Dogecoin (DOGE) Price Down 23.7% This Week

Dogecoin (DOGE) traded up 4.8% against the US dollar during the one day period ending at 22:00 PM E.T. on August 5th. One Dogecoin coin can currently be purchased for about $0.0986 or 0.00000177 BTC on popular cryptocurrency exchanges. Dogecoin has a market capitalization of $14.34 billion and approximately $2.94 billion worth of Dogecoin was traded on exchanges in the last 24 hours. In the last week, Dogecoin has traded down 23.7% against the US dollar.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

• UNUS SED LEO (LEO) traded 0.5% higher against the dollar and now trades at $5.70 or 0.00010232 BTC.
• Litecoin (LTC) traded up 2.3% against the dollar and now trades at $57.98 or 0.00104155 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• MegaCoin (MEC) traded down 2.2% against the dollar and now trades at $4.30 or 0.00015776 BTC.
• Polymath (POLY) traded up 8.7% against the dollar and now trades at $0.11 or 0.00000189 BTC.
• Lotto (LOTTO) traded 2.1% lower against the dollar and now trades at $0.0005 or 0.00000002 BTC.
• DEI (DEI) traded 2.5% lower against the dollar and now trades at $0.0129 or 0.00000020 BTC.

About Dogecoin

Dogecoin (CRYPTO:DOGE) is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. Its genesis date was December 6th, 2013. Dogecoin’s total supply is 145,415,626,384 coins. Dogecoin’s official website is dogecoin.com. Dogecoin’s official Twitter account is @dogecoin and its Facebook page is accessible here. The Reddit community for Dogecoin is https://reddit.com/r/dogecoin and the currency’s Github account can be viewed here.

According to CryptoCompare, “Dogecoin (DOGE) is a cryptocurrency that was created in 2013 inspired by the Shiba Inu dog meme. It uses underlying technology from Litecoin and has a large circulating supply of 132 billion DOGE. It was initially created as a joke but has gained value due to supply and demand, and has been accepted by large retailers such as Tesla as a payment method. It was created by Jackson Palmer and Billy Markus and uses Litecoin’s Scrypt mining algorithm and is a Proof-of-Work cryptocurrency that can be merged mined with Litecoin. The value of DOGE has increased due to speculation about its potential adoption by products and services from companies owned by Elon Musk, such as Tesla and Twitter.”

Buying and Selling Dogecoin

It is usually not possible to buy alternative cryptocurrencies such as Dogecoin directly using U.S. dollars. Investors seeking to trade Dogecoin should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Dogecoin using one of the aforementioned exchanges.

DOGE/USD price chart by TradingView