Dogecoin (DOGE) current price is $0.00201 with a marketcap of $238.27 M. Its price is -1.69% down in last 24 hours.
- Dogecoin (DOGE)
- Live Price $0.00201
24h % -1.69%
- Market Cap$238.27 M
- Volume$77.28 M
- Available Supply118.75 B DOGE
More Info About Coin
Dogecoin can be described in many different ways. However, one of the most accurate descriptions that people may say when they are asked is that it is considered to be a decentralized, peer-to-peer digital currency. People are using it for a number of different reasons and purposes including being able to send money very easily online to those who are presently accepting digital coins.
In fact, one of the simplest ways that many people refer to this type of payment or financing is internet currency. The mascot for this currency is easy to recognize on the net when searching because of the dogecoin symbol that it represented in this particular industry.
The History of the Dogecoin
Having said that, if you want to know more information about a type or platform of cryptocurrency, you may need to find out as much as you can about Dogecoin. The history of dogecoin is very interesting for those who know what has happened in the past. In fact, initially, the ideas behind this type of currency was far from the minds of those who put the name out there.
This is because the name and its overall possibilities started under the premise of actually being a joke so the creators were not really serious at all. However, even as a joke, others saw the possibilities of the promise of this new digital coin was born. Unlike Bitcoin, this new digital currency became a joke that massed its own full-blown community.
Since that time, the growth of this funny phenomena amassed enough digital currency that has now totaled over 100 billion coins. The creator of this currency is known by the name of Billy Markus who is a programmer that came from Portland, Oregon.
Purpose and Use Case of the Doge coin
While the dogecoin was considered to be the start of a fun project that got the attention of those who heard about the big joke, it was not long before the community begins to back this new cryptocurrency by getting involved with promoting it in places all over the web. As a result of the promotion that this digital currency received, the community became very strong in making sure that it not only held its overall value but kept it from sinking when it was hacked into.
It is also important to note that the community that stands behind has also sponsored several beneficial activities. Three of the most notable includes very popular events like Nascar, the Winter Olympics Charities and the Doge4Water funding raising projects.
All of which were able to bring in a substantial amount of digital currencies that added up to be in the millions of dogecoins for those who help in participating. Specifically, when it was concerning the amount that was raised for Nascar, which net earning around at least 55,000 dollars during this time frame.
Community Driven Dogecoin Momentum and Craze for Dogecoin Promotions
Dogecoin is community driven so the momentum that it has gained is due to the support that is has gained on twitter and other devoted social networks. With the creation of this crypto currency, it has reached a huge following that has led it to become a major competitor with Bitcoin and other platforms.
With its growth, it is important to note that this coin is being produced with no limits. Therefore, it can also be seen as an inflationary coin that has a lower potential value than others in the crypto industry. So, unlike bitcoin and other platforms, this is a crypto currency that has not increased in value at a high rate, especially for those who are looking to buy and grow strong financially.
Saved from Hackers with Community Support - Coins Replaced After Hack
Another significan key thing that people should know about this type of crypto coin is that the dogecoin was hacked at an early date and time by unauthorized persons. With this type of attack, a huge volume of the coins was loss and it was reported as being subject for being a digital currency that would no longer exist. However, with the dedication and support of its community users, the coins were replaced so that it continues to thrive.
Pros & Cons
|Low trnsaction fees||Started out as a joke coin, and does nothing fundamentally different or better than other cryptocurrencies such as Litecoin or Bitcoin|
|Faster transation times|
|Huge community behind it|
BCrypto Investment Tip
If you're looking for a coin that will give a 100x on your money within the next few years then Dogecoin isn't one of them. I'm sorry to say that because I love this coin for some reason but this coin was created as a joke and that's all it will be in the long run. It might be a decent coin for swing trading or day trading but hodling is not suitable for this coin. Most of the circulating supply of dogecoin is owned by a group of people that got in early and that mine most of the coins now days, which makes it very easy for them to manipulate the price of doge (if you look at the price chart of dogecoin and see those huge price spikes, you'll get what I'm talking about).