Wondering where to buy Dogecoin, or how to buy DOGE? Numerous crypto exchanges host Dogecoin trading. Prices subsequently fell dramatically in the same year, however, dropping under the $0.20 mark at times. The asset shot up in 2021, swiftly reaching $0.74 on May 7. dollar) format.Īside from a few brief periods, such as trading around $0.02 in 2018, DOGE’s price largely traded below the $0.01 price point for much of its existence, according to the DOGE price chart above. The top of the page includes Dogecoin’s live price (Dogecoin’s current price) in Dogecoin-to-USD (U.S. What is one Dogecoin worth? DOGE’s value constantly changes amid the greater crypto market - a market that trades every day of the year, around the clock. Dogecoin priceĭogecoin fanfare took off in 2021, with high-profile celebrities ranging from Musk (the self-proclaimed “Dogefather”) and Guy Fieri to Mark Cuban and others all jumping on the DOGE bandwagon. The blockchain can see upward of 50,000 DOGE transactions completed per day. Dogecoin’s algorithm is less tricky to mine than Bitcoin’s SHA-256 therefore, blocks are completed much more quickly.ĭogecoin’s average block time is about one minute vs. Like Litecoin, Dogecoin uses the Scrypt hashing function. In 2014, Dogecoin was merge-mined with Litecoin, allowing Litecoin mining pools to also mine DOGE at the same time. How to mine Dogecoinĭogecoin miners have two options: They can either go it alone, which is recommended for megaoperations, or become part of what is known as a mining pool in which multiple miners contribute their hashing power and therefore share in the block rewards. Wondering how to get some DOGE, or how to invest in Dogecoin? Dogecoin mining is one way to get a hold of Dogecoin, though you can also buy, sell and trade DOGE. In addition, DOGE has been directed toward charitable donations, including to the Jamaican national bobsleigh team and also to build wells in Kenya during a water crisis. Major League Baseball (MLB) team the Oakland A’s has also accepted Dogecoin as payment for tickets to its ballpark. More specifically, Dogecoin is an auxiliary proof-of-work (AuxPoW) cryptocurrency that has an unlimited supply, with 5 billion DOGE issued into circulation each year.ĭogecoin has been used to pay for tickets and merchandise for the Dallas Mavericks of the National Basketball Association (NBA). How Dogecoin worksĭOGE is a coin running on its own proof-of-work (PoW) blockchain, with miners running the network. The popularity of the cryptocurrency and its associated price rally, as reflected in the above Dogecoin chart, has largely been fueled by the endorsement of billionaire entrepreneur Elon Musk, whose bullish tweets helped catapult Dogecoin to stardom. With its explosive price jump upward in 2021, Dogecoin’s market cap also grew substantially. The meme’s dog mascot, which became known as “Doge,” caught on like wildfire and uses two-word catchphrases usually leading with a modifier such as “much wow.” Doge was taken on as the mascot of the Dogecoin project. The inspiration for Dogecoin was a 2010 picture of a Shiba Inu that was turned into a meme. Who created Dogecoin? In an attempt to build a fun, friendly alternative to Bitcoin, Dogecoin was co-founded by software engineers Billy Markus and Jackson Palmer, both of whom cashed out of the project in 2015 (though Markus has still accepted DOGE tips). The maiden block on the Dogecoin blockchain was mined in 2013. Dogecoin was a fork of Luck圜oin (LKY), which in turn was a fork of Litecoin ( LTC), which was itself forked from Bitcoin ( BTC). With a market capitalization that exploded in 2021, DOGE became one of the biggest - and most infamous - cryptocurrencies. Dogecoin (DOGE), “an open-source, peer-to-peer digital currency,” may have started as a joke, but the cryptocurrency appears to have had the last laugh.
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