Dogecoin is a Litecoin-based cryptocurrency symbolized by a meme depicting the Japanese dog breed Shiba Inu. This digital asset was developed by Billy Marcus and Jackson Palmer in 2013. The altcoin, created as a joke, is not yet widely used, but it is actively used on the Internet as a tip. Another distinctive feature of this cryptocurrency is a community of admirers actively involved in charity.
|Capitalization||$ 36 442 452 048|
|Method of protection||PoW|
|Project launch year||2013|
The developers compared this coin to the change we throw into the piggy bank. The cryptocurrency was launched without an ICO or pre-money. Initially, it was supposed to issue 100 billion tokens, but as a result of a mistake, according to the creators of the altcoin, the issue of DOGE remained unlimited.
Dogecoin digital coins attract the attention of users due to their low transfer fees. The advantages of altcoin also include fast block confirmation, which takes about 6 minutes. For Litecoin this operation takes up to 15 min, for Bitcoin – 1 hour.
Dogecoin is used to pay tips to users of Twitter and Reddit platforms. You can get paid in digital coins for publishing useful, interesting, or funny content. Investors use DOGE for trading and making money from rate fluctuations. The coin can also be considered suitable for long-term investments, given its increasing popularity and constant price growth.
You can buy altcoins through your personal account on exchanges:
DOGE can be exchanged for both digital and fiat money. A cryptocurrency wallet is used to store and withdraw funds. The Dogecoin blockchain can process about 30 transactions per second. The commission for processing financial transactions is usually about a cent.
Elon Musk had an active hand in boosting the popularity of Dogecoin in 2021. His repeated mentions of the coin on his Twitter led to an increase in the rate. Now the interest in DOGE depends on the popularity of the meme cryptocurrency.
The demand and prospects of the digital coin with the image of a Shiba-Inu are confirmed by the increased interest of investors in this asset. Traders in reviews note the low transaction fees, growing capitalization, and the presence of Dogecoin on most popular exchanges. The disadvantages of the meme crypto-asset include dependence on an HYIP, the instability of the exchange rate, and the long update of the local wallet.
Dogecoin’s proof of work protocol differs from Bitcoin in many ways. One is the use of Scrypt technology. Dogecoin also has a block time of one minute and an uncapped total supply. This means that the amount of Dogecoin that can be mined is unlimited. Dogecoin can be mined either by yourself or in a mining pool. A Doge miner has the ability to mine the digital currency from Windows, Mac, Linux, and even with a GPU. You can now mine Litecoin the same way as Dogecoin. The processes have been merged.
You can sell or purchase Dogecoin on any exchange that provides digital currency such as DotBig.com.
DOGE continues to gain popularity in trading. In case the project’s updates are released, the price of altcoin may rise again. Low transaction fees and fast block generation make Dogecoin attractive for investors and business owners who accept this cryptocurrency as a means of payment.