Dogecoin (DOGE) is ranked #12 by market capitalisation, at $14.8B. Circulating supply: 171.75B DOGE. The price is 87.0% below its all-time high of $0.7316, set on May 7, 2021. Categories: Smart Contract Platform, Meme, Dog-Themed, Elon Musk-Inspired.
Dogecoin is an open-source digital currency based on the "Doge" meme that functions as a peer-to-peer medium for fast payments and digital tipping. Unlike projects backed by corporate entities, its value is driven by a global community, and the project is managed by a decentralized group of volunteers and the non-profit Dogecoin Foundation rather than a formal company.
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Originally created in 2013 by software engineers Billy Markus and Jackson Palmer as a market parody, the project held no public sale or venture capital rounds. The network operates as a fork of LuckyCoin, which itself was a fork of Litecoin, using a proof of work consensus mechanism. It employs the Scrypt algorithm to ensure the mining process remains fast and efficient, with new blocks processed every 60 seconds.
A unique technical feature is its use of merged mining, allowing miners to secure Dogecoin simultaneously with other Scrypt-based networks like Litecoin. To keep transaction fees low and the network running indefinitely, Dogecoin features an uncapped supply where new coins are added forever.
Project description: CoinGecko (in English).
