Dogecoin is currently trading at $0.060367 USD and has a 24-hour trading volume of $272,655.333 USD. Whenever there is a change in the value of a single DOGE relative to the US dollar, we update our site accordingly. The value of dogecoin has decreased by.00% over the past 24 hours. With a current market cap of $8 008 996 725 USD, it is currently ranked #10 on CoinMarketCap. The total amount of DOGE in circulation is 132 670 764 300, and this number is capped at the maximum allowed. There is a shortage in the available supply.
DOGE, BTCEX, OKX, DOGE, and Bybit are the best places to buy Dogecoin right now, but you can also find it for sale on other cryptocurrency exchanges like Coinbase and Kraken. Our cryptocurrency exchange page features a list of additional marketplaces.
Dogecoin: What Is It?
The Shiba Inu serves as the mascot for the cryptocurrency Dogecoin (DOGE), which was inspired by the “doge” Internet meme. After Litecoin was forked in December 2013, the open-source digital currency was created by Billy Markus of Portland, Oregon and Jackson Palmer of Sydney, Australia. Since it was based on a dog meme, DOGE’s developers envisioned it as a humorous cryptocurrency that would attract users outside of the Bitcoin community. Elon Musk, the CEO of Tesla, has said on Twitter more than once that his favorite cryptocurrency is Dogecoin.
Methods for Dogecoin Mining
One way in which DOGE proof-of-work protocol differs from Bitcoin’s is that it makes use of Scrypt. Dogecoin is an alternative cryptocurrency with a block time of 1 minute and an uncapped total supply, meaning that there is no maximum amount that can be mined. Dogecoin mining can be done independently or in a group (a “pool”). One can use a graphics processing unit (GPU) running Windows, Mac, or Linux to mine Doge. In 2014, the mining processes for Dogecoin and Litecoin were merged into a single one.
To what ends can DOGE be put?
DOGE is mostly used as a tipping system on social media platforms like Reddit and Twitter to acknowledge and reward the production and dissemination of high-quality content. You can get Dogecoin from a Dogecoin faucet or by being tipped with Dogecoin in a community that uses the digital currency. To get started with the currency and participate in the various DOGE communities, you can visit a website known as a “Dogecoin faucet,” which will give you a small amount of Dogecoin for free.
Where Do I Go to Purchase Dogecoin?
DOGE can be traded for other cryptocurrencies on any exchange that supports them, kept in a Dogecoin wallet, and used as a form of gratuity in any community that recognizes and accepts the digital currency. You can check our market pairs page to see the most up-to-date listing of exchanges that currently accept this cryptocurrency.
DOGE and Elon Musk
Elon Musk’s dedication to DOGE is integral to the cryptocurrency’s success. In early 2021, Musk started tweeting about DOGE by posting a Lion King DOGE meme. That sparked a wild BULLER run, complete with brief dips, that culminated in Musk’s SNL appearance.
Despite Musk’s claims that DOGE’s price would “moon” after his SNL appearance, DOGE’s value actually plummeted. After a few promising months, Musk suddenly seemed uninterested, and the price of DOGE has since dropped by more than 70% from its peak. However, Musk’s occasional tweets show that he still has influence over Dogecoin.
DOGE Foundation and Advisory Committee
DOGE’s developers established a nonprofit foundation in 2014 to serve as an umbrella organization for the cryptocurrency’s advocacy, trademark protection, and governance needs. However, the base eventually crumbled.
The DOGE Foundation went dormant for a while, but it was resurrected in 2021 with a “renewed focus on supporting the Dogecoin ecosystem, community, and promoting the future of the Dogecoin Blockchain.” Its board of advisors is made up of some of the original core team as well as some industry veterans with a lot of experience.
The DOGE Foundation’s website states that the board of directors will get together once a month to discuss the cryptocurrency.
At the moment, advisors include Billy Markus, creator of DOGE; Max Keller, the project’s lead developer; Vitalik Buterin, creator of Ethereum; and Elon Musk, through Jared Birchall, head of the Musk family office.
The Advisor Board’s members will serve in a number of different capacities. Keller will act as the technical advisor for the project, while Markus will be in charge of the online community and memes. Buterin will serve as the foundation’s blockchain and cryptocurrency advisor, while Birchall will act as Elon Musk’s legal and financial representative.
First, the Board of Advisors will be tasked with raising enough money over the course of three years to pay a small, dedicated team to work on DOGE full-time. Volunteers have carried out the majority of the ecosystem maintenance thus far.