Dogecoin
DogecoinRank: # 10
Market Cap: $ 23,438,040,737
Volume (24hrs): $ 1,149,034,651
Circulating Supply: 168,274,793,127 DOGE
Price in BTC: Ƀ 0.00000151
Change (1 Hr): 0.20%
Change (7 Days): -7.51%
Change (30 Days): 1.27%
All Time High: $ 0.731578
All Time High Date: May 8, 2021
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- VanEck: Clarity will turn Q1 into a ‘risk-on’ quarter for investorsCointelegraph.com News - 7 hours agoVanEck predicts investors will be more confident in Q1, citing improved fiscal visibility and monetary clarity, though the jury is still out on how Bitcoin…
- Bitwise calls 401(k) Bitcoin allergy 'ridiculous' as Warren presses SECCointelegraph.com News - 7 hours agoUS President Donald Trump opened the door for cryptocurrencies to be included in 401(k) retirement plans in August last year with an executive order. Bitwise…
- Court temporarily stops Tennessee from taking action against KalshiCointelegraph.com News - 7 hours agoKalshi is free to continue operating in Tennessee for now, as a federal judge blocked state regulators from taking action after the prediction market sued.…
- SEC boss bullish Trump will sign market structure bill this yearCointelegraph.com News - 7 hours agoSecurities and Exchange Commission chair Paul Atkins voiced strong support for the bipartisan legislation aimed at moving crypto markets out of a regulatory gray zone.…
- Banks’ stablecoin concerns are ‘unsubstantiated myths‘: ProfessorCointelegraph.com News - 8 hours agoA Columbia Business School professor debunked five banking industry misunderstandings about stablecoin yields as the market structure bill heads for markups this month. The US…
What is Dogecoin?
Dogecoin is a fun meme coin that was launched on December 6, 2013. The coin is a decentralized peer-to-peer currency that tried mimicking the popular Bitcoin, but in an an effort to surpass Bitcoin's popularity. Doge features a cartoon Japanese character Shiba Inu, that acts as the coin's mascot. The intention of this mascot is to show the fun part that this coin was intended to be.
Dogecoin's developer Billy Markus based this coin's code on Lucky coin, that is based on another coin called tecoin. Litecoin uses the scrypt technology in its proof-of-work consensus mechanism preventing dedicated Bitcoin miners from mining. It is for this reason that Dogecoin was at least originally effectively mined with ordinary PCs instead of the dedicated miners.
While it was introduced as a fun coin, Dogecoin's community has since grown by a lot. It is now mainly used to tip social media users who contribute great and interesting content on various platforms. Instead of simply liking their content, the contributors get rewards in form of Dogecoins. It is also frequently used for raising funds for charity events, eg. in the case of the construction of a well in the Tana river delta in Kenya.
Apart from Billy Markus, who came up with the original idea, another key individual in the coin's development is Jackson Palmer of Adobe Systems. It is Palmer who took over this project and propelled it to its current status.
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