What is Dogecoin (DOGE)?

A Unique Name: Isn’t it? Ever heard of it? Then right now is the moment to apprise yourself with it. It may seem like an anecdote, but that is how this special digital currency’s journey began initially. As per the data, Dogecoin bears this strange but especially attractive name, which became a mascot of a Japanese breed of Dog called Shiba Inu and hence “DOGE.” After that, this rapidly growing cryptocurrency became a famous name, “Dogecoin.”

Dogecoin Overview

Cryptocurrency Dogecoin
Ticker Symbol DOGE
Price $0.09235
Price Change 24H +4.41%
Price Change 7D -1.98%
Market Cap $11,192,073,409
Circulating Supply 132,670,764,300 DOGE
Trading Volume $417,072,308
All Time High $0.7376
All Time Low $0.00008547
Dogecoin ROI +14997.44%

Dogecoin is decentralized and completely secure. Actually, Dogecoin poses an accessible and viable alternative to Bitcoin according to the historical data and recent Dogecoin price prediction. The unique, vibrant, Dogecoin community has allowed DOGE to achieve something of a cult following. Dogecoin is based on Luckycoin, which ultimately stems from Litecoin.

Dogecoin: History Can Get Interesting Too

Dogecoin was created just for sheerness with the mascot of the aforementioned Japanese dog by programmer Billy Markus and marketer Jackson Palmer in December 2013. Palmer left the company in 2015, but Markus remains its lead developer even today. Although it’s cloaked in a humorous veneer, Dogecoin’s developers have insisted that they take the project and their responsibility to users seriously over the years. As evidence, the company would even embark on some notable experiments in cryptocurrency design. Indeed, DOGE has proved its mettle too.

Dogecoin (DOGE): What is in this Name?

One of the most popular uses for Dogecoin is “tipping” fellow internet-goers who generate or share great content. It bears more value primarily due to its user-friendly system. No smart training, no special expertise required. It is easily compatible with your computer, smartphone, or website. Dogecoin is similar to buying any goods in supermarkets through credit cards. The only thing where Dogecoin stands apart is that DOGE is used with a wallet to buy goods or services or buy Dogecoin with Bitcoin or fiat currencies.

Dogecoin was designed to be a friendly, more approachable form of cryptocurrency that could reach users put off by the cold complexity of Bitcoin. Even its name is taken from a popular Internet meme. A choice feature of Dogecoin today is as a tipping service. Users will tip other users for posts or contributions that they believe deserve recognition. It is a more influential way rather than just “like” on any social media platform that encourages other users to read the review and definitely be fascinated to buy Dogecoin. Never ending social media hype by retail investor accounts for dogecoin cryptocurrency will always outshine newly launched dog coins like Shiba Inu.

Dogecoin Community: Talk of the Town

The touchstone of any of the leading coins is the popularity and fan wave that spins around them. The same holds true for the price of DOGE, as the adoption rate for Dogecoin is quite high according to Dogecoin price prediction. This digital currency’s dynamic and staunch value weaves an aura of the entire fan community that puts their faith in it. It is no surprise that the whole fanbase or community predicts that it would soon skyrocket in terms of price. This constitutes the main infrastructure of this asset, as the real Dogecoin value lies in the confidence the buyers have and the community support it gets. Hence, its Dogecoin adoption rate has increased.

DOGE might be among some of the most significant and most agile communities in the cryptocurrency world. Not only is the activity restricted to trading, but also this group of Dogecoin communities is noted for its philanthropic contribution as well. As per the Dogecoin news update, the currency has to merit major projects that it tends to fund. Dogecoin has succeeded in sponsoring NASCAR. The DOGE community uses its size to support good causes all over the crypto space.

  • In 2014, the Dogecoin community raised $50,000 to help send the Jamaican Bobsled team to the Sochi Winter Olympics.
  • For World Water Day (March 22, 2014), loyal Shibes raised $30,000 to help build clean-water wells in the Tana Valley, Kenya.
  • Shibes has even tried NASCAR (North American Stock Car Auto Racing). In March 2014, Shibes paid $55,000 to sponsor a driver named Josh Wise. Wise raced in a Dogecoin NASCAR-themed car.

Jackson Palmer, a creator of Dogecoin, believes, “Dogecoin’s success demonstrates how far cryptocurrency strayed from its original goals: I have a lot of faith in the Dogecoin core development team to keep the software stable and secure, but I think it says a lot about the state of the cryptocurrency space in general that a currency with a dog on it, which hasn’t released a software update in over two years, has a $1B+ market cap.”

Dogecoin (DOGE): Do Not Be a Pickpocket

Dogecoin token DOGE price has immense potential. With the kind of fame rising, the presence of Dogecoin is vast in comparison to other competitors. Of course, a major reason for this is the significant advantages stated hereinabove. Using Dogecoin needs no special training under expert guidance. Most friendly to use, it brings real value for its users. It is now easy to bag your Dogecoin. So, usage of Dogecoin means power in the hands of the user.

Install the Dogecoin Wallet for easy and secure transactions and storage. Track the price of Dogecoin, convert it to any cryptocurrency, and keep your money safe even if you forget your private keys or lose your phone. The Dogecoin wallet powered by Freewallet combines all of the best features of cryptocurrency wallets. It is the most suitable, free app for any user, regardless of whether they are an experienced miner, crypto newbie, or trader. Outstanding security DOGE wallet is a digitally hosted storage, which will give your assets the highest level of security available. The users who own dogecoin in their wallet can use it for dogecoin lending; they need to provide details, wallet address, and open an account there.

Your DOGE will be safe even if you lose your phone, as you can lock your account and retrieve your password. There are immense security packed features to be harvested too:

  • PIN code lock
  • 2-factor authentication
  • Fingerprint Login
  • Email confirmation for each transaction

In addition to protecting user accounts, Freewallet protects its own vault. A majority of protected currencies are stored offline in cold storage, ensuring their safekeeping.

What’s more? Users can refill their balance with almost any cryptocurrency and send it to almost any altcoin address. Transactions between users are free. In case you have a finger in trading, you can use an integrated cryptocurrency exchange to convert DOGE to almost any other coin.

Easy and comfortable to use, Dogecoin Wallet is a completely Free App with a friendly and beautiful interface. Download the app and log in with your email as username, Facebook, Google, or mobile phone number. Share your address via Twitter, Facebook, email, etc. Track Dogecoin’s real-time price charts and your balance in fiat currencies, check users’ transaction details via direct links to DOGE block explorers.

Dogecoin (DOGE): The Ingredient Weave

The main thing that separates Dogecoin from most other altcoins of the cryptocurrency market is inflation, rather than deflationary cryptocurrency. Bitcoin and many other cryptocurrencies are so formulated that they have a hard supply cap of currencies. The potential problem with this is that once the cap is reached, it may no longer be profitable for miners to continue to sustain the system. This leads to a rise in enormous high fees to encourage miners or very delayed or tardy transaction processes as there would be no objection to processing network transactions.

A government or bank is a centralized institution that can physically print its own money. In contrast, coins, like Bitcoin, Dogecoin, etc., take a decentralized approach to produce new tokens, and its community creates DOGE. As conveyed hereinbefore, Auxiliary Proof of Work (POW) forms the basis behind the functioning of DOGE, enabling miners to process Dogecoin transactions by using their computing power to solve complicated equations. Once the equation is solved, a new block is added to the Dogecoin network, and the miner is rewarded with DOGE.

This reward system works as a two-pronged strategy. One, it encourages miners to allow computing power to complete transactions on the Dogecoin blockchain, and two, it regulates the creation of new DOGE, which is then distributed by miners. The tipping service allows the user to send quick gifts to other users on Twitter and Reddit.