Dogecoin (DOGE) was created in 2013 as a lighthearted option 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's no maximum supply.
What is Dogecoin (DOGE)?
Dogecoin (DOGE) was created as a lighthearted alternative to traditional cryptocurrencies like Bitcoin in 2013. The name and Shiba Inu logo derive from a meme. Unlike Bitcoin, which was designed to be scarce, Dogecoin is intentionally abundant — with 10,000 new coins mined every minute and no maximum supply.
For nearly all 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 market cap — with an overall total value that topped $80 billion in 2021, although every individual coin may be worth pennies. How is Dogecoin mined?
Like more prominent cryptocurrencies, including Bitcoin and Ethereum, Dogecoin can be secured by mining. Tens of thousands of computers around the globe compete to mine Dogecoin in order to share the millions of new coins put into the supply each day, while also validating and processing network transactions.
Early in Dogecoin's history, any computer might 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 strong graphics processor unit, a miner may have the ability to earn Doge , however a stronger, specialized computer called an ASIC is probable necessary to be able to mine profitably. Who owns Dogecoin ?
In 2021, Dogecoin experienced an important price run-up as personalities like Mark Cuban, Snoop Dogg, and Elon Musk expressed their curiosity about Dogecoin. Musk even went as far as to joke, “The absolute most entertaining outcome and probably the most ironic outcome will be that dogecoin becomes the currency of Earth in the future.”