The live price of Dogecoin today is $0.07 USD. Dogecoin is up -2.67% in the last 24 hours compared to $USD. Dogecoin has a live market cap of $10,256,000,271.07 USD, and a circulating supply of 138,632,066,384 DOGE.

Website: Dogecoin.com

What Is Dogecoin?

Dogecoin is a cryptocurrency based on the famous “doge” Internet meme and has a Shiba Inu as its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin’s developers hoped it would appeal to a wider audience than Bitcoin because it was based on a dog meme. Elon Musk, CEO of Tesla Motors tweeted that Dogecoin is his favorite coin several times on social media.

How Is Dogecoin Mined?

Dogecoin is different from Bitcoin because it uses Scrypt technology. It also has a block time of 1 minute and the total supply is uncapped, which means that there is no limit to the number of Dogecoin that can be mined. You can mine Dogecoin solo or by joining a mining pool. A Doge miner can mine the digital currency on Windows, Mac or Linux, and with a GPU. As of 2014, you can also mine Litecoin in the same process of mining Dogecoin, as the processes were merged.

What Is Dogecoin Used For?

Dogecoin is a type of digital currency that can be used to reward people for creating or sharing good content on social media websites like Reddit and Twitter. You can get tipped Dogecoin by participating in these communities, or you can get your Dogecoin from a website that gives it away for free. This is a great way to start using Dogecoin and getting involved in its communities.

How To Buy Dogecoin?

You can sell or buy Dogecoin at any exchange that offers the digital currency. You can store it on an exchange or in a Dogecoin wallet. You can also tip Dogecoin in any communities that accept Dogecoin. For the latest list of exchanges and trading pairs for this cryptocurrency, click on our market pairs tab.

Elon Musk and Dogecoin

Dogecoin has been successful because Elon Musk is passionate about it. He started tweeting about it in early 2021. He shared a Lion King DOGE meme. That made the price of Dogecoin go up. It went down sometimes, but it went up more than it went down. Then Elon Musk appeared on Saturday Night Live.

After appearing on SNL, the price of DOGE crashed. This was despite Musk’s promise to moon its price. However, in the following months, it seemed like Musk lost interest. The price of DOGE then tumbled over 70% from its all-time high. Even though Musk doesn’t seem to be interested anymore, he still has some power over Dogecoin because of his occasional tweets.

Dogecoin Foundation

In 2014, a group of people who worked on the Dogecoin project created a not-for-profit foundation to provide support, advocacy, trademark protection and governance for the cryptocurrency project. However, the foundation was dissolved over time.

The foundation that supports the Dogecoin ecosystem and community was relaunched in 2021. The project has a renewed focus on the future of the Dogecoin blockchain, with some experienced players joining the board of advisors.

The board will meet monthly to discuss issues related to Dogecoin, according to the foundation’s website.

The group has advisors such as Dogecoin founder Billy Markus, the project’s core developer Max Keller, Ethereum founder Vitalik Buterin and Elon Musk as represented by the head of the Musk’s family office, Jared Birchall.

The Board of Advisors will have different roles. Keller will be a technical advisor, Markus will be in charge of the community and memes, Buterin will be a blockchain and crypto advisor for the foundation, and Birchall will represent Elon Musk as legal and financial advisor.

The Board of Advisors has its first assignment: to get three-year funding so that someone can work on Dogecoin full-time. So far, the work on the ecosystem has been done by volunteers.