Dogecoin to Canadian Dollar Exchange Rate

Live Rate

= $ 0.0025

Refreshing in: 60s | Sun, Mar 29, 07:42PM GMT

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Historical rate chart of DOGE and CAD

1
0
Updated: 29 Mar 2020 19:42:30 UTC
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Dogecoin: the original “joke currency” with potential for growth

After an incredible growth rate of 490% in 2017, the prospects for Dogecoin in 2018 should be watched carefully.

A US$1,000 investment in Dogecoin one year ago would have netted US$490,000 in profit. That amount equals a 490% increase. The question is, are the conditions right for a similar percentage gain in 2018?

At the beginning of 2018, Dogecoin (DOGE) was trading at US$0.009, cooling off from its record high of just over US$0.01. For any trader, it’s important to remember that in the year 2017, there was a thirty-time increase in global cryptocurrency market capitalization. This means that for the well-schooled buyer, DOGE may be one of the cryptocurrencies to watch out for in 2018.

As the DOGE community says, “DOGE isn’t the end of cryptocurrencies… it’s the beginning.” With confidence like that, it is easy to see how the daily trading volume in DOGE has increased.

In January 2017, the average daily trading volume was US$188,000. By Christmas Day 2017, at the height of a recent bull run, DOGE recorded a whopping US$162 million worth of trades.


DOGE has turned into a bull

For what was initially intended to be a “joke currency”, DOGE has performed well, and at the start of 2018 was valued at just over US$0.09. Numerous twitter feeds looking for the next cryptocurrency bull run under US$0.01 consistently choose DOGE.

The question with DOGE is: What is its value based on? Being a joke currency, does it have a chance of being a genuine form of money? Obviously, there is some demand for DOGE since there are miners willing to process the transactions, but whether people are using it as a currency or simply for speculative trading is hard to know.

There was previously a maximum of 100 billion units of DOGE, however that was recently lifted. However, if a new maximum is put into place and those units have already been mined into existence, all the transactions that are taking place on the DOGE blockchain are being conducted for a fee.

If the profitability of mining DOGE falls away, will it still have some use as a currency? It’s not clear when or if that will happen, but this is a key development that buyers should be aware of.

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Atomic Wallet
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TREZOR Model T Wallet
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Corazon Wallet
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CoolWallet S Wallet
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Market rate for common transfer amounts DOGE to CAD

Dogecoin (DOGE) Canadian Dollars (CAD)
Đ1 0
Đ100 0
Đ500 0
Đ1000 0
Đ1500 0
Đ2500 0
Đ5000 0


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