What is Dogecoin (DOGE)?
Dogecoin (DOGE) was introduced in 2013 as a fun alternative to traditional cryptocurrencies like Bitcoin. Its name and Shiba Inu logo are inspired by a popular meme, reflecting its playful origins. Unlike Bitcoin, which emphasizes scarcity, Dogecoin is designed to be abundant in supply, with 10,000 new coins mined every minute and no cap on its total supply.
There is also a serious basis and reason for the creation and development of Dogecoin. Co-founders, Jackson Palmer and Billy Markus, two software engineers by professional background and experience, wanted to make cryptocurrency accessible to individuals outside of Bitcoin.
It was expressed by the founders that the oversaturation and difficulty in mining Bitcoin from the time of its creation to the start of Dogecoin, made it difficult for the common person to participate in the mining process. This was because of limited resources as well as technological experience. Dogecoin was envisioned as an entry for the less experienced to become involved in the crypto industry.
Dogecoin was originally based on Litecoin. Dogecoin, which utilizes the Scrypt algorithm (pronounced "ess-crypt"), is notable for its low price and unlimited supply. These features contribute to its widespread appeal as a user-friendly and accessible cryptocurrency.
DOGE is listed on Binance for trade and purchase. The current price of DOGE is updated and available in real time on Binance.