What is Dogecoin:
Dogecoin (DOGE) is based on the popular “Doge” Internet meme and features a Shiba Inu dog as its logo.
It is a cryptographically protected online network that allows users to send Doge to another without permission needed, but not as secure or decentralised as Bitcoin.
Doge is the most popular cryptocurrency in the US based on average monthly searches, according to coinmarketcap.com.
Priced at US$0.29 on 28 October Doge had a market cap of US$$34.8bn and a circulating supply of 132tn DOGE coins with no maximum supply.
A year ago, it was around US$0.002, which is a 13,000% price rise.
Whilst it has largely seen speculative trading, it has also had a practical use in tipping systems on Reddit and Twitter to reward the creation or sharing of quality content.
Tesla and SpaceX CEO Elon Musk has meanwhile posted several tweets on social media intimating that Dogecoin was his favourite crypto coin.
“Arguably the most entertaining outcome, the most ironic outcome would be that Dogecoin becomes the currency of Earth of the future,” Musk said.
He later added that the only cryptos in his portfolio were Bitcoin, Ethereum, and Dogecoin.
Who created it:
The digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, and was forked from Litecoin in December 2013.
After numerous inactive years, the foundation was relaunched in 2021 with a “renewed focus on supporting the Dogecoin Ecosystem, community and promoting the future of the Dogecoin Blockchain.”
The Doge team has involved notable industry players as part of its board of along with
Why it was created:
The creators envisaged Dogecoin as a light-hearted cryptocurrency, intended to have greater appeal beyond the core Bitcoin audience.
In 2013, Doge was originally a non-profit foundation formed by members of the Dogecoin team to provide support, trademark protection, and governance for the cryptocurrency project.
How you mine:
Doge has a block time of one minute and unlike Bitcoin the meme-coin’s total supply is uncapped.
Block time is a measure of the time it takes to produce a new block in a blockchain network.
For example, if you are mining Dogecoins, it is the time to validate new Dogecoins.
It can be mined on Windows, Mac, or Linux machines and either with the user acting alone or by teaming up in a mining pool
Where to buy Dogecoin:
Doge can be picked up on most top exchanges – including the likes of Coinbase, Binance, Mandala Exchange, and FTX – once its held via the exchange it’s like owning any other cryptocurrency.
