What is Dogecoin (DOGE)? How Does it Work?

Dogecoin, which emerged from popular and well-established dog-themed content on the internet, has quickly become the leading trend in the memecoin space. In this article, you’ll find information on Dogecoin, including its definition, the meaning of “Doge,” how Dogecoin works, and its total supply.

What is Dogecoin?

Dogecoin (DOGE) is a cryptocurrency that features the Shiba Inu, a Japanese hunting dog, in its logo. It was created in 2013 as a “joke coin” or memecoin. Dogecoin was developed from a fork of the Litecoin blockchain and uses the Scrypt encryption algorithm, which is also used by Litecoin. This makes it easier to mine compared to Bitcoin, as blocks are verified in just one minute. Although Dogecoin is based on the Litecoin blockchain, its supply is unlimited.

What is the Supply of Dogecoin?

As of September 11, 2024, the total supply of DOGE stands at 145,909,706,384 coins, all of which are in circulation.

Is the Supply of Dogecoin Limited?

The total supply of Dogecoin is unlimited. Unlike Bitcoin, it does not have a fixed maximum supply.

How Is Dogecoin Mined?

Dogecoin can be mined using computer processors (CPU), graphics card processors (GPU), and high-powered ASIC mining devices. However, due to increasing difficulty levels, mining Dogecoin with a CPU or GPU is no longer profitable. If you have the necessary infrastructure and equipment, you can mine Dogecoin on your own, or you can join mining pools by contributing processing power to mine DOGE.

On the Dogecoin blockchain, with a block verification time of 1 minute, a block reward of 10,000 DOGE is distributed with each block.

Dogecoin White Paper

You can access the white paper for more detailed information about Dogecoin by clicking here.

How to Store Dogecoin?

You can use desktop, mobile, or hardware wallets that support the Dogechain blockchain to manage your Dogecoin (DOGE) balance.

How to Buy and Sell Dogecoin (DOGE)?

To buy and sell Dogecoin (DOGE) with Tether, you can use the BtcTurk | Global website. If you’re not a member of BtcTurk | Global, you can sign up on our website and start trading Dogecoin (DOGE) right away.