What currency is Dogecoin?
Dogecoin is a cryptocurrency created based on Litecoin with the Shiba Inu logo and is known for its people-friendly image and community spirit. It has no issuance cap and can be traded on exchanges such as Binance, Coinbase, Kraken, Gemini and Robinhood. It stands out for its community drive, social impact, ease of use, and unlimited supply, but is also exposed to the risks of inflation, hype volatility, and regulatory uncertainty.
Dogecoin: The "King of Cuteness" in the cryptocurrency world
What currency is Dogecoin? ?
Dogecoin is a cryptocurrency created on the Litecoin blockchain and bears the Shiba Inu logo. It is known for its people-friendly image and unique community spirit.
Dogecoin Official Website
Dogecoin.com is the official website of Dogecoin, providing the latest information about the coin, team and community.
Issuance
Dogecoin has no issuance cap, which means it can be mined indefinitely. The current circulating supply is approximately 132 billion coins.
Trading Platform
Dogecoin can be traded on a number of cryptocurrency exchanges, including:
- Binance
- Coinbase
- Kraken
- Gemini
- Robinhood
What’s Unique about Dogecoin
Unlike other cryptocurrencies, Dogecoin stands out for the following reasons:
- Community Driven: Dogecoin has a passionate and united community dedicated to promotion and support the currency.
- Social Impact: Dogecoin has been used to support charities and social events.
- Easy to use: Dogecoin is easier to acquire and use than other cryptocurrencies.
- Unlimited Supply: Dogecoin has no issuance cap, which provides room for the possibility of long-term growth.
Potential Risks of Dogecoin
- Unlimited Supply: Unlimited supply may lead to inflation and depreciation in value.
- Hype Driven: Dogecoin’s price is highly volatile, partly based on community hype.
- Regulatory Uncertainty: The regulatory environment for cryptocurrencies is constantly changing and may impact the value and future of Dogecoin.
Conclusion
Dogecoin is a unique cryptocurrency with strong community support and social influence. It offers the potential for unlimited supply, but also risks from hype volatility and regulatory uncertainty.
Dogecoin Current Price Overview
As of 10:00 on August 28, 2024, the price of Dogecoin (DOGE) is $0.098849444365868 USD, with a 24-hour trading volume of $647,817,111.29502 USD . The price of DOGE fell by 6.84888186% in the last 24 hours.
Factors affecting price movements
The recent decline in DOGE price may be due to the following factors:
- An overall correction in the cryptocurrency market
- Investors taking profits
- Tesla and SpaceX CEO Elon Musk’s negative comments on DOGE
Future Outlook
DOGE’s long-term prospects depend on a variety of factors, including overall cryptocurrency market trends, adoption rates, and support from big names like Musk. In the short term, the price of DOGE is likely to continue to fluctuate, but it is expected to maintain its status as a popular and well-known cryptocurrency.
Next Steps
For individuals looking to invest in DOGE, it is important to conduct proper research and understand the potential risks. Personal risk tolerance and financial goals should be considered before deciding to invest.
Short Term Forecast
In the short term, the price of DOGE is expected to continue to fluctuate, but should remain around current levels. As the overall sentiment in the cryptocurrency market improves, the currency may see some gains.
Indicators
- Current Price: 0.098849444365868 USD
- 24 Hour Volume: 647,817,111.29502 USD
- Price Change (24 hours): -6.84888186%
- Circulation volume: 145714606383.71 DOGE
- Circulation market capitalization: USD 14403807877.02
The above is the detailed content of What currency is Dogecoin?. For more information, please follow other related articles on the PHP Chinese website!
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