Table of Contents
- Dogecoin (DOGE) key figures
- Dogecoin (DOGE) USD Price Chart
- Useful resources about Dogecoin (DOGE)
- How to buy Dogecoin (DOGE)?
- Dogecoin prices and some historical dates. Chart analysis of DOGE and predictions.
- Dogecoin definition: what is it?
- How does Dogecoin work?
- Explanation of the Dogecoin Blockchain
- What is Dogecoin used for? What is its use?
- What are the wallets for storing Dogecoin (DOGE)?
- Frequently asked questions for the cryptocurrency Dogecoin (DOGE)
- Discover the prices (USD) of other cryptocurrencies in 2021
Dogecoin (DOGE) key figures
Dogecoin (DOGE) cryptocurrency price in USD
- Last Price: see above
- CoinMarketCap rank : 12*
- Total capitalization: $20,920,938,191*
- Diluted capitalization : $20,920,938,191*
- Circulating supply: 132.67B DOGE*
- Maximum number of outstanding tokens : infinite
- All-time high (ATH): $0.745*.
*Updated on 10/02/2022
Dogecoin (DOGE) USD Price Chart
The value of Dogecoin has grown by leaps and bounds as we enter 2021.
After an initial spike in late January, the currency gained value with an all-time high of $0.405/DOGE on April 19. The strong growth of Dogecoin can be traced back to a tweet posted by Elon Musk on April 15: “Doge Barking at the moon. This tweet from Elon Musk alone has largely influenced the trend of the Dogecoin price, causing the price to grow by 200% overnight and a total of 520% over a week. The Dogecoin price had already taken off and reached the value of $0.0463 (+264%) at the end of January thanks to numerous discussions on Reddit.
Promotions made on social networks have a strong influence on the Dogecoin (DOGE) price and some actors like Elon Musk are now considered as ambassadors able to influence the price of cryptocurrencies significantly.
Useful resources about Dogecoin (DOGE)
- Site : https://dogecoin.com
- Explorateur de blockchain : https://dogechain.info
- Liens réseaux : https://twitter.com/dogecoin
- Livre blanc : https://github.com/dogecoin/dogecoin/blob/master/README.md
- Code source : https://github.com/dogecoin/dogecoin
How to buy Dogecoin (DOGE)?
Binance is currently the platform that hosts the largest volume of DOGE. Dogecoin is then exchangeable on Binance with over 150 cryptos, safely and quickly, making the platform the most liquid in the industry. Commissions are up to 0.1%, relatively low compared to its industry competitors.
FTX is an exchange platform created in 2019. It offers a wide variety of assets, on a convenient and fluid interface. With relatively low transaction fees on all trades, the platform is attractive and innovative. On the security side, time will let FTX prove itself, but all indications are that they can be trusted.
KuCoin allows you to buy more than 200 cryptocurrencies with a commission rate of 0.1% and the highest security on the market. The platform is user-friendly and available in many languages.
Dogecoin prices and some historical dates. Chart analysis of DOGE and predictions.
2013: the birth of Dogecoin
It was initially a joke aimed at parodying the proliferation of cryptocurrencies and the often hazardous attraction that leads some to bet everything on a new currency that motivated Billy Markus and Jackson Palmer, two engineers, to create Dogecoin. Based on the meme showing a Shiba Inu, which was popular on the Internet at the time, it was thanks to the interest shown by Twitter users in this joke that Palmer decided in 2013 to buy the domain name dogecoin.com and teamed up with Billy Markus to make the meme a reality. At that point, DOGE had no pretense of becoming an attractive currency and was meant to be parodic and easily accessible.
By the end of 2013, Dogecoin is experiencing its first glories and managed to triple in value over a short period of time. The operation of the Doge does not prove to be infallible especially with a hack of the Dogewallet making 21 million coins disappear for a value of $12,000. History has quickly forgotten thanks to the community spirit of Dogecoin users, who repaid the losses within a month.
2014: a cryptocurrency with a charitable purpose
Dogecoin differs from other cryptocurrencies in that it is a charity. Indeed, the primary use of Dogecoin is to be able to pay small tips to creators on the Internet. Sports sponsorship actions also take places, such as for the Jamaican Bobsleigh team that almost saw itself participate in the Winter Olympics in 2014 or the NASCAR driver Josh Wise who was able to compete in several races, wearing the Dogecoin logo on his vehicle thanks to the $55,000 dollars raised by the community at the time.
2017-2019: Dogecoin gradually forgotten
From 2016 onwards, cryptocurrencies are experiencing ever-increasing success. Bitcoin sees its value exceed $20,000 for the first time in December 2017. In January 2018, we see the total number of cryptocurrencies reach 1,400. Dogecoin (DOGE) begins to fade into the background, melting among the many new currencies that appear regularly in the cryptocurrency market.
2020: the return of Dogecoin
In 2020, Dogecoin experiences one of the biggest rises among cryptos, growing more than 300% over the year. In 2021, Dogecoin sees its popularity rating rise back to the highest, causing its stock price to follow in the same direction. With a comeback on social networks, mainly Reddit and Twitter, the price of DOGE explodes and reaches $0.405 in April 2021. The high volatility of the price of the vast majority of cryptocurrencies cannot assure Dogecoin a certain future, but one thing is certain: the meteoric growth of its price will remain etched in people’s minds.
Dogecoin definition: what is it?
Dogecoin is a cryptocurrency created by 2 engineers who started it as a joke (or meme) on social networks. Seeing its community bond around the ironic symbol that Dogecoin represents, the currency will be representative of a shift from other cryptocurrencies, positioning itself on the fringe of the idea of speculation on its price.
How does Dogecoin work?
Dogecoin runs on the Scrypt algorithm, just like Litecoin. A block of the Dogecoin blockchain can be validated in 1 minute, making it a faster currency to mine than Litecoin or Bitcoin. It can be used as a medium of exchange, but can also be stored to hopefully see it increase in value.
Explanation of the Dogecoin Blockchain
Unlike Bitcoin, which runs on the SHA-256 algorithm, Dogecoin is based on the Scrypt algorithm (as is Litecoin). Dogecoin is mined faster than most other cryptocurrencies: a new block can be validated every minute, with less computing power required than for other crypto-currencies. The reward for each Dogecoin mined is therefore far less than on other cryptos like Bitcoin, but obtaining a corner is, therefore, easier and faster.
What is Dogecoin used for? What is its use?
The primary goal of Dogecoin, when it was created in 2013, was to unite a community on social networks around a joke aimed at denouncing the proliferation of cryptocurrencies and to show how accessible it was to create a cryptocurrency and make it valuable.
Sometime after its invention, Dogecoin was given a charitable notion with as its main function the possibility to tip creators on the Internet and raise funds for meaningful projects, such as sports events or solidarity actions.
A value of exchange and speculation
Although Dogecoin was not created to serve as a true currency of exchange destined to increase in value, this cryptocurrency remains extremely volatile and largely influenced by the sayings of the community that closely follows its news on various social networks.
However, as of the day of this article (February 2022), it has generally lower transaction fees than Bitcoin, which can make it an interesting medium of exchange if you want to send your funds from one exchange platform to another and limit transaction fees.
What are the wallets for storing Dogecoin (DOGE)?
Best known for its function as a crypto-currency marketplace, Binance also allows you to store your coins online. Although storing Dogecoin (DOGE) on online wallets should be favored for the short term, keeping your currencies on the Binance wallet, in particular, allows you to make a large number of transactions much faster.
Kraken is not primarily intended to be an online wallet, it is primarily a crypto-currency exchange platform. It is still possible to store your Dogecoin on Kraken: by importing them from another wallet or simply by buying them directly on the platform.
The MultiDoge wallet is dedicated to storing Dogecoin. However, this one works without downloading the full blockchain of the cryptocurrency. It is, therefore, lighter and allows for faster synchronization.
Jaxx is a desktop wallet that will allow you to manage several dozen different cryptocurrencies. The interface allows you to simply consult your balance, your transactions, and to quickly exchange your assets. On the security level, the site has no access to the data of its users, the wallet data is encrypted, so it offers good security of data storage.
The Dogecoin Core wallet has been specially designed to store DOGE by downloading the entire cryptocurrency blockchain. Therefore, the installation of this wallet is more time-consuming, but ensures more reliability, as you do not depend on a complete third-party node to check the compliance of transactions in the blockchain at the time of the transaction.
The Ledger Nano X is today the most popular hardware wallet. Offering security among the most reliable of the market, Ledger allows keeping the hand on its reserve of coins thanks to a recovery code allowing to access its DOGE even if the first password is lost. Its interface allows you to send and receive coins quickly. This hardware wallet costs $119, with free shipping to ensure the security of your DOGEs.
Trezor Model T
The Trezor Model T, just like the Ledger Nano X, offers one of the most reliable securities on the DOGE stock, with backup functions, regular access code updates… This hardware wallet also allows storage of many cryptocurrencies, and thus to have all its currencies available on a single wallet, is convenient!
The Safepal wallet allows on the one hand to secure its assets but also to manage them from a mobile application. Its product Safepal S1 is relatively inexpensive and offers all the features that a novice needs.
Frequently asked questions for the cryptocurrency Dogecoin (DOGE)
What is a Dogecoin (DOGE)?
A Dogecoin is a cryptocurrency created in 2013 by two engineers. Having a parody purpose at first and then a charitable one, its particularly volatile nature has allowed it to gain a lot of value since its creation. Today, it is one of the top-ranked cryptocurrencies on CoinMarket Rank and is very often talked about on social networks, especially on Twitter and Reddit.
What is the best way to buy DOGE?
The best way to buy DOGE today is through Binance, the platform with the highest volume of DOGE coins in circulation. It also offers a relatively low commission rate (0.1%) and allows you to exchange your DOGE with over 150 cryptocurrencies quickly.
How to store your Dogecoin (DOGE) safely?
There are several ways to store your Dogecoin. The safest way is to get a hardware wallet (Ledger Nano X for example), which is more expensive but offers a lot of security. It is also possible to use an offline wallet, a downloadable wallet (Dogecoin Core, Jaxx…), which allows you to access your Dogecoin stock without an internet connection. The last possibility is to get an online wallet, which offers the possibility, in addition to storing your currencies, to be able to exchange them on a single platform.
What are the advantages of Dogecoin?
The main advantage of Dogecoin, with a block time of 1 minute, is that it is easy to mine, consumes little energy, and is based on the same blockchain as Litecoin (Scrypt). DOGE also offers relatively low transaction fees.
Can we anticipate Dogecoin’s price movements?
Dogecoin is an extremely volatile cryptocurrency, as its price has shown in recent months. The Dogecoin community is very tight-knit and responsive on social networks like Twitter or Reddit, where most of the news about the Shiba currency is visible. This then makes DOGE a very price-sensitive currency that can experience strong fluctuations.
How to mine DOGE?
Linked to the Scrypt algorithm, Dogecoin mining is faster than many other cryptocurrencies like Bitcoin or Ethereum. In fact, validating a block of Dogecoin takes 1 minute. The reward for validating a block is therefore also low. To mine Dogecoin, several things are required. First of all, a computer, a good internet connection, and a wallet to store your DOGE are essential. Secondly, you need a way to mine. The basic processor of a computer can theoretically be enough, but its computing power is not sufficient, one can then use a GPU as well as software like CGminer or Easyminer to improve the mining capacity of its computer. It is also possible, with much more means, to acquire a Scrypt ASIC miner, specialized in the mining of cryptocurrencies like Dogecoin or Litecoin. This hardware, combined with software such as MultiMiner, CGminer, or Easyminer, will still consume much more electricity and is recommended for large-scale mining.
Is it possible to farm or stack Dogecoin (DOGE)?
It is not possible to stack for the purpose of earning interest in Dogecoin. Indeed, the Dogecoin blockchain does not natively support proof of stake (PoS), it is a blockchain that, like Bitcoin, and Litecoin uses proof of work (PoW). As far as farming is concerned, it is possible to mine Dogecoin in large quantities, but this requires more mining capacity and therefore a greater initial investment.
Score: 3.3/5 with over 145 votes