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Launched in December 2013, Dogecoin (DOGE) is a peer-to-peer (P2P), an open-source cryptocurrency that was developed as an alternative to traditional cryptocurrencies such as Bitcoin. Dogecoin uses the image of a Shiba Inu dog as its logo and is based on the famous “Doge” internet meme.
Created by Billy Markus from Portland and Jackson Palmer from Sydney, Dogecoin (DOGE) was forked from Litecoin in December 2013. The creators of Dogecoin envisage it as a fun, light-hearted cryptocurrency with far more luring capacity than Bitcoin’s core audience since it was based on a dog meme. The world’s wealthiest person (As of November 2022), Elon Musk, has several times posted tweets on social media indicating that Dogecoin is his favorite coin. Dogecoin has the same proof-of-work (PoW) technology as Litecoin.
The developers of Dogecoin have kept the coin the same since 2015. This means that Dogecoin could get left behind, which is why Shibas are leaving Dogecoin to join more refined platforms like Ethereum. One of Dogecoin’s strengths is its easygoing and fun-loving community. Dogecoin has a loyal community base of supporters who not only trade it but also use it as a tipping currency for social media content.
The Dogecoin community refers to themselves as “Shibes.” Today, Dogecoin is still used to tip online creators. It’s also infrequently used for eCommerce, as users can purchase goods and services using Dogecoin at preferred merchants.
Dogecoin launched with the highest supply of 100 billion DOGE, though the cap has since been removed, making the supply essentially limitless. It is a direct copy of Litecoin’s code and can transfer value over the internet like all other digital assets.DOGE is the native cryptocurrency of dogecoin.
Dogecoin is among the most popular memecoins and is thus available on multiple crypto exchanges. Most of them are centralized exchanges (CEX) but they do have OTC or peer-to-peer trading features. Among many, Binance, Coinbase, Robinhood, DogeDex, Ledger, eToro, Kraken, Gemini, and SoFi
Earlier this year, the Dogecoin foundation developed a new update Libdogecoin, designed to provide easier access for users to DOGE products. The new update came after the release of Dogecoin Core version 1.14.6.
Libdogecoin is expected to allow developers to create Dogecoin-compliant products “without having to bother about the more in-depth specifics of the crypto functions.” This indicates lesser technical members can effortlessly design products that are compliant with Dogecoin standards. It is believed that Libdogecoin will support numerous languages, including Python, Node.js, and Ruby. The update enables lightweight direct integration of Dogecoin into a variety of platforms. It is designed to work without requiring users to have in-depth knowledge of blockchain technology.
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Hong Kong’s Securities and Futures Commission (SFC) has started accepting applications for crypto trading platform licenses. Separately, U.S. Sen. Elizabeth Warren (D-Mass.) is calling for a crackdown on the use of crypto in the Chinese fentanyl trade. And, a technical analysis indicator called Bollinger bandwidth suggests dogecoin (DOGE) could be due for a pronounced move. CoinDesk’s Jennifer Sanasie and The TIE Director of Content Lawrence Lewitinn break down some of the most-searched stories impacting the crypto sector this week.
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The top cryptocurrency exchanges for trading in Dogecoin are currently Binance, MEXC, BTCEX, CoinW, and Bitrue.
You may buy Dogecoin on centralized exchanges such as Binance, Crypto.com, Coinbase, Binance, Kraken, Robinhood, Bitfinex, and more. Popular trading pairs for Dogecoin in the market include DOGE/USD, DOGE/CAD, DOGE/INR, DOGE/AUD, DOGE/GBP, and DOGE/PHP.
Dogecoin is accepted companies such as Tesla, Keys4Coins, Twitch, Newegg, AMC Theaters, Gamestop, airBaltic, Bitrefill, Sheetz, and Dallas Mavericks.
Dogecoin mining simply means running the mining software on a computer. The only requirement is to have computer hardware powerful enough to run the software seamlessly. The coin uses the Scrypt hashing algorithm. All miners are required to handle the hashing and interaction with the rest of the DOGE blockchain network.
The coin was created by Billy Markus and Jackson Palmer as a joke that later became a legit cryptocurrency. The coin is now traded in all popular exchanges and is among most traded memecoins in the world
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