Dogecoin (DOGE) Crypto Exchange

About Dogecoin

As of September 15 at 01:28 a.m., price of Dogecoin (DOGE) stands at $0.10592994, with a 24-hour trading volume of $669.73 million. In the past 24 hours, the price has seen a decline of 0.37%. Currently, Dogecoin has a circulating supply of 145.94 billion coins and a market capitalization of $15.46 billion.

Doge serves as the native cryptocurrency of Dogecoin, which originated as a parody of other cryptocurrencies, inspired by a viral meme featuring a Shiba Inu dog. Initially, this crypto project was created to mock the numerous cryptocurrency initiatives emerging at that time.

Essentially, Dogecoin is a replica of Litecoin’s code and functions as a means to transfer value online, similar to other digital currencies. Although Doge was not intended to have significant real-world applications beyond a basic blockchain payment system, it quickly garnered a dedicated community that identified and developed various use cases. These included a third-party online tipping service, which established Doge as a prominent tipping currency on the social media platform Reddit, as well as facilitating crowdfunding for charitable initiatives using Dogecoin.

Doge Price

In contrast to many other cryptocurrencies, the creators of Dogecoin did not conduct a public sale or pre-mine coins before the token's launch. Instead, they set a total supply cap of 100 billion coins, allowing anyone with a laptop or smartphone to start mining Doge right away.

Another distinctive feature of Dogecoin was its block reward structure. Mimicking the schedule of a project called LuckyCoin, Doge's block rewards were entirely random, enabling miners to earn anywhere from 0 to 1 million Doge for mining a single block. The range of coins available for block rewards was gradually reduced every 100,000 blocks until 2014, when the founders opted to implement a fixed block reward system. From that point onward, successful miners received 10,000 Doge per block.

Despite Dogecoin's initial popularity among early cryptocurrency enthusiasts, it only experienced two significant price surges during its first nearly four years in the market. The first surge occurred shortly after the token's launch, with its price skyrocketing by 1,061% in just 15 days, rising from $0.0002 to $0.0023. The second notable increase happened in March 2017, coinciding with the early phase of a cryptocurrency bull market, where Doge's price surged by 1,494% to reach a peak of $0.004, marking its highest value since inception.

While many other digital assets continued to appreciate through the second quarter of 2017, Dogecoin's price fell below $0.001. It wasn't until November 2017 that Doge found renewed support from optimistic investors. By January 2018, the price had climbed to a peak of $0.018.

It took over three years for Doge to regain that level after enduring a prolonged period of low trading activity as enthusiasm for the token diminished. Renewed interest, fueled by endorsements from Tesla CEO Elon Musk and other celebrities at the beginning of 2021, propelled Doge's price beyond its previous all-time high. Between January and May, the coin experienced a staggering 9,884% increase, ultimately reaching a new all-time high of $0.74 by the end of the rally.