Dogecoin (DOGE) is a joke cryptocurrency based on the Litecoin source code. The authors wanted to release coins that would be accessible to everyone. A red-haired Shiba Inu with surprised eyes was placed on the project logo, which partly brought popularity to the project.
Dogecoin has been operating since 2013. During this time, the project was predicted to collapse more than once, but it seems that it has no plans to give up. Today it is a cryptocurrency with a large community that is involved in charity and helping athletes from underdeveloped countries. The Dogecoin rate is of interest to many investors, for whom the coin has been bringing additional income for a long time.
Features of the coin
The logo of the project is the Shiba Inu rescue dog, which has made a splash on the Internet. After her photos were published by her owner, a kindergarten teacher, Shiba Inu became an Internet meme.
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Let us note that the creators were not mistaken with the logo. It is to him that the project owes such popularity. The low cost of the coins and the surprised eyes of the dog attracted not only professional investors, but also casual users who did not spare a cent to buy “ Dog Coins ”.
The decentralized cryptocurrency Dogecoin is designed for sending money online. The project is characterized by a vibrant and friendly community that does good things, including charity work.
Dogecoins are exchanged for other financial assets and accepted as payment for goods and services. Dogecoin pays online participants who exchange personal information.
The Dogecoin mechanism includes artificial inflation, which amounts to 5% per annum of the total issue. This factor increases the attractiveness of mining, since 5 billion new coins are issued every year. This process rests on the Dogecoin algorithm.
Functional features of the project:
- No scalability problems. User activity of the project is regularly stable.
- Options for earning tokens without investments, in particular faucets.
- Fast transactions and low commission, which is 1 DOGE. Since the cost of coins is minimal, payments are practically free.
- Prevalence of cryptocurrency on the network. Dogecoin is traded on popular cryptocurrency exchanges, accepted as payment by various platforms, and exchanged on large exchange resources.
Buy or sell cryptocurrency
Over the years, Dogecoin has proven itself to be a serious decentralized system that is designed for reliable and unknown transactions.
Dogecoin price chart (online)
Today (02/05/2019) the Dogecoin exchange rate in US dollars is $0.00187543. Note that the rise of Dogecoin began in April 2017. Before this, the coin rate was not characterized by sharp jumps and remained stably low. In terms of capitalization, the cryptocurrency ranks 25th, leaving behind larger-scale projects.
The low cost and capitalization indicators indicate that Dogecoin is in great demand. And this despite the fact that the last updates to the platform were carried out in 2015. Today, the development of the coin is carried out by a small team of developers who promise to surprise the cryptocurrency community with new ideas in the near future.
Record growth of Dogecoin: all-time chart
In January 2022, Dogecoin rose more than 800% in 24 hours, reaching a price of $0.07 as a result of attention from Reddit users.
And in February, Elon Musk, the charismatic billionaire, head of Tesla and SpaceX, entered the picture, and with his tweets and statements in the press, he pulled a strange coin into the global TOP 10 cryptocurrencies. In July 2021, Dogecoin’s capitalization, according to CoinGecko, amounted to $30 billion.
For the first time, the paths of Musk and cryptocurrency “crossed” in 2022 - then the businessman wrote on Twitter that Dogecoin could become his favorite cryptocurrency.
Since February 2022, Musk has constantly mentioned Dogecoin in his tweets. The billionaire reported that he bought Dogecoin for his son, and also offered large holders of the altcoin a reward for emptying their accounts. According to Musk, the concentration of coins on a small number of wallets is the main problem of Dogecoin.
The head of Tesla even conducted a survey among his Twitter followers. He wondered if Dogecoin should be added to payment methods for purchasing the company's electric vehicles. Almost 4 million people took part in the vote, and 78% of them answered the question in the affirmative. As a result, on May 4, 2022, the price of Doge exceeded the $0.50 barrier, increasing by more than 20,000% over the year, as evidenced by the Dogecoin price for all time.
So, on May 15, Musk announced on Twitter that he would develop the project and is already working closely with the developers. One of the main goals of the project is to strengthen Dogecoin as an environmentally friendly alternative to Bitcoin (its energy consumption is already only 7% of the energy consumption of the world's main cryptocurrency).
After this, the businessman intends to increase the speed of block production and their size by 10 times, and only then reduce commissions by 100 times. “To become the currency of the Earth, you need low commissions and high volume,” Musk emphasized. And finally, another target program is to increase the efficiency of transactions.
In June 2022, the entrepreneur supported the proposal of the Dogecoin developers to update the network, within the framework of which transaction fees could be reduced by 100 times. Musk managed to mention the digital coin in early July. He responded to rumors about whether it would be possible to mine Dogecoin on the Tesla supercomputer, which is currently in development, and also posted several memes about the altcoin.
After Elon Musk mentioned Dogecoin, the coin, as a rule, rose sharply in price. By May 8, its rate reached a historical maximum of $0.73 (plus 18,150% since the beginning of the year). But after the collapse of the crypto market on May 19, the quotes of the digital coin began to decline.
The Dogecoin price fell to a local low of $0.16 on June 22. In July, the altcoin was trading at $0.23. The digital coin has fallen 68% since its peak in May.
However, if we really hope for hype as a generator of growth, then the creators of DOGE should work among other billionaires. One of the contenders is the owner of the Dallas Mavericks basketball club, Mark Cuban. In March 2022, Cuban announced that his team would allow the purchase of game tickets, merchandise and food items with Dogecoin. And two days later he published a report that his franchise had become the largest seller of Dogecoin, having conducted more than 20 thousand transactions.
Dynamics of the cost of 1 Dogecoin in rubles
The maximum price of Dogecoin in rubles was recorded in January 2017. Then the coin exchange rate was 1 ruble. Compared to this value, the value of the cryptocurrency fell by 85%. But even today, with an active rollback of Dogincoins, the rate is significantly higher than the indicators from 2013 to 2016. Those who purchased coins during that period still remain in the black. Moreover, in the previous month, Dogecoins showed slight growth. Their price increased by 9%.
Thus, the Dogecoin cryptocurrency, the cost of which today is 0.15 rubles, is a good tool for making money. The price of Dogecoin is so low that almost every user can put a few hundred coins in their investment portfolio. Capitalization indicators clearly demonstrate an increase in demand for cryptocurrency, so in the future it is advisable to expect an increase in the rate.
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DOGE rate in rubles by day
To understand the situation that is currently happening with the DOGE cryptocurrency, let’s look at how the coin exchange rate has changed over the last month:
As you can see, on December 9, 2022, the DOGE rate was 0.13 rubles. Starting from December 17, we see a slight increase, which continued for 10 days. On the 27th, a slight pullback began. Over the past two weeks, the value of the cryptocurrency has decreased by 12%. But overall, the last month has shown positive dynamics.
How Dogecoin came to be
In 2013, Dogecoin (DOGE) was created by Portland programmer Billy Marcus and Adobe software engineer Jackson Palmer. The project was conceived as a joke amid the hype around the main coin of the digital world - Bitcoin, which in 2013 made several sharp price movements.
Marcus and Palmer created the new coin based on a popular Internet meme about a Shiba Inu dog at the time. The image of a dog appeared on the logo of the cryptocurrency and became its symbol.
Dogecoin was officially launched on December 6, 2013, and within the first 30 days, the project website received more than a million visitors. Dogecoin ran on the existing cryptocurrency Luckycoin, which in turn was based on Litecoin, which has its roots in BTC. Dogecoin mining uses the Proof-of-Work algorithm.
Rate 1 Dogecoin to other currencies
The trend in the Dogecoin rate relative to other financial assets looks different.
The cost of 1 Dogecoin coin today is 0.00000055927091 BTC. This is 80% less than the absolute maximum, which was recorded in January 2022 (0.00000284 BTC). If in relation to the ruble there is a weak upward trend, then in the case of Bitcoin, Dogecoin continues to fall. Over the past month, the price of the coin has fallen by 7.8%.
As for the dollar, today the price of 1 Dogecoin is 0.00224 USD. The absolute maximum was also recorded in January 2022 (0.01758 USD). In comparison, the price of the cryptocurrency fell by 87%. However, then there is a slight increase in Dogecoins (by 7.8%). The indicators, although meager, still give hope for further course correction.
DOGE/USD price history
- Last week
- Last month
- Last year
- Last two years
- Maximum
- Daily
- Weekly
- Monthly
| date | Closing | Change | Change(%) | Opening | Max. | Min. |
| Jan 13, 2022 | 0.16756 | 0.00525 | 3.23% | 0.16231 | 0.16871 | 0.16091 |
| Jan 12, 2022 | 0.16231 | 0.00900 | 5.87% | 0.15331 | 0.16304 | 0.14929 |
| Jan 11, 2022 | 0.15331 | 0.01078 | 7.56% | 0.14253 | 0.16606 | 0.14135 |
| Jan 10, 2022 | 0.14252 | -0.00752 | -5.01% | 0.15004 | 0.15158 | 0.13670 |
| Jan 9, 2022 | 0.15004 | -0.00085 | -0.56% | 0.15089 | 0.15370 | 0.14876 |
| Jan 8, 2022 | 0.15090 | -0.00405 | -2.61% | 0.15495 | 0.15777 | 0.14545 |
| Jan 7, 2022 | 0.15496 | -0.00514 | -3.21% | 0.16010 | 0.16032 | 0.14932 |
| Jan 6, 2022 | 0.16009 | 0.00113 | 0.71% | 0.15896 | 0.16200 | 0.15397 |
| Jan 5, 2022 | 0.15895 | -0.00948 | -5.63% | 0.16843 | 0.17078 | 0.14746 |
| Jan 4, 2022 | 0.16842 | -0.00189 | -1.11% | 0.17031 | 0.17246 | 0.16674 |
| Jan 3, 2022 | 0.17026 | -0.00426 | -2.44% | 0.17452 | 0.17452 | 0.16759 |
| Jan 2, 2022 | 0.17451 | 0.00194 | 1.12% | 0.17257 | 0.17572 | 0.17017 |
| Jan 1, 2022 | 0.17258 | 0.00289 | 1.70% | 0.16969 | 0.17312 | 0.16915 |
| Dec 31, 2021 | 0.16967 | -0.00088 | -0.52% | 0.17055 | 0.17506 | 0.16585 |
| Dec 30, 2021 | 0.17060 | 0.00328 | 1.96% | 0.16732 | 0.17508 | 0.16481 |
| Dec 29, 2021 | 0.16732 | -0.00607 | -3.50% | 0.17339 | 0.17675 | 0.16594 |
| Dec 28, 2021 | 0.17339 | -0.01393 | -7.44% | 0.18732 | 0.18732 | 0.17138 |
| Dec 27, 2021 | 0.18732 | -0.00210 | -1.11% | 0.18942 | 0.19214 | 0.18594 |
| Dec 26, 2021 | 0.18940 | -0.00086 | -0.45% | 0.19026 | 0.19179 | 0.18471 |
| Dec 25, 2021 | 0.19024 | 0.00455 | 2.45% | 0.18569 | 0.19444 | 0.18445 |
Like Luckycoin, the reward size for each block in Dogecoin was set randomly. In March 2014, this provision was changed and the size of the reward became fixed - 250 thousand DOGE.
It was initially planned that the issue size would be 100 billion DOGE, but it was later announced that the fee would be fixed for each block, but the total amount would be unlimited.
