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What is Dogecoin? – Dogecoin price

Follow our guide on what Dogecoin is and its price activity.

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.

What is Dogecoin?

Dogecoin is a “meme” cryptocurrency, created in 2013 as a joke for the industry to not take itself too seriously. One of the creators claimed that the original intent was a parody to all the other “serious” crypto-cloans. However, it has exploded in popularity over the recent months, thanks to big name celebrities like Mark Cuban, Elon Musk, and Snoop Dogg.

The token´s logo is a Shiba Inu dog, and has built a vibrant and engaging community surrounding the project. Although the protocol has no active developers working on it, nor any upgrades in years, it has become the sweetheart token for many in the cryptocurrency space.

Today’s Dogecoin price

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Updated: 16 Oct 2021 08:19:20 UTC

Dogecoin at a glance

Ticker symbolDOGE
UseDigital Asset
Year released2013
OriginUnited States
Maximum supplyUnlimited supply
Consensus algorithmProof of Work
Notable team membersJackson Palmer (left in 2015)
Mineable?Yes

How does Dogecoin (DOGE) work?

Dogecoin is a proof-of-work blockchain, similar to that used by Bitcoin and Litecoin, in which miners run the software in order to maintain the security of the network. However, it has an average block time of 1 minute, can handle up to 30 transactions per second, and is much cheaper than other proof-of-work chains with an average fee of 1 cent per transaction.

It’s important to note that currently there are no developers working on the project, nor have there been any significant upgrades in years.

What’s next for Dogecoin?

Dogecoin has had an incredible run in 2021. It went from a fringe meme coin to a top-10 cryptocurrency by market capitalization. However, it has no real world utility, no active developers, and no working roadmap. As such, it should be viewed as a purely speculative asset, with a clear understanding that it was created as a joke. Regardless, those that are looking to buy can view Finder’s how to buy DOGE article. It’s worth noting that many assets are also driven by hype, and with the big names that are daily touting DOGE, it could continue its upward trend in the future.

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