Dogecoin, also known as the people’s cryptocurrency, is open-source and peer-to-peer. Rendering its name and outlook from the viral meme, it is a fun cryptocurrency that uses transparent blockchain technology and is favored by Shiba Inus throughout the world.
It has a closed-knit Dogecoin Reddit community, a public forum created on 8 December 2013. The Reddit page is described as “the most amazing place on Reddit.” And the forum is created for discussions, hoarding, sharing, and saying good things about Dogecoins, “The much wow innovative cryptocurrency.”
In this blog, I will be extensively discussing the origin of Dogecoins, its technicalities, features, etc. Also, we will get to know about Dogecoin’s loyal community, how you can buy this ‘fun’ cryptocurrency, its latest price, and what its future looks like.
Dogecoin History and Origins
Dogecoin was launched on 6 December 2013 by software engineers Billy Markus and Jackson Palmer as a funny parody of the Bitcoin hype of that time. It is a peer-to-peer and open-source cryptocurrency whose motto is ‘Do Only Good Everyday,’ DOGE.
It features the Shiba Inu dog from the “DOGE” internet meme and utilizes a proof-of-work blockchain supported by Litecoin’s Scrypt algorithm, which makes it far easier to mine. Bitcoin has a capped supply of 21 million coins, whereas Dogecoin works on an inflationary model. That is, it adds about 5 billion new coins every year to stabilize its price and encourage users to buy instead of hoarding.
If you are curious about the Shiba Inu, it is a Japanese dog breed that shot to online popularity after a meme went viral, and this breed represents Dogecoin. It embraces the Shiba Inu “Doge” meme with playful phrases like “such wow,” defining its casual and fun branding.
Technical Foundation of Dogecoin
The blockchain Dogecoin uses processes blocks every minute; in comparison to Bitcoin’s 10 minutes, it is much faster. This ensures quick confirmations, and the fees are under $0.01. Its Scrypt PoW resists ASICs somewhat but now favors them for greater efficiency. Dogecoin mining requires hardware like Bitmain Antminer L7 ASICs, software like CGMiner or EasyMiner, and pools like Prohashing or Aikapool for consistency in gaining rewards.
How To Mine Dogecoin?
To mine Dogecoin successfully, follow the given steps below:
- Get Srcypt ASICs and install the software.
- Set up a wallet like the official Dogecoin Core.
- Join a pool and configure via Ethernet for stability. Solo mining is rarely done due to the high hashrate, whereas pools distribute block rewards of around 10000 DOGE/ block.
- Having a wallet is vital. Use something like Ledger Nano X or Trezor for security, Exodus, or Trust Wallet for convenience.
Features of Dogecoin
The features of Dogecoin are what truly make it beginner-friendly and robust altogether. What differentiates it from other cryptocurrencies is its simplicity, speed, and community-driven approach. Some of its stand-out features include:
- Capable of generating new blocks every 1 minute on average, much quicker than Bitcoin or Litecoin.
- It utilizes a memory-intensive Scrypt hashing algorithm that supports efficient Scrypt ASICs for mining.
- It implements Auxiliary Proof-of-Work (AuxPoW), with which Litecoin miners can mine for Dogecoins simultaneously, without needing extra effort, and also increasing network security through shared hashrate.
- Dogecoin operates on a distributed ledger with thousands of nodes scattered worldwide, which means no single point of control and no resistance to censorship.
- Unlike Bitcoin, Dogecoin adds around 10,000 DOGE/ block, i.e., almost 5 billion yearly, to promote spending and tipping instead of hoarding.
- Due to rapid blocks, it allows more transactions per second, making it ideal for regular payments.
- It has a lower transaction cost, around $0.01, compared to higher fee networks like Ethereum.
- It is beginner-friendly with simple wallet interfaces, easy mining setup, and an official Core wallet.
- It is completely transparent with a tight-knit community and forked from Litecoin originally for added reliability.
- It is cross-platform compatible and can work with hardware, software, mobile, and web wallets for versatile storage.
Dogecoin Today’s Price
According to CoinMarketCap, Dogecoin’s price today is $0.09358, up by 0.15% in the last 24 hours, with a market cap of $15.77 billion, increased by 0.08%. According to the same platform, Dogecoin was highest on 8 May 2021 (5 years ago) at $0.7376. Since then, it has gone down by 87.31%. And, it was the lowest on 7 May 2015, at around $0.00008547, since then it has experienced an increase of 109400.62%!
Related: Cardano (ADA) Price: History, Today’s Price, How To Buy?
Ties to Shiba Inu Meme and SHIB Comparison
The origin of the ‘Doge’ meme can be traced back to a 2010 photo of Kabosu, a Shiba Inu rescue dog owned by a Japanese teacher, Atsuko Sato. Once she posted the photo on her blog, users overlaid it with rainbow Comic Sans text in broken English, such as ‘such wow’ and ‘much coin.’ This made the dog viral in 2013. By 2024, the much-loved Kabosu dog passed away at 18, and as an inspiration, Dogecoin came into being that December as a parody of Bitcoin.
The co-creators, Billy Markus and Jackson Palmer, chose the Doge image due to its wholesomeness, combining meme culture with crypto hype to mock the Bitcoin market. Once Dogecoin went viral on Reddit, users started tipping, and the Shiba Inu became Dogecoin’s eternal symbol.
In August 2020, Shiba Inu (SHIB) was launched by an anonymous ‘Ryoshi.’ It positioned itself as “Dogecoin Killer” using the exact Shiba Inu mascot. It is an ERC-20 token on Ethereum. In 2021, it had a quadrillion-token supply, 589 trillion circulating, and rode the meme mania to temporarily sidetrack Dogecoin’s market cap.
Dogecoin Vs. Shiba Inu (SHIB)
| Aspect | Dogecoin (DOGE) | Shiba Inu (SHIB) |
|---|---|---|
| Launch | 2013 (Proof-of-Work chain) | 2020 (Ethereum ERC-20) |
| Supply | Uncapped, inflationary, around 5 billion/ year | Huge with 589 trillion total, deflationary burns |
| Blockchain | Native Scrypt PoW, merged with Litecoin | Ethereum and Shibarium L2 for DeFi |
| Utility | Merchants, payments, tipping | NFTs, DeFi, Shibarium, governance (BONE/ LEASH) |
| Market Cap (2026) | High, around $13 billion | Low, growing via ecosyste/ burns |
| Community | Backed by Elon Musk, charitable, and fun | Huge on marketing, dev-focused |
How To Buy Dogecoin?
Buying Dogecoin, especially in the USA, is a no-nonsense process. Here is a step-by-step guideline for you to follow:
- Choose a compliant exchange like Kraken, Coinbase, Gemini, etc. Now, download the app, or you can also visit the website. Create an account using your email and password.
- Verify your identity via KYC by uploading government IDs like a driver’s license or passport. You also need to upload your photograph and SSN (the last 4 digits). As per US regulations, account approval can take hours to days.
- To deposit funds, you can link a bank account, use a debit or credit card, wire transfer, or Apple or Google Pay. If you are a beginner, start with a small amount.
- Now, search for DOGE/USD, enter the amount, review the fees and total price, select the market or limit order, and confirm the purchase. Once done, Dogecoin appears immediately in your account.
- To secure and store your purchased Dogecoin, transfer it to a personal wallet, like Exodus (software), Ledger (hardware), or official Dogecoin Core. For ultimate security, always enable 2-Factor Authentication methods and avoid leaving it on exchanges for a long time.
Dogecoin Adoption & Uses
As per CoinLaw’s report, Dogecoin’s market capitalization in March 2025 was at $17.4 billion, which has increased significantly from $12.7 billion in 2024. It re-entered the top 10 cryptocurrencies list by market cap at the beginning of 2025. By March 2025, Dogecoin had become the 9th largest cryptocurrency by market capitalization.
By 2025, Dogecoin had experienced steady adoption growth, especially for payments and tipping, as thousands of merchants started accepting it globally. It is practical for daily use due to its low fees and quick transactions. Today, almost 3100 global businesses accept Dogecoins, which includes over 1200 online retailers in the US itself.
Dogecoin’s Primary Use Cases
- Ecommerce merchants and online services like Newegg, Dallas Mavericks, etc., have started accepting DOGE payments.
- It is also used extensively in tipping fundraising campaigns and content creators.
- Also in 2021 May, Elon Musk’s SpaceX announced the launch of DOGE-1, an artificial satellite completely funded by DOGE.
- DOGE is also quite significant in online tipping systems, in which social media users tip one another in exchange for quality or noteworthy content.
Dogecoin: What the Future Holds & Outlook
The Dogecoin community has always been fun-loving, light-hearted, and charity-focused. Dogecoin has these communities on Reddit, Discord, and X (formerly Twitter). They have raised funds of around $50,000 to send the Jamaican Bobsled Team to the Sochi Winter Olympics. The DOGE community also collected funds for another Sochi athlete, Shiva Keshavan. Other than these, the community has also raised funds for multiple events, like sponsoring driver Josh Wise for the NASCAR Sprint Cup Series in 2014.
From its initial days to today, Dogecoin’s future relies heavily on its community, broader adoption, and market cycles. Analysts are predicting moderate growth in the middle of meme coin volatility. In 2026, you can expect consolidation around $0.09 to $0.20, with averages between $0.10 to $0.12, based on technicals and BTC correlation.
Related: Is Bitcoin Traceable? What Does ‘Traceable’ Means In Bitcoin?
FAQs
Will Dogecoin ever reach $1?
Due to the volatile nature of the cryptocurrency market, it is difficult to predict the actual value of Dogecoin, but reaching $1 is highly unlikely in the 2026 to 2027 term.
Does Dogecoin have a future?
It does have a future, but do not expect a major boom like its counterparts, Bitcoin or Ethereum. It is more of a community-driven cryptocurrency with uses in payments and tipping.
Is DOGE a good investment?
Being 100% honest, DOGE is not a smart or long-term investment for most, as it is highly speculative, hype-driven, and volatile. It is more of a short-term investment, trading, or fun money that you do not mind losing.
Who’s Dogecoin’s owner?
It is an open-source, fully decentralized cryptocurrency launched as a ‘joke’ by software developers Jackson Palmer and Billy Markus. It has no owner, and belongs to a global communityof millions.
Is Elon Musk using Dogecoin?
Elon Musk has openly stated that he owns and supports DOGE. In April 2019, Musk tweeted, “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” After this, the DOGE value skyrocketed, and even Huobi listed it.