What is DogeCoin (DOGE)

Dogecoin (DOGE/USDT – Trade it here) is an open-source cryptocurrency that distinguishes itself from other tokens through its unique founding based on the popular meme of the yellow Shiba Inu. It runs on the DogeCoin blockchain, an adaptation of the Bitcoin Core that uses the proof-of-work consensus protocol and Scrypt encryption technology. DogeCoin was founded by two IBM engineers, Billy Markus and Jackson Palmer, who intended for the coin to serve as a symbol of satirization against the wild speculation in the newly-founded cryptocurrency space. 

Dogecoin (DOGE) Logo
Dogecoin (DOGE) Logo

Core Features of Doge

DogeCoin is founded on the principle of decentralization, and it continues to be powered by this axiom.

  • Fun and Friendly Internet Currency. With its inspiration being based on an internet meme, DogeCoin has a broader demographic than most other cryptocurrencies. Community platforms like Reddit and Tiktok have always been at the heart of the fate of DogeCoin. 
  • Fast block time. DogeCoin only takes 1 minute to mine and can be useful in micro-transactions and online payments. 
  • High Volatility. Because of the scale of decentralization achieved by DogeCoin and its community-based operations, it is the ideal coin for cryptocurrency day traders and others who have more experimental investment styles.

DogeCoin Tokenomics

DogeCoin, as a derivation of the original Bitcoin mechanisms, follows its predecessors’ reward mechanisms: 10,000 DOGE per block, and every block takes about 1 minute to mine. However, users can also obtain DogeCoin through trading, swapping, and getting “tipped” by other users through participating in DogeCoin communities. 

There is no hard limit on the supply of DogeCoin, according to its founders Jackson Palmer and Billy Markus. DogeCoin initially had a supply limit of 100 million tokens. By mid-2015, all 100 million tokens were mined and an additional 5 million tokens were put in circulation each year. In February 2014, however, Palmer announced that the amount of DogeCoin that will be added into circulation will no longer be limited to 5 million but rather calculated in consideration of consistently reducing the token’s inflation rate over time. More specifically, the starting inflation rate of  5% in 2015 is scheduled to reduce to 4% by 2019, 3% by 2027, and 2% by 2035.

Is Doge Coin a meme coin? Though this accusation is not baseless and traces back to the words of DogeCoin’s own developers, its current huge market share and high transaction volume render it for many a legitimate investment. Its “fanbase” is also composed of many celebrities (most notably Elon Musk whose comments regarding DogeCoin on Twitter have landed him accusations of market manipulation). Ultimately, the practical economic impact of DogeCoin have long escaped the limits set by its founders.

How to buy Dogecoin?

You can buy DOGE on MEXC following the steps: 

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  1. Search “DOGE” using the search bar to see the available trading pairs. Take DOGE/USDT as an example.
  1. Scroll down and go to the [Spot] box. Enter the amount of DOGE you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy DOGE] to confirm your order. You will find the purchased RVLT in your Spot Wallet.

Recent DOGE Token Price & Performance

DOGE reached the highest price (ATH) of 0.74 USDT on May 7th, 2021. The lowest price of DOGE since the date of ATH date was on June 14th, 2022 reaching 0.053.

Interested in crypto like DOGE?

MEXC provides easy access to trading of altcoins like QUINT, keep an eye on our listings in Innovation and Assessment zones, as well as major tokens in the Main Zone – we have more great projects to list! Also, visit the hot projects section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

Start your crypto trading journey with MEXC Global Exchange


The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

Please note that the information and data above are cited from third-party sources & whitepapers and do not represent MEXC. Please refer to direct sources for more details. This is not financial advice and does not constitute an offer or solicitation to offer or recommend any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

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