Dogecoin (DOGE) Market Cap Reaches $14.31 Billion

Dogecoin (DOGE) traded 0.4% lower against the US dollar during the 1-day period ending at 8:00 AM ET on August 24th. One Dogecoin coin can currently be purchased for about $0.0920 or 0.00000117 BTC on exchanges. In the last week, Dogecoin has traded 31.2% higher against the US dollar. Dogecoin has a total market cap of $14.31 billion and approximately $1.18 billion worth of Dogecoin was traded on exchanges in the last 24 hours.

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

• UNUS SED LEO (LEO) traded down 1% against the dollar and now trades at $9.38 or 0.00011962 BTC.
• Litecoin (LTC) traded up 1.1% against the dollar and now trades at $52.86 or 0.00067422 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• MegaCoin (MEC) traded 2.2% lower against the dollar and now trades at $4.30 or 0.00015776 BTC.
• Polymath (POLY) traded down 5% against the dollar and now trades at $0.0096 or 0.00000012 BTC.
• Lotto (LOTTO) traded 2.1% lower against the dollar and now trades at $0.0005 or 0.00000002 BTC.
• DEI (DEI) traded down 2.5% against the dollar and now trades at $0.0129 or 0.00000020 BTC.

Dogecoin Coin Profile

DOGE is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. It launched on December 6th, 2013. Dogecoin’s total supply is 155,625,346,384 coins. The Reddit community for Dogecoin is https://reddit.com/r/dogecoin and the currency’s Github account can be viewed here. The official website for Dogecoin is dogecoin.com. Dogecoin’s official Twitter account is @dogecoin and its Facebook page is accessible here.

According to CryptoCompare, “Dogecoin (DOGE) is an open-source, peer-to-peer cryptocurrency launched in December 2013 by Billy Markus and Jackson Palmer. Initially created as a joke based on the “Doge” meme featuring a Shiba Inu named Kabosu, it quickly grew in popularity. Dogecoin runs on a decentralised blockchain, using Proof-of-Work (PoW) and the Scrypt algorithm, making it less energy-intensive than Bitcoin. Its key uses include tipping content creators, donations, and payments for goods and services. The community is known for its charitable initiatives, such as supporting the Jamaican bobsled team and clean water projects. Despite its humorous origins, Dogecoin has developed a strong community and growing ecosystem, with ongoing development by the Dogecoin Core team and governance provided by the Dogecoin Foundation. There is no maximum supply, and miners earn 10,000 DOGE per minute, encouraging frequent usage rather than holding. Dogecoin remains a unique digital asset with widespread community support.”

Buying and Selling Dogecoin

It is usually not presently 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 Gemini, GDAX 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