Decrypt • Nov 08, 22
Dogecoin, SHIB Plummet as Crypto Market Sheds $44B Overnight
The ongoing feud between crypto titans may have rubbed off on the broader market, with Dogecoin and Shiba Inu hit badly.
Create a Coinbase account to buy and sell Dogecoin on the most secure crypto exchange.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Dogecoin has risen by 27.99% in the past 7 days. The price increased by 2.24% in the last 24 hours. In just the past hour, the price grew by 4.60%. The current price is $0.11 per DOGE. Dogecoin is 85.79% below the all time high of $0.74.
The current circulating supply is 132,670,764,299.894 DOGE.
Dogecoin (DOGE) was created in 2013 as a lighthearted alternative to traditional cryptocurrencies like Bitcoin. The Dogecoin name and Shiba Inu logo are based on a meme. Unlike Bitcoin, which is designed to be scarce, Dogecoin is intentionally abundant — 10,000 new coins are mined every minute and there is no maximum supply.
Dogecoin (DOGE) was created as a lighthearted alternative to traditional cryptocurrencies like Bitcoin in 2013. The name and Shiba Inu logo are based on a meme. Unlike Bitcoin, which was designed to be scarce, Dogecoin is intentionally abundant — with 10,000 new coins every minute and no maximum supply.
For most of its existence, Dogecoin (pronounced “dohj coin”) was considered to be an amusing “memecoin” beloved by its community — but with relatively little value. That changed in 2021, when DOGE became one of the larger cryptocurrencies by — with a total value that topped $80 billion in 2021, even though each individual coin is worth pennies.
Like more prominent cryptocurrencies, including Bitcoin and Ethereum, Dogecoin is also secured by mining. Thousands of computers around the world compete to mine Dogecoin in order to share the millions of new coins added to the supply per day, while also validating and processing network transactions.
Early in Dogecoin’s history, any computer could be useful for mining DOGE. As its popularity has surged however, mining competition has increased, making it difficult for small-scale miners with regular hardware. With a powerful graphics processor unit, a miner may be able to earn Doge, however a more powerful, specialized computer called an ASIC is likely necessary in order to mine profitably.
In 2021, Dogecoin experienced a significant price run-up as personalities like Mark Cuban, Snoop Dogg, and Elon Musk expressed their interest in Dogecoin. Musk even went so far as , “The most entertaining outcome and the most ironic outcome would be that dogecoin becomes the currency of Earth in the future.”
You can buy, sell, hold, send, and receive DOGE using Coinbase and a number of other financial technology companies.
Released: December 2013
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The price of 1 Dogecoin currently costs $0.11.
The current market cap of Dogecoin is $13.82B. A high market cap implies that the asset is highly valued by the market.
The all-time high of Dogecoin is $0.74. This all-time high is highest price paid for Dogecoin since it was launched.
Over the last 24 hours, the trading volume of Dogecoin is $1.24B.
The current circulating supply of Dogecoin is 133 billion.
The median time that Coinbase customers hold Dogecoin before selling it or sending it to another account or address is 105 days.
Dogecoin ranks 6 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 88% of Coinbase users are buying Dogecoin. In other words, 88% of Coinbase customers have increased their net position in Dogecoin over the past 24 hours through trading.
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