Dogecoin (DOGE) Reaches Market Cap of $23.85 Billion

Dogecoin (DOGE) traded down 3.4% against the dollar during the one day period ending at 15:00 PM E.T. on October 31st. Dogecoin has a market cap of $23.85 billion and $2.05 billion worth of Dogecoin was traded on exchanges in the last day. One Dogecoin coin can now be purchased for $0.16 or 0.00000231 BTC on exchanges. During the last week, Dogecoin has traded 14.6% higher against the dollar.

Here is how similar cryptocurrencies have performed during the last day:

• UNUS SED LEO (LEO) traded 0% lower against the dollar and now trades at $6.05 or 0.00008612 BTC.
• Litecoin (LTC) traded 4.1% lower against the dollar and now trades at $69.04 or 0.00098213 BTC.
• NyanCoin (NYAN) traded down 2.2% 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 5.6% against the dollar and now trades at $0.0537 or 0.00000076 BTC.
• Lotto (LOTTO) traded down 2.1% 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.

Dogecoin 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 146,600,026,384 coins. The Reddit community for Dogecoin is https://reddit.com/r/dogecoin and the currency’s Github account can be viewed here. Dogecoin’s official website 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.”

Dogecoin Coin Trading

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

DOGE/USD price chart by TradingView