What is DOG coin? DOG coin issuance price, total amount and white paper introduction

Dogecoin is an open source peer-to-peer digital currency based on the Scrypt algorithm, created in 2013 and inspired by the Internet meme "Doge". It has an issuance price of $0.00026, has no issuance cap, and has a circulating supply of approximately 132 billion coins as of February 2023. Dogecoin is designed to be a fun, easy-to-use cryptocurrency for online payments, tipping, community building, and potential investment.

What is Dogecoin?

Dogecoin (DOGE) is an open source peer-to-peer digital currency based on the Scrypt algorithm, created in December 2013. It emerged as a satirical cryptocurrency inspired by the then-popular internet meme "Doge" (a Shiba Inu).

Issue Price

The initial issuance price of Dogecoin is $0.00026.

Total Amount

The total amount of Dogecoin has no upper limit, which means it can be issued unlimitedly. As of February 2023, the circulating supply of Dogecoin is approximately 132 billion coins.

White Paper Introduction

Dogecoin’s white paper is a short and easy-to-understand document that describes the technical details, purpose of creation, and potential uses of the cryptocurrency.

Technical Details

• Algorithm: Scrypt
• Block Time: 1 minute
• Block Reward: 10,000 DOGE
• Difficulty Adjustment: Every 100,000 blocks

Purpose of creation

Dogecoin was created as a fun and easy-to-use cryptocurrency that is not controlled by a centralized authority. It is intended to be an online payment and tipping tool.

Potential Uses

• Online Payments: Dogecoin can be used to pay for goods and services in online stores and services.
• Tipping: Social media users can send Dogecoins to people who create high-quality content.
• Community Building: The Dogecoin community is known for its passion and inclusivity. It often supports charities and community projects.
• Investment: Some investors view Dogecoin as a potential investment opportunity, despite its high price volatility.

Latest Dogecoin Trend

As of 16:00 on August 7, 2024, Dogecoin (DOGE) is quoted at $0.0989, with a 24-hour trading volume of $994 million. The price fell by 0.61% in the past 24 hours.

Price Moving Factors

The recent price decline has been attributed to the overall correction in the cryptocurrency market and ongoing concerns about Dogecoin’s viability as a long-term investment.

Future Outlook

While Dogecoin may continue to be volatile in the short term, it still has potential in the long term. Bear market pressure has eased and market sentiment is improving.

Recommendation

For those investors who are willing to take the risk, now may be the right time to accumulate Dogecoin as a long-term investment. However, it is important to remember that there are inherent risks in cryptocurrency investing and only invest the amount you are willing to lose.

Short-Term Outlook

Dogecoin is expected to remain volatile in the coming weeks, but may find support at or slightly above current levels.

The above is the detailed content of What is DOG coin? DOG coin issuance price, total amount and white paper introduction. For more information, please follow other related articles on the PHP Chinese website!