First the Dogecoin CEO, then Dogefather, and now is Elon Musk Chairman of Dogecoin? Let’s quickly review the news to avoid confusion and check if you should be concerned. How Did It Start? Elon Musk has been dubbed “CEO of Dogecoin” after a joke tweet with a poll went viral in 2019. The joke is, […]
First the Dogecoin CEO, then Dogefather, and now is Elon Musk Chairman of Dogecoin? Let’s quickly review the news to avoid confusion and check if you should be concerned.
How Did It Start?
Elon Musk has been dubbed “CEO of Dogecoin” after a joke tweet with a poll went viral in 2019. The joke is, Dogecoin is decentralized, so this title would mean nothing. Along with him, the candidates included Vitalik Buterin, Charlie Lee and Marshall Hayner. After that, Musk himself went on record admitting that he finds Dogecoin “pretty cool”. Fast forward to 2020, more and more tweets mentioning the Doge meme or Dogecoin outright appeared on Musk’s Twitter feed. By that time, it was known that he is a holder and supporter of this meme currency.
While the first tweet does not even remotely mention Dogecoin, users and crypto news outlets did not ignore it. Why is that? The text quotes an ancient Chinese poem about a rivalry between two brothers. One of them became king and had the other write this poem to assert his innocence. The gist of the poem is why should siblings fight, basically. Some of the users, while trying to wrap their heads around the meaning of the post, decided it alludes to the Dogecoin and Shiba Inu’s rivalry.
Then, co-creator of Dogecoin Billy Markus held an annual “election” for the candidate for “fake Dogecoin CEO” — as a joke, of course. As the first one to be appointed to the title, Elon Musk did not stay on the sidelines and volunteered to take the “seat”. While he was not awarded the faux CEO status, beaten by Kabosu herself, Markus made Elon Musk chairman of Dogecoin — again, for laughs only.
Did Dogecoin and SHIB Prices React?
At the time of writing, Dogecoin and Shiba Inu are sharing 9th and 10th places in the market cap rating, respectively. It seems the tweets did not influence the trends that were dictating the price movement of dog coins. Dogecoin is down 2.03% in 24 hours. Incidentally with the first tweet, DOGE went down 1.05% and 0.5% the next hour. At the time of publishing the second tweet, DOGE price went up 1.02% and then down 0.76%. Shiba Inu is down 7.78% in 24 hours. After the first tweet, SHIB price went down 1.40% and then -1.27%.
The days when a single cryptic tweet by Elon Musk could move the markets of cryptocurrencies seem to be over. Nonetheless, the users try to connect each post and the news report on each, even not serious, post. Keep an eye on our blog for the crypto news and digests. We are on social media: Twitter, Facebook, Reddit and in Telegram, where regular updates are posted daily.
Just last week, meme tokens were taking the market by storm, much to the surprise of everyone. Crypto market is truly the people’s market, and people want some fun and memes! In this guide, we explain: what are meme coins? Which ones are the most popular? Oh, and why you should probably stop and think […]
Just last week, meme tokens were taking the market by storm, much to the surprise of everyone. Crypto market is truly the people’s market, and people want some fun and memes!
In this guide, we explain: what are meme coins? Which ones are the most popular? Oh, and why you should probably stop and think before rushing head-first all-in into them.
What are meme coins?
What are meme coins? A “meme coin” is usually a coin or token, the brand of which is based on an Internet meme. Some other characteristics of them may include being community-driven, not having significant developer activity and reliance on viral marketing. Meme coins are not inherently harmful but they do come with some things to watch out for, which we will talk about.
How did the trend start?
What are meme coins’ beginnings? Few can argue with the fact that Dogecoin was the first true meme coin. It started as a joke, it gained popularity thanks to the meme it was based on.
Doge was everywhere over the Internet in 2014, so it was only natural that the Internet money that used it as a symbol would take off. Another big meme coin of that era is Monacoin which uses a cat as a mascot but it is not too popular outside of Japan.
How can someone issue a meme token?
Issuing new meme coins today is easy — you only need as little as an idea. Back in 2014, Dogecoin creator Jackson Palmer had to find someone to code the protocol for him (that was Billy Marcus).
So what are meme coins made with? Some wallets and services allow you to create an ERC-20 or BEP-20 token in the app. Other services even offer it for free. What is more difficult is making them stick around.
To do so you need something more than the name and specifications. Some users stay with meme coins because they offer a potentially usable protocol. Others, like Dogecoin, nurtured a close-knit and welcoming community.
Top meme coins
What are meme coins at the top today? Let’s see this list of meme coins sorted by the ones with most capitalization first.
The father of all meme coins, Dogecoin is a fork of Luckycoin, which is a fork of Litecoin, which is a fork of Bitcoin. It’s forks all the way down! But jokes aside, it’s a cryptocurrency with an uncapped supply, which is merge mined with Litecoin. Merge mining means that miners secure both networks and receive rewards from both.
The Dogecoin community is known for several grand fundraisers, like the Nascar racing car or Jamaican bobsled team. In their own words, DOGE stands for “do only good everyday”. More about the origins of DOGE and its community you can find in our Guide to Dogecoin.
If this chart got you asking, “is Dogecoin for real?”, don’t worry, us too. 2021 has been crazy for Dogecoin, to say the least. The “penny parity” long-running inside joke had to be retired for obvious reasons. The next stop for DOGE fans is $1 — and then to the Moon!
Or not. The extreme volatility of the coin was surely a test for old and new holders alike. Thanks to the approachability of the coin and the fact that Elon Musk kept hyping it up, it’s been a ride. However, aside from the community, there is little to nothing ensuring the value of DOGE yet.
And yet, it keeps climbing the chart. Not long ago, on May 8, DOGE price renewed its ATH: $0.7376.
Shiba Inu (SHIB)
However, a more infamous now hero of the dog coin craze is an asset called SHIB. It was supposed to be only a part of a DeFi system of interconnected apps: ShibaSwap, SHIB-based liquidity mining with NFTs and more. It just so happened that it was brought down as quickly as it flew.
It is no coincidence that the chart of SHIB looks very similar to DOGE. Users who were looking for more obscure altcoins made the connection and found Shiba Inu, which was even easier to get into than Dogecoin. Then its price skyrocketed from all the demand up to $0.0000388 on May 10.
But here is the catch: while the devs locked 50% away into a Uniswap liquidity pool, the other 50% were sent to Vitalik Buterin’s address (unasked for). The assumption was, as it’s written in the WoofPaper, “as long as Vitalik does not dump on us”, these assets were as good as burnt. But Buterin donated 50 trillion SHIB (about $1.2B at the time) to an India COVID-19 relief fund. The other 410B SHIB were essentially burnt, while he made it clear he never wanted to have that kind of power.
What are meme coins that were not spawned by Dogecoin? A more or less serious project among the dog tokens is SAFEMOON. It is considered a meme coin for different reasons: firstly, the name, which obviously comes from “to the Moon” meme. Secondly, the project is heavily community-driven, and relies on viral and guerilla marketing for exposure and adoption.
SafeMoon also offers a Binance Smart Chain DeFi protocol for auto-liquidity generation and potentially an NFT marketplace. Token burns ensure the supply does not get bloated and devalues.
The meme token rose to prominence thanks to a meteoric rise by 6000% in a month. Mostly this had to do with the popularity of Binance Smart Chain tokens. The current highest price of SAFEMOON is $0.00001399, and today (at the time of writing) its price is $0.000005639, -57.80% of that.
HOGE is a more recent invention, a hybrid of the emerged meme token trend and the DeFi boom. Not only is it a deflationary coin but also it can be used for staking and NFTs. Their whole pitch is “Doge but DeFi” but there is obviously more to this meme token.
Like DOGE, though, it has seen some crazy volatility in 2021 so far. Its historical maximum came up to $0.0008981 on March 15. Only a couple of weeks later, on March 29, it bottomed at $0.0001296. Now the HOGE price is $0.0004446, 243% up from the local bottom but 50% down from the ATH.
Another token that proves you only need an idea to launch one is ELON. How about a cross between DOGE and Elon Musk’s aspirations to Mars travel? Just like that, the token is there!
There is some thought put into it, though. In the token’s manifesto of sorts, the creators pledged to help the victims of rug pulls and scams.
Uniswap made launching meme tokens pretty easy: Dogelon creators did not have to seek a market for long. The coin rose from zero to $0.000002286 (May 12) in about a couple of weeks.
ELON was the victim of the same ordeal with Vitalik Buterin as they used the very same “tokenomics” as Shiba Inu. This is why it tanked so abruptly on May 12, when Buterin started moving the 50% of the supply allocated to him. Moreover, with Elon Musk criticizing Bitcoin’s energy consumption and stopping Tesla purchases, the whole appeal of the token dissolved.
What to keep in mind with meme coins?
What are meme coins’ issues? We glanced over some of them already but it wouldn’t hurt to sum them up:
Meme value over actual value. Most of these tokens latch onto catchy ideas rather than try to create a meaningful and future-proof project. Most of these projects barely have any developers contributing to the protocol;
At least two of the projects we mentioned had 50% of the total supply be sent to Vitalik Buterin. No one expected he would move and sell them, which he could and he did. The proceeds did go to charities, and later Vitalik burned 90% of his SHIB tokens. This was still a lesson that token buyers should do research and have an understanding of who has power over an asset;
Lack of legitimate use cases. Some of the coins claim to be DeFi oriented but their protocols are nowhere near competitive. Other coins are barely used as a currency, like Dogecoin;
Extreme volatility. Most of meme coins are low-capitalization assets for the reasons stated above. Even a modestly large order can move the markets and cause either a meteoric rise or a dump of the same magnitude. Exercise caution when dealing with such assets in general.
But what are meme coins good for? It’s not like they do not deserve to exist at all. People who come into crypto want to have a community that supports itself and maybe to have some fun. Who are we to judge? Just have fun responsibly and know what you’re getting yourself into.
Enjoyed this coverage? We have more content about news, trends and projects of the crypto world in our blog. Our team is also providing riveting content on Twitter, subreddit, Facebook and Telegram — check those out, too!
Crypto community’s beloved original meme coin has had a crazy year so far: rise by thousand percent, return of the developers. In this updated Dogecoin price prediction 2021 and 2022 by the ChangeHero team, we try to see what opinions there are about the future of DOGE. Dogecoin Price Prediction 2021–2030 Year Price 2021 $0.19–1 […]
Crypto community’s beloved original meme coin has had a crazy year so far: rise by thousand percent, return of the developers. In this updated Dogecoin price prediction 2021 and 2022 by the ChangeHero team, we try to see what opinions there are about the future of DOGE.
Dogecoin Price Prediction 2021–2030
A short-term Dogecoin price prediction 2021 mentions the coveted $1 target but generally these agree that the price will be the same or lower;
As for Dogecoin price prediction 2022, the opening price might be lower than currently — $0.17 — but ultimately can bring profits rising to $0.284;
Different predictions claim $1 for DOGE is reachable but the years are different: in 2021, by 2025 or even only in 2030. Different Dogecoin predictions for that year actually give a range of $1 up to $8.
What is Dogecoin?
Dogecoin (DOGE) is a cryptocurrency, built on Luckycoin (a fork of Litecoin) code. It started as a joke in 2013 but became popular thanks to the Doge meme. Dogecoin is a Proof-of-Work cryptocurrency, meaning that it is propagated and secured by mining. Dogecoin is merge-mined with Litecoin, using the same hashing algorithm Scrypt. Dogecoin circa 2014 found its niche in tipping. Over the years, the meme went out of the spotlight and initial developers abandoned the project. Dogecoin stayed afloat thanks to the people that formed one of the most welcoming and devoted communities in crypto. You can read more about Dogecoin in our beginner’s guide.
Dogecoin Price History
2013 – 2016
The Dogecoin price journey can be divided into several periods. The peak soon after the launch on December 6, 2013 can be explained by the coin’s novelty, meme value and a concrete use case. Back then, its value quickly rose to 228 satoshis or $0.001964 from a starting price of $0.000603. Soon after the pump receded, things started to look grim for Dogecoin. Prior to 2017, its value used to grind against fourth-place decimals of a dollar for years. A pump in early 2016 took the price up from $0.0001481 to $0.0004551, but it didn’t last for long. On average, the DOGE price in 2016 and 2017 was a bit higher than in the two previous years. It can be interpreted as a sign of Dogecoin somewhat solidifying its positions.
2017 was a year that changed a lot for cryptocurrencies, including Dogecoin. With more listings and rising interest in the whole market, Dogecoin got involved in more trading. Its price spectacularly soared in sync with Bitcoin in early 2018 to $0,018773 USD. The opening price for 2017 was $0,000223 USD, and the closing — $0,008972, an increase of 4000%. This would not be the last time Dogecoin price followed BTC’s, like in August of the same year. In 2018, DOGE established a consistent price range around $0.002–$0.003.
Since mid-2019, Dogecoin has been trading sideways, while still under the influence of general market trends (bullish rally and crash in March 2020, for example). Time and time again, experts expected the accumulation trend to resolve in a new pump. The first time their predictions came true seemed to be in July, 2020. However, this was not a result of some technical or fundamental change. Dogecoin just became really popular with Investing TikTok, a slew of the viral video app user base dabbling in stocks. DOGE doubled in price to $0.00448, and after returning to the old range near $0.003, Dogecoin rose to that high again only at the close of 2020. In 2021, though, Dogecoin went up in a way that can only be described as vertical. First, DOGE was influenced by the Bitcoin rally (again) and rose to $0.012 in January. Around the same time, billionaire Elon Musk started mentioning Dogecoin more often than ever. He would sporadically tweet about Dogecoin in 2019 and 2020, but the frequency of posts led everyone to believe he shills the coin. By February, Dogecoin was picked up by the WallStreetBets movement to previously unseen heights. Dogecoin renewed its ATH seemingly every month, until it reached its peak at $0.7376 on May 8, 2021. The correction that followed was as rapid as the ascent but even now DOGE is trading for 4550% more than at the very start of 2021. At the time of writing, Dogecoin ranks 10th by market capitalization. A single DOGE is worth exactly 1 DOGE… or $0.2134, if we’re being serious.
What Can Influence the DOGE Price?
Popularity on the Internet
Time and time again, Dogecoin is remembered for what it is: an approachable and accessible altcoin. The meme origin also helps build the image detached from the stereotypical stock and cryptocurrencies, making it even more approachable. The TikTok and WSB pumps picked DOGE up for these reasons exactly. This factor is by no means fundamental but history shows it surely makes an influence on the price. Not to mention that in early 2021, Dogecoin would be frequently mentioned by Elon Musk. Eventually, his tweets lost the effect that sent the DOGE price flying and even had the opposite effect on several occasions.
Increasing Market Exposure
The trading volume has increased significantly during the last two years. More exposure means both more opportunities to buy the coin and more awareness. DOGE pairs are dominated by crypto pairs, which used to be a problem, since it wasn’t easy to purchase DOGE with fiat. These days, your best option is to buy Dogecoin with BTC and USDT, and stablecoins are accommodating capital at an avalanche-like rate. Dogecoin trading massively boosted the revenues of Robinhood brokerage this year at highs. However, the broker is introducing crypto withdrawal only now, and has a history of halting trading during peak volatility.
If we are talking about mainstream adoption outside the crypto market, Dogecoin is doing well. According to the statistics provided by Cryptwerk, the number of merchants and payment gateways that accept it is steadily growing. At the moment, there are 1,700 points of purchase where you can buy goods and services with DOGE registered with Cryptwerk. A year ago, there was less than half of that. Dogecoin is supported by as many as 27 payment gateways, the largest being CoinPayments and CoinGate.
Since 2018, the developer activity on Dogecoin repository has been rare, if not nonexistent. That is, until early 2021, when devs started working on the code again and released two new versions so far. Following the devs, Dogecoin Foundation was also reestablished with community veterans at helm to drive awareness and adoption. Max Keller, Vitalik Buterin, Billy Markus and even Elon Musk were invited on board as advisors, though the latter is represented by Jared Birchall.
Thoughts from Influencers
Personally, I hope that doge can switch to PoS soon, perhaps using ethereum code. I also hope they don’t cancel the 5b/year annual PoW issuance, instead they put it in some kind of DAO that funds global public goods. Would fit well with dogecoin’s non-greedy wholesome ethos.
Ethereum co-founder Vitalik Buterin in an impromptu Twitter AMA session proposed an idea of transition to Proof-of-Stake. With the renewed development activity and re-founded Dogecoin Foundation, ideas like these can well become reality.
AMC Theatres started accepting cryptocurrency payments but it seems like Dogecoin is not on the list. This confused many community members and allies as this coin is much better suited for daily payments than, say, Bitcoin.
YouTube channel HueFin News gives an analysis of Dogecoin price chart without bias: there is a clear downtrend going on right now. However, as always, this is not a reason to stop trading and watching the market. They put a crucial support level at 19 cents, and if 20 cents is held, sideways action can be expected. The resistance level at 26 cents can be broken at any time, though, and that would signal the reversal they mention in the video title.
CryptoNewsZ Dogecoin Prediction 2021: $1
CryptoNewsZ analyst David Cox is sure that DOGE can push through $1 by the end of 2021. More precisely, the strongest resistance will be met at $1.07 and the low on the downside will move to $0.91.
Algorithmic forecast service WalletInvestor is pretty vague on the target for closing 2021. The lower bound of range is a little lower than now at $0.23 but the upper bound is only slightly more at $0.343.
Gov.capital’s algorithmic projections suggest that in a year from now, the DOGE price will be approximately 40% higher than now. On the charts, they expect a bounce similar to the mid-2021 price movement. At the peak in May, Dogecoin can reach $0.47 on average.
As is typical for Dogecoin, Long Forecast claims that volatility will keep being a factor in the DOGE price. After slumping for a while, in 2024 real profits will start coming in: lows will move above $0.3 and highs will reach $0.5.
Based on historical data, DigitalCoinPrice predicts that Dogecoin will be worth $0.6268 on average in 2025. Highest monthly average price is expected at $0.7342 in April, while the lowest average can be expected in May: $0.5563.
Economy Watch DOGE Price Prediction: $1
Economy Watch writer and analyst Connor Brooke gives a rough target at $1. This would take a 272% increase in current price but given how DOGE pulled off much larger strides, this is very easy.
CryptoGround DOGE Forecast: $0.6347
Algorithm of CryptoGround does not usually include volatility in the picture and operates with averages. As a result, in their projections, DOGE will accumulate enough value to be worth $0.6347 in 2025.
Dogecoin Price Prediction 2030
As for the distant future, not many analysts feel up to the task. Using existing price data, Coin Price Forecast tries to predict that DOGE will meet strong resistance at $1 and hover around it. More specifically, by mid-2030 DOGE will be worth $0.94 and by the end of it — to $0.98. A more bullish scenario is painted by PricePrediction.net, in which they give a range of $6.48 and $8 for DOGE in 2030. Given the time period and DOGE’s potential, this is far from far-fetched.
ChangeHero’s Dogecoin Forecast
In the words of Messari’s Ryan Selkis, “Dogecoin will continue to rock because legends never die”. It started as a meme and quickly became a gateway currency for the crypto-curious, celebrated for its light-hearted community. 2021 brought Dogecoin developers and Dogecoin Foundation back into the picture, so now holders can expect more news. It may not be this year, but in 2022 and forward Dogecoin can be back into the spotlight as more than a meme coin.
How to buy Dogecoin with ChangeHero?
Before you buy DOGE, make sure to find the best online Dogecoin wallet to receive the purchase. We can recommend Exodus, where you can make the purchase right in the app thanks to ChangeHero integration. The fastest and easiest way to get Dogecoin is to swap it with other cryptocurrencies on ChangeHero:
Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
As soon as the exchange has been processed, your DOGE is on the way to your wallet.
ChangeHero’s customer support is available 24/7 in the chat on the website or through the email: [email protected].
Dogecoin made shocking strides in price thanks to being embraced by retail investors. With a meme stock fad dying out, Dogecoin will have to suck up the blow to the price and start building value. Stay tuned to more content in our blog and our updates on Twitter, Facebook, in Telegram or the subreddit!
Frequently Asked Questions
[sc_fs_multi_faq headline-0=”h4″ question-0=”What will Dogecoin be worth by 2022?” answer-0=”Different sources put Dogecoin 2022 targets in a range between $0.17 and 0.5.” image-0=”” headline-1=”h4″ question-1=”What will Dogecoin be worth by 2025?” answer-1=”Some analysts predict Dogecoin will rise in value up to $1. Lowest estimate for DOGE in 2025 is put at $0.5563.” image-1=”” headline-2=”h4″ question-2=”What will Dogecoin be worth by 2030?” answer-2=”As such long-term forecasts are imprecise, the targets given for Dogecoin in 2030 vary from $1 to $8.” image-2=”” headline-3=”h4″ question-3=”Can Dogecoin hit $1?” answer-3=”Opinions are very divided on this question. Those who believe DOGE can hit $1, give different time estimates, from as soon as in 2021 to only in 2030.” image-3=”” headline-4=”h4″ question-4=”What is the future of Dogecoin?” answer-4=”With the Dogecoin repository and Foundation revived, the community has more than enough reasons to believe the future of Dogecoin is as secure as ever.” image-4=”” count=”5″ html=”true” css_class=””]
This article is not a piece of financial advice. No price prediction is guaranteed to provide exact information on the future price. When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.
Dogecoin is most known for featuring Shiba-Inu named Kabosu of Doge meme fame as a mascot. But did you know that this is by far not the only awesome thing about it? In this introduction guide, ChangeHero is going to tell you everything about this coin and what makes it viable to this day. Such […]
Dogecoin is most known for featuring Shiba-Inu named Kabosu of Doge meme fame as a mascot. But did you know that this is by far not the only awesome thing about it? In this introduction guide, ChangeHero is going to tell you everything about this coin and what makes it viable to this day.
Such Currency: What is Dogecoin?
Dogecoin is a coin built using Litecoin open source code (which is, in turn, is built using Bitcoin source code). Its blockchain is only slightly tweaked in comparison to the original: the block time is even faster, around 1 minute, and the total supply of Dogecoin is not capped but minted at a constant pace, which makes it a soft-deflationary currency. A successfully solved block yields 10,000 DOGE.
So History: Dogecoin Beginnings
The story behind Dogecoin is worthy of being in the Internet historical records. The year is 2013. Bitcoin is making the news, and many alternative currencies spring up. Doge is taking over Reddit, Tumblr and the Internet in general. From this chaotic thought space, one day, a Twitter post is born:
The man is Jackson Palmer, at the time marketing manager at Adobe Systems in Sydney. While he made the tweet quite absent-mindedly, it was met with support and encouragement. A week later, when in Palmer’s own words, he had “too much time on his hands”, he bought the domain Dogecoin.com and made a site entirely in Doge aesthetic for his yet non-existent currency. This site was soon found by Billy Markus, who was struggling with making his own cryptocurrency at the time. He knew that he had the skills to make Dogecoin real, so he reached out to Palmer, and just a few days later, on December 6, 2013, Dogecoin was launched.
The phenomenal success of Dogecoin in 2014 would not have been possible without Doge meme being so universally beloved. It is absurd yet understandable and recognizable at the same time. In 2012 the format originated on Shiba Confessions Tumblr, was picked up first by Reddit and then, by the rest of the Internet, apparently — because it was everywhere.
The best thing about Dogecoin that keeps it going to this day is the community. Perhaps the fact that DOGE from the very start did not position itself as something serious helped build an enthusiastic community and attract people that might have been daunted by the general discourse around Bitcoin and other altcoins.
The core of their activity has always been Reddit. This makes sense, considering the popularity of the meme there in 2013 and a while after that. It’s not just about being “friendly” and the buzz on social media. The Dogecoin community have been on record raising money for charitable causes quite a few times. One of the better known successful fundraisers was to sponsor a NASCAR driver Josh Wise, but in addition to that they raised money to sponsor Jamaican bobsled team so they could travel to compete in the Sochi Olympics, and there was a joint campaign with Charity: Water, which successfully raised 40 million DOGE (or $30,000 USD at the time). Other notable members and supporters of the community include Elon Musk and Eric Nakagawa, who used to run Dogecoin Foundation and is now working as head of open-source in Calibra.
Much Sources: How to Get Dogecoin
Many Dogecoin community members admit that DOGE was their first cryptocurrency to own and served as a gateway to the whole crypto biz. How can one join the bandwagon, you ask?
Dogecoin uses the same scrypt hashing algorithm as in Litecoin. For the longest time, just like in Litecoin, it was accessible, and CPU/GPU mining was somewhat profitable. Community members give advice that these days if you don’t have access to a miner pool or really powerful hardware, it is better to give a shot to some other ways. Unlike some other PoW blockchains that use the deflationary model and regularly cut miner rewards, Dogecoin will always have a steady supply increase of 5.256 billion coins a year and always yield 10,000 DOGE as a reward. This is a design choice to ensure that there will always be enough coins to account for the new users and to actually discourage hoarding DOGE in favor of putting it to use.
A water bowl, or a faucet, works in a simple way: users provide their address, and at a fixed time interval a faucet sends out to all the recipients small amounts of currency. The faucets that are approved by the Dogecoin community run on donations. This is also not the fastest way to earn but at least it requires very little effort.
Buying on exchanges
European Union has a few services that can help with buying DOGE with EUR: Litebit, Anycoin Direct, Belgacoin.com. Fiat pairs with DOGE can be found on Kraken exchange. If you come from somewhere else in the world, you can always buy any cryptocurrency, for example, Litecoin, at an exchange operating in your country or with your fiat currency of choice first and exchange it to DOGE later. ChangeHero can help you with that, making it simple and fast, without any sign-ups.
Get tipped or paid
Finally, there are a couple more ways to earn Dogecoin. Discord and Reddit have bots that let users leave tips to the posts they found useful or funny, so engaging with the community in a meaningful and productive way can yield some DOGE in the end. If you have something to offer in exchange for Dogecoin, try finding someone willing to pay you on DogeMarket. People offer to program bots, make memes for DOGE, or just use it instead of exchanges.
Very Price: Charts and Facts
As opposed to Bitcoin Core, Dogecoin was not really designed to become a store of value or a speculative asset to begin with. It is, as their site describes, peer-to-peer digital currency in its purest form. Despite that, there is still some activity going on with trading DOGE. Historically, it followed the market trends almost to a T, with a few cases of breaking the trends and staying in the green zone despite other altcoins losing value.
The most noticeable price spikes happened in 2014 — soon after the coin was launched and gained popularity — and late 2017 — when Bitcoin and the market as a whole were skyrocketing. In 2018, Dogecoin holders have briefly known the taste of coveted penny parity, but alas, it did not persist. Even at its highest, a single DOGE was worth third-place decimals of a dollar. But don’t let this discourage you: if pizza can be bought with this currency, it is an undeniable proof of the inherent value of it. In addition to DogeMarket, there is SuchList, where you can see for yourself, what value users attribute to DOGE in exchange for goods and services. At the time of writing, Dogecoin ranks 30th by market capitalization. With a market cap of $314 265 406 USD and circulating supply of 124 454 164 575 DOGE, a single DOGE is worth $0,002525 USD (according to CoinMarketCap).
Amaze DOGE Wallets
An official wallet is available for Windows, MacOS, Linux and Android. If you prefer multi-currency software wallets, we recommend Exodus or Trust Wallet. Still, the safest alternative is a cold wallet. Among the hardware wallets that support DOGE are Trezor (One and Model T) and Ledger (Nano S and Nano X). Did you know that the exchanges in Exodus and Trezor apps will be processed by ChangeHero? That’s how you know you’ll get the best rate and quick swaps.
Excite: What’s in Store for Dogecoin?
Dogecoin has been around for long enough to reach maturity. Despite the facade of not being a serious coin, its developers treat it as such anyway, which is vital to keep it running to this day and beyond.
In an interview, one of the core developers, Ross Nicoll hints at a possibility of an Ethereum-Dogecoin bridge in the future. For now, the core team is more busy with keeping Dogecoin in sync with Bitcoin and potentially implementing merged mining and SegWit, as well as raising adoption of DOGE by increasing the number of ways it can be accessed.
Dogecoin is a solid project that is supported by its awesome community that is pretty light-hearted and friendly about using the coin, and is certainly very welcoming! Doge may now be an old meme for some, but neither it nor Dogecoin lost what made them appealing in the first place. The community may joke nowandthen about the Moon, but they are quite serious about supporting this fantastic project. We support Dogecoin as well, so you can exchange it with any other cryptocurrency on our website. You can get it hassle-free, easily and quickly! As always, to share your thoughts and not to miss out on our articles and guides, subscribe to ChangeHero Blog and follow us on Twitter, Facebook, Reddit, Telegram.