, MultiMiner, EasyMiner, and CudaMiner.
Mining Speed and Reward: Dogecoin, being a derivative of Litecoin, has a significantly faster block generation time than Bitcoin. While Bitcoin's block time is about ten minutes, Dogecoin's block time is just one minute, resulting in faster mining. Furthermore, the block reward system for Dogecoin is static, awarding 10,000 DOGE for each block mined. This contrasts with Bitcoin's halving system, in which the reward for mining a new block gets halved approximately every four years.
Processing Time: The faster block generation of Dogecoin also results in swift transaction processing times. Given that new blocks are added to the Dogecoin blockchain every minute (as opposed to every 10 minutes for Bitcoin), transactions can be confirmed at a quicker rate. This, in combination with lower transaction fees, theoretically makes Dogecoin a more practical choice for small, regular transactions.
However, it's crucial to recognize the environmental footprint, high energy consumption, and potential issues of centralization associated with Proof-of-Work mining, whether that's for Bitcoin or Dogecoin. Furthermore, while Dogecoin's block time and transaction speed are faster than Bitcoin's, this advantage is not unique to Dogecoin as other cryptocurrencies, like Litecoin, also offer swift transaction processing times.
Dogecoin's price has been very volatile since its inception in 2013. It has experienced periods of rapid price increases followed by equally sharp declines. For example, in January 2021, DOGE's price surged from around $0.005 to over $0.08 in just a few days, before falling back to around $0.05 by the end of the month.
There are a number of factors that can contribute to DOGE's price volatility. One factor is its relatively high supply. There are currently over 132 billion DOGE in circulation, and new DOGE coins are minted every day. This large supply can make DOGE more susceptible to price swings.
Another factor that can contribute to DOGE's price volatility is its popularity among retail investors. DOGE is often seen as a “meme coin” that is not taken seriously by many institutional investors. This can make DOGE more susceptible to pump-and-dump schemes and other market manipulation.
Several established cryptocurrency exchanges support the buying and trading of DOGE. Here are some examples:
1. Binance: As one of the world's largest and most respected cryptocurrency exchanges, Binance offers comprehensive trading options for Dogecoin, including both spot and futures markets.
2. Huobi: Widely recognized for its global presence, Huobi offers DOGE trading pairs with major currencies like Bitcoin and USDT.
3. OKEx: A leading digital asset exchange, OKEx provides a platform for trading DOGE in pairs with multiple popular cryptocurrencies.
4. Poloniex: Boasting a robust security infrastructure, Poloniex supports the trading of DOGE and provides users with comprehensive charts and data to inform their trading decisions.
5. Bittrex: Bittrex provides real-time trade execution and dependable digital wallets, allowing users to buy, sell and store DOGE with ease.
It's important to note these platforms may require investors to complete a registration and identity verification process due to regulatory requirements. Investors should also be aware that trading cryptocurrencies involves risks, including loss of capital, and they should therefore tread cautiously.
Storing DOGE tokens involves using a secure digital wallet. Here are some wallet options:
1. Dogecoin Wallet: This is the original wallet from the Dogecoin developers. It's an open-source software that is compatible with multiple operating systems and provides full control over the private keys.
2. Ledger Wallet: A hardware wallet, Ledger is considered one of the most secure options to store cryptocurrencies. The Ledger Nano S and Ledger Nano X models both support storing DOGE.
3. Trezor Wallet: Another kind of hardware wallet, Trezor also provides secure offline storage for Dogecoin. Its models, the Trezor One and Trezor Model T, can be used to store DOGE.
4. MultiDoge Wallet: MultiDoge is a lightweight client that is quicker to sync with the Dogecoin blockchain than the official Dogecoin Wallet. It is easy to use and can be installed on multiple operating systems.
5. Exodus Wallet: It is a multi-currency wallet that supports DOGE along with numerous other cryptocurrencies. Exodus offers a user-friendly interface and exists both on desktop and mobile.
6. Coinomi Wallet: Known for its security and privacy features, Coinomi supports DOGE along with many other cryptocurrencies in its mobile wallet solution.
It's important to note that hardware wallets are thought to be the safest, as they store cryptocurrencies offline and are less vulnerable to hacking. However, software wallets or online wallets can still be used for convenience but may present a greater risk. Remember to take appropriate measures, like setting strong passphrases and making regular backups, to secure the wallet.
Investing in Dogecoin, like any cryptocurrency, comes with certain risks and rewards, and may be more appealing to certain types of investors. Here's a breakdown:
Suitable Investors:
1. Long-term believers in blockchain: If you believe that blockchain technology is the future and that cryptocurrencies will continue to play an integral role in this space, you might consider investing in Dogecoin as part of a diversified crypto portfolio.
2. Experienced traders: Day traders and swing traders might find opportunities in the large price fluctuations and volatility of Dogecoin, which can produce substantial gains (or losses) in short periods of time. Serious due diligence and risk management are always necessary.
3. Community-driven investors: Dogecoin has a uniquely spirited and committed community. Individuals who appreciate this aspect, value the democratizing elements of Dogecoin, or enjoy participating in the community might be attracted to investing in DOGE.
Advice for Potential DOGE Buyers:
1. Research: Prior to investing in DOGE (or any cryptocurrency), do thorough research. Understand what Dogecoin is, its origins, and its underlying technology. Bear in mind its primary uses and potential benefits, as well as its risks and limitations.
2. Financial Advice: It's essential to seek professional financial advice before making any investment. Diversification is crucial in any investment strategy to reduce risk, and investments should ideally be part of a comprehensive financial plan.
3. Risk Management: Only invest what you are prepared to lose. Cryptocurrencies are high-risk assets and prices can be extremely volatile. Decide in advance your risk tolerance and set a strategy for entry, exit, and profit-taking.
4. Secure Storage: If you decide to buy, think through your storage options. Hardware wallets are generally safer for storage of your investment. If you prefer a software wallet due to convenience, ensure you have strong security measures in place.
5. Regulatory Environment: Be mindful of the legal and tax implications of investing in crypto in your country or region. Regulations can change and have an impact on your investment.
As with all investments, its important to take calculated risks, remain informed, and stay updated with market trends and other crucial factors affecting your investment choices.
Dogecoin, also known as DOGE, is a cryptocurrency that was launched in 2013. It has a vibrant community and is well-known in both the crypto world and the wider internet, thanks in part to its distinctive branding based on a popular meme. Some of the technical aspects of Dogecoin, such as the lower transaction fees and faster block generation compared to Bitcoin, position it as a potentially useful tool for online tipping or micropayments.
As an investment, DOGE has demonstrated significant volatility. While this volatility can potentially create opportunities for appreciable financial gain, it also poses a high level of risk. Investors need to be ready for large price swings and be prepared to potentially lose their investment. Given the nature of the cryptocurrency market and the frequent episodes of hype that can drive up prices, Dogecoin's future development and price trajectory remain highly uncertain.
In terms of its technical development prospects, Dogecoin's future is similarly uncertain. While it has a consistently active community, the plan for its ongoing evolution and expansion, in relation to other more established cryptocurrencies like Bitcoin or Ethereum, is not as clear.
In summary, Dogecoin represents an interesting example of the unpredictable nature of the cryptocurrency market. Its potential for appreciation, like many cryptocurrencies, is uncertain, and potential investors need to proceed with caution, thorough research, and ideally, personalized advice from a financial advisor.
Q: What is DOGE's primary functional purpose?
A: DOGE, or Dogecoin, is primarily used as a digital tipping system for rewarding content creators or for making charitable donations online.
Q: Who were the individuals behind the creation of Dogecoin?
A: Dogecoin was co-founded by software engineers Billy Markus and Jackson Palmer in 2013.
Q: Can Dogecoin be mined like Bitcoin?
A: Yes, Dogecoin operates on a Proof-of-Work model similar to Bitcoin, allowing it to be mined, albeit with faster block generation time and lower transaction fees.
Q: Are there risks involved in investing in DOGE?
A: Yes, similar to other cryptocurrencies, investing in DOGE involves substantial risk due to its high volatility and susceptibility to market manipulation.
Q: Is Dogecoin accepted on all major cryptocurrency exchanges?
A: A number of prominent exchanges, including Binance, Huobi, OKEx, Poloniex, and Bittrex, support the buying and selling of DOGE.
Q: What are some secured wallets for storing DOGE?
A: Various wallet options like the Dogecoin Wallet, Ledger Wallet, Trezor Wallet, MultiDoge Wallet, Exodus Wallet, and Coinomi Wallet, among others, support the storage of DOGE.
Q: What differentiates DOGE from other cryptocurrencies?
A: Unique properties of DOGE include its meme-based branding, strong community support, and its utilization as an online tipping and donation system.
Q: What kind of investors are suitable for investing in Dogecoin?
A: Investors with an appetite for high risk, long-term believers in blockchain technology, and community-inclined individuals may consider investing in Dogecoin while managing its associated risks.
Q: What's the future potential of DOGE?
A: The future potential of DOGE is difficult to predict, mainly due to its inherent market volatility and the uncertainty surrounding its long-term development plans.
Q: How can one mitigate the risks of investing in Dogecoin?
A: Risks associated with investing in Dogecoin can be mitigated by carrying out thorough research, seeking professional financial advice, managing investment risks, securely storing tokens, and staying updated with evolving crypto regulations.
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