Dogecoin Reaches Market Cap of $23.34 Billion (DOGE)

Dogecoin (DOGE) traded up 7.3% against the dollar during the 1 day period ending at 15:00 PM Eastern on November 4th. Dogecoin has a market cap of $23.34 billion and $2.41 billion worth of Dogecoin was traded on exchanges in the last 24 hours. Over the last seven days, Dogecoin has traded down 0.8% against the dollar. One Dogecoin coin can now be bought for about $0.16 or 0.00000235 BTC on major cryptocurrency exchanges.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• UNUS SED LEO (LEO) traded up 0% against the dollar and now trades at $6.04 or 0.00008917 BTC.
• Litecoin (LTC) traded 0.3% lower against the dollar and now trades at $66.27 or 0.00097764 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• MegaCoin (MEC) traded down 2.2% against the dollar and now trades at $4.30 or 0.00015776 BTC.
• Polymath (POLY) traded 6.3% higher against the dollar and now trades at $0.0530 or 0.00000078 BTC.
• Lotto (LOTTO) traded 2.1% lower 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.

About Dogecoin

DOGE is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. Its launch date was December 6th, 2013. Dogecoin’s total supply is 146,654,746,384 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 possible to buy alternative cryptocurrencies such as Dogecoin directly using US dollars. Investors seeking to acquire Dogecoin should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Dogecoin using one of the aforementioned exchanges.

DOGE/USD price chart by TradingView