Current price is $0.2790 with a marketcap of $36.58 B. Its price is 1.72% up in last 24 hours.
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131.09 B DOGE
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¿What is Dogecoin?
People are continuously creating new memes for fun. Memes are everywhere. None can imagine that a cryptocurrency can be built based on a meme. But, it actually happened. On 6th December of the year 2013, a new cryptocurrency was officially introduced as a joke currency. This joke currency was called the Dogecoin.
Dogecoin comes from the internet meme Doge. They use a meme of Shiba Inu dog to represents its logo. At first, Dogecoin team was planning to produce 100 billion Dogecoins only. But later, they announced that there would be unlimited Dogecoin production. From then, every year they create 5.256 billion coins.
On the 19th December 2013, in 72 hours, the value of Dogecoin jumped almost 300 percent, rising from US$0.00026 to $0.00095. Soon after, Dogecoin developed its own online community quickly. In January 2014, its market capitalization reached to the value of US$ 60 million. The market capitalization became US$ 13.5 million on the 25th January 2014.
Features of Dogecoin
- Dogecoin is a gateway to the cryptocurrency industry.
- It provides its users with faster and higher volume transaction on its platform.
- It reduces the transaction fees compared to the traditional Bitcoin model.
- Dogecoin comes with the increased liquidity.
- It allows the widespread adoption of the currency.
Technology Behond Dogecoin
Dogecoin technology is mainly based on Luckycoin. Luckycoin was created based on Litecoin blockchain. So, basically, the main technology behind the Dogecoin is the Litecoin blockchain technology. Its ledger uses the consensus mechanism of proof-of-work protocol. It validates the transaction on its blockchain. It also uses the scrypt hashing function.
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