Dogecoin Valuation: Today’s Live DOGE Price, Market Capitalization, and Latest News

Exploring Dogecoin (DOGE)

Launched on December 6, 2013, Dogecoin is a playful cryptocurrency that originated from the viral “Doge” meme, featuring a Shiba Inu dog as its symbol.

Dogecoin was birthed as a branch of Litecoin, mirroring most of Litecoin’s technical specifications, such as the proof-of-work scrypt algorithm. The primary divergence lies in its branding and the decision to support a substantially higher number of coins.

Although initially set forth as a “joke currency,” Dogecoin’s vibrant community propelled it to substantial market capitalization, peaking at $60 million by the start of 2014. Dogecoin stood out with its accelerated production of coins, boasting 100 billion in existence by 2015 and an ongoing inflationary issuance system.

Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia are credited with developing Dogecoin. They sought to inject a lighthearted and expansive ethos into the cryptocurrency space. Outside of speculation, Dogecoin is extensively utilized within social media circles on platforms like Reddit and Twitter to reward quality content. Philanthropic and fundraising efforts are also a hallmark of the Dogecoin community.

No substantial updates have been made to Dogecoin since 2015, casting doubts on its ability to evolve alongside more contemporaneous blockchains like Ethereum. Despite boasting a laid-back and welcoming community, Dogecoin’s informality might hamper its competitive edge in a market that often favors professionalism.

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Purchasing Dogecoin

You can acquire Dogecoin on various centralized digital currency exchanges. Bitunix leads the pack for Dogecoin transactions, supporting a robust DOGE/USDT market with over $19 million in volume over the past day. Other notable exchanges include Binance and Gate.io.

Dogecoin’s Trading Activity

The last 24-hour trading volume of Dogecoin is $2.73 billion, marking a -31.30% shift and indicating a recent dip in market interactions.

The Peak Price of Dogecoin

Dogecoin’s peak valuation was reached on May 08, 2021, at BTC0.00001264, nearly 3 years prior. In comparison, its current value is -75.80% below this historical high.

The Lowest Price Point for Dogecoin

The bottom price of Dogecoin occurred on May 06, 2015, recorded at BTC0.0000001509, now 203,497.10% above this mark.

Market Capitalization of Dogecoin

The current market cap for Dogecoin stands at BTC387,275.0711, positioning it at #9 by market valuation according to CoinGecko. This figure is derived by multiplying the current price by Dogecoin’s circulating supply, which is 140 billion DOGE.

Full Dilution Valuation for Dogecoin

The fully diluted valuation of Dogecoin mirrors its market cap, currently at BTC387,275.0711, assuming the total 140 billion DOGE supply was in circulation.

Comparative Price Performance of Dogecoin

Dogecoin’s price trajectory reveals a -10.00% decline over the past week. This performance lags behind the broader cryptocurrency market, which has decreased by -6.70%, and also falls short when placed alongside its Proof of Work (PoW) contemporaries, which saw an average performance of 0.00%.