DOGE

Dogecoin price

DOGE
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$0.149976

-$0.0053 (-3.41%)

24H
  • 1H
  • 24H
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  • 1M
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ALL
1Y
1M
1W
24H
1H
Market cap
$19.39B
Volume (24h)
$1.18B
Circulating supply
129,251,963,658

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DOGE/USDT
₮0.14$0.15
-3.42%
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About Dogecoin (DOGE)

Dogecoin is a peer-to-peer, decentralized digital currency, as well as the name of the network it transacts on. You'll often see Dogecoin, the currency, referred to with its ticker symbol, DOGE. Dogecoin started as a joke based on a popular 2013 meme. However, its community appeal, launch mechanism and utility for tipping social network users quickly saw it build a significant following. The network is actually a fork of the now-defunct Luckycoin. Luckycoin, itself a fork of Litecoin, had a random block reward, ranging between 1 and 1 million coins. Dogecoin borrowed this model, only it halved the maximum random reward every 100,000 blocks. In 2014, the block reward structure was changed to issue a fixed but steadily decreasing number of DOGE each year. Another change in 2015 set the reward at 10,000 DOGE per block. DOGE uses the same Scrypt proof-of-work algorithm as Litecoin. However, its initially inconsistent block rewards made it unpopular with miners. Sensing that Dogecoin's low hash rate made it a likely target for a 51% attack, Litecoin founder Charlie Lee worked with Dogecoin's founder to introduce merge mining to the network. Doing so enhanced Dogecoin security and allowed Litecoin miners to simultaneously mine LTC and DOGE with no additional energy use.

Learn more about Dogecoin (DOGE)

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Dogecoin FAQ
How to buy Dogecoin?

Dogecoin is just one of the hundreds of digital assets available on OKX. If you don't already have an account, sign up now and start trading DOGE.

Quick buy: Buy DOGE in minutes with a range of widely used payment methods.

Exchange: For traders and more experienced users. Trade DOGE using different order types and other advanced features.

How many Dogecoins are there?

As of January 2021, there are around 128 billion DOGE in circulation. Dogecoin has a block time of one minute, and the network rewards miners with 10,000 DOGE for every block they add. Therefore, Dogecoin has no cap on supply.

This supply schedule has an inflationary impact on DOGE's price. However, since block rewards are now fixed, issuance is actually decreasing relative to the coin's total supply. While possibly undesirable for investors, inflation is needed to incentivize Litecoin miners to secure the network.

What does the DOGE meme mean?

Like many online phenomena, Doge memes don't really mean anything. People enjoy them because they're amusing, but there is no deep underlying concept to grasp.

The original meme that inspired Dogecoin features a scared looking Shiba Inu. Various brightly colored words and phrases, written in Comic Sans, surround the image. Each phrase is part of the dog's inner monologue and is written in a nonstandard style of English.

As is common online, internet users copied and built on the format. Not all subsequent Doge memes use exactly the same image. However, all Doge memes have Comic Sans text and at least one example of the iconic canine breed. They all make use of the same language conventions, too. Phrases like "so scare," "much wow" and "such treat" are examples.

Why is Dogecoin popular?

Inspired by one of the most popular memes ever, Dogecoin had natural appeal from the start. However, given people's love of dogs in general, along with the particularly cute image used in Dogecoin branding, there's a good chance DOGE would have won a lot of fans, even if the meme never existed.

Dogecoin's specifications also add to its popularity. Its creation was in part a commentary on the cryptocurrency industry itself. Bitcoin's early success had inspired the creation of other digital currencies, which often featured a pre-mine or some other mechanism to enrich their founders.

Dogecoin, by contrast, had no pre-mine, and its extreme inflation rate made it unlikely to appeal to a "get rich quick" crowd. A fun Dogecoin community quickly formed around the project. More recently, DOGE has attracted A-list fans, including Tesla's Elon Musk and rock star Gene Simmons.

What is the difference between Dogecoin and Litecoin?

Dogecoin was a fork of Luckycoin, which was a fork of Litecoin. Dogecoin and Litecoin are both open-source, decentralized cryptocurrencies that use the Scrypt proof-of-work algorithm. However, there are several differences between the two projects.

Dogecoin's one minute average block time is shorter than Litecoin's 2.5 minutes. There is also no limit on the number of DOGE that the protocol can create. Meanwhile, Litecoin has a supply cap of 84 million. Litecoin mining rewards halve every 840,000 blocks to reach this limit, whereas Dogecoin rewards are fixed at 10,000 DOGE per block.

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Dogecoin price statistic

Price today
Dogecoin price
$0.149976
Price change (24h)
-$0.0053
-3.41%
Low and high (24h)
$0.146929Low
$0.166421High
Volume (24h)
$1.18B
Circulating supply
129,251,963,658
Market cap
$19.39B

Found any mistakes?

Dogecoin FAQ
How to buy Dogecoin?

Dogecoin is just one of the hundreds of digital assets available on OKX. If you don't already have an account, sign up now and start trading DOGE.

Quick buy: Buy DOGE in minutes with a range of widely used payment methods.

Exchange: For traders and more experienced users. Trade DOGE using different order types and other advanced features.

How many Dogecoins are there?

As of January 2021, there are around 128 billion DOGE in circulation. Dogecoin has a block time of one minute, and the network rewards miners with 10,000 DOGE for every block they add. Therefore, Dogecoin has no cap on supply.

This supply schedule has an inflationary impact on DOGE's price. However, since block rewards are now fixed, issuance is actually decreasing relative to the coin's total supply. While possibly undesirable for investors, inflation is needed to incentivize Litecoin miners to secure the network.

What does the DOGE meme mean?

Like many online phenomena, Doge memes don't really mean anything. People enjoy them because they're amusing, but there is no deep underlying concept to grasp.

The original meme that inspired Dogecoin features a scared looking Shiba Inu. Various brightly colored words and phrases, written in Comic Sans, surround the image. Each phrase is part of the dog's inner monologue and is written in a nonstandard style of English.

As is common online, internet users copied and built on the format. Not all subsequent Doge memes use exactly the same image. However, all Doge memes have Comic Sans text and at least one example of the iconic canine breed. They all make use of the same language conventions, too. Phrases like "so scare," "much wow" and "such treat" are examples.

Why is Dogecoin popular?

Inspired by one of the most popular memes ever, Dogecoin had natural appeal from the start. However, given people's love of dogs in general, along with the particularly cute image used in Dogecoin branding, there's a good chance DOGE would have won a lot of fans, even if the meme never existed.

Dogecoin's specifications also add to its popularity. Its creation was in part a commentary on the cryptocurrency industry itself. Bitcoin's early success had inspired the creation of other digital currencies, which often featured a pre-mine or some other mechanism to enrich their founders.

Dogecoin, by contrast, had no pre-mine, and its extreme inflation rate made it unlikely to appeal to a "get rich quick" crowd. A fun Dogecoin community quickly formed around the project. More recently, DOGE has attracted A-list fans, including Tesla's Elon Musk and rock star Gene Simmons.

What is the difference between Dogecoin and Litecoin?

Dogecoin was a fork of Luckycoin, which was a fork of Litecoin. Dogecoin and Litecoin are both open-source, decentralized cryptocurrencies that use the Scrypt proof-of-work algorithm. However, there are several differences between the two projects.

Dogecoin's one minute average block time is shorter than Litecoin's 2.5 minutes. There is also no limit on the number of DOGE that the protocol can create. Meanwhile, Litecoin has a supply cap of 84 million. Litecoin mining rewards halve every 840,000 blocks to reach this limit, whereas Dogecoin rewards are fixed at 10,000 DOGE per block.