Dogecoin Price Today

The current real-time Dogecoin price is $0.34 . DOGE price has grew by 12.17% in the last day and decreased by 16.81% in the last seven days. It’s important to note that the current Dogecoin market capitalization is $50,058,535,554. The maximum supply is coins, with a circulating supply of 147,290,146,384.00. DOGE is ranked #7 in terms of market cap.

Dogecoin In A Nutshell

Dogecoin (DOGE) is the world's oldest and most popular meme coin. The asset was released in 2013 by IBM employee Billy Markus and Adobe software engineer Jackson Palmer. Dogecoin was released partially as a joke, taking its imagery from a popular internet meme featuring a Shiba Inu dog.

The core purpose of Dogecoin is to be a payment system and tipping currency thanks to its fast settlement times and low transaction costs. 

How Dogecoin Works Explained

Despite initially being created as a joke, Dogecoin has cemented itself as a low-cost payment system that excels in smaller transactions due to its low costs and unit size. Learn more about what Dogecoin is & how it works. 

Dogecoin was created by forking Lucky Coin, a Litecoin fork, which itself is a fork of Bitcoin. As such, Dogecoin inherited several benefits of Litecoin, including using the Scrypt Proof-of-Work (PoW) consensus mechanism, a one-minute block time, and the ability to handle larger block sizes. It offers several benefits over Bitcoin, including lower cost and settlement time. 

Price History of Dogecoin

Dogecoin struggled to gain traction following its release, with early investors focused more on utility-centric cryptocurrencies. Despite this, there was some demand for DOGE, causing the asset to rise from a 2013 launch price of $0.00026 to $0.001 by early 2014. 

The asset was volatile in the years following but surged in 2017, hitting $0.004. DOGE struggled to find footing until 2021, when the Reddit WallStreetBets community set its sights on the asset, causing a significant rally to $0.00923. Following the bull run and Elon Musk posting about Dogecoin on social media, the asset went parabolic, climbing to $0.6878 by August 2021. 

Since DOGE's Musk-fueled rally, the asset has fallen substantially and struggled to maintain its key support zones. By the end of 2021, DOGE fell to $0.07598. As the bear market ushered in, its woes continued, with DOGE trading between $0.05878 and $0.0827. 

This year, DOGE has regained some strength, briefly rising to $0.22 in March, a 274% increase since December 2023. Today, DOGE trades for around $0.13. 

What Makes Dogecoin Unique

While it's easy to bundle Dogecoin together with other popular meme coins like Shiba Inu, many factors make the asset unique. 

The asset was first released in 2013, making it the oldest memecoin on the market. Dogecoin utilizes Litecoin's Scrypt mining algorithm as opposed to Bitcoin's SHA-256. Additionally, while Dogecoin is an inflationary cryptocurrency with no maximum supply, its developers have introduced a 5 billion token annual cap on new tokens added to the circulating supply. 

Circulating Dogecoin Supply

Dogecoin is a Proof-of-Work (PoW) cryptocurrency project, meaning that as rewards are distributed to miners in return for validating transactions, the circulating supply of DOGE will increase. Presently, there are 147,290,146,384.00 DOGE in circulation, but with an unlimited maximum supply, we will see this figure increase steadily. 

The project's founders initially released DOGE with a fixed maximum supply of 100 million tokens. However, the developers removed this limit, allowing new DOGE to be created. To slow inflation, the development team has introduced a limit on the amount of DOGE that can be minted yearly, meaning a maximum of 5 billion new DOGE will enter circulation. 

Where To Buy Dogecoin

Dogecoin is the eighth-largest cryptocurrency by market cap, meaning that the asset is widely available on crypto exchanges that offer a good selection of altcoins, like Bybit, Kraken, and KuCoin. Alternatively, investors could use a Decentralized Exchange (DEX) to swap ETH or another ERC token for DOGE.