Dogecoin is a cryptocurrency (or digital currency) that was created in 2013 as a joke, and it was based on a dog meme that was famous at time. However, strangely, it now is the cryptocurrency with the 11th-highest market capitalisation (at the time of writing).
DOGE is a memecoin. The branding of the cryptocurrency is based around a viral internet meme of a Shiba Inu dog, nicknamed “Doge”, who speaks in broken English and expresses various emotions. DOGE runs on the Ethereum blockchain.
Dogecoin has a loyal and enthusiastic community of fans, who use it for tipping, donating, and trading online.
Dogecoin is known as a memecoin. A memecoin is a term used to describe a cryptocurrency that is based on or inspired by an internet meme, a humorous or catchy image, video, or phrase that spreads online. Memecoins are usually created as jokes or parodies, but some of them have gained serious value and recognition over time.
Memecoins are often supported by passionate and loyal communities, who use them for fun, entertainment, and social interaction. Some examples of memecoins are Dogecoin, Shiba Inu, and Pepe Coin.
It could also be considered an altcoin, which is any coin other than Bitcoin.
Dogecoin was launched on December 6, 2013, by two software engineers, Billy Markus and Jackson Palmer. They wanted to create a parody of Bitcoin and other cryptocurrencies, that would appeal to a wider audience and make fun of the hype and speculation in the crypto space.
Markus and Palmer chose the DOGE meme as the inspiration for their coin. Dogecoin quickly gained popularity and attention, thanks to its funny and friendly nature, and its active and supportive community.
Dogecoin also became a popular way of tipping and rewarding content creators and users on social media platforms, such as Reddit, Twitter, and Twitch.
The doge meme originated from a 2010 photo of a Shiba Inu dog named Kabosu, who was adopted by a Japanese kindergarten teacher named Atsuko Sato. Sato posted several photos of Kabosu on her blog, and one of them showed the dog looking sideways at the camera with a curious expression.
This photo became viral on the internet, and people started adding captions to it in Comic Sans font, using broken English and modifiers like “so”, “such”, “many”, “much”, and “very”.
The captions were meant to represent the dog’s inner thoughts and feelings, and often included words related to dogs, such as “wow”, “bark”, and “bone”.
The doge meme became one of the most popular and recognisable memes of the 2010s, and spawned many variations and spin-offs.
Dogecoin is popular for many reasons.
-It has a humorous and light-hearted origin and nature, which make it stand out from other cryptocurrencies, and it appeals to a wider and more diverse audience.
-It has a loyal and enthusiastic community, which is active and supportive on various online platforms, and engages in various social and charitable activities using Dogecoin.
-It has a low price and high supply, which make it accessible and affordable.
-It it high speed and has low fees, which make it convenient and efficient for transferring value over the internet, and suitable for micro-transactions and tipping.
Yes and no. Here are the pros and cons.
-Dogecoin has a loyal and enthusiastic fan base that enjoys the humour and positivity of the coin. They often promote and support Dogecoin on social media, creating viral trends and increasing its exposure.
-Dogecoin has some influential fans, such as Tesla CEO Elon Musk, who has repeatedly tweeted about the coin and boosted its price. Musk has also expressed interest in improving Dogecoin’s technology and making it more environmentally friendly.
-Dogecoin transactions are fast and cheap, making it suitable for micro-transactions and everyday purchases.
-Dogecoin has a large and growing supply, which makes it more accessible and affordable than other cryptocurrencies. There is no hard cap on the number of Dogecoins that can be created, unlike Bitcoin, which has a limit of 21 million coins.
-Dogecoin was originally created as a joke and has no serious use case or innovation. It does not add value to any financial system, unlike cryptos like Ethereum. Dogecoin’s biggest asset, aside from its entertainment value, is its community.
-Dogecoin is highly volatile and dependent on market sentiment and hype. Its price can change dramatically due to various factors, such as celebrity endorsements, media attention, or meme trends.
-Dogecoin faces strong competition from other cryptocurrencies. Dogecoin is not as widely accepted as cryptocurrencies like Bitcoin
Dogecoin can be used for various purposes.
-Tipping and rewarding content creators and users on social media platforms, such as Reddit, Twitter, and Twitch, for providing interesting or valuable content.
-Donating and fundraising for various causes and projects, such as supporting athletes, artists, charities, and communities around the world.
-Buying and selling goods and services online, including real estate.
-Trading and investing in the cryptocurrency market, as Dogecoin is widely available and accepted on many exchanges and platforms. It has shown high volatility however.
Dogecoin has over 3.9 million followers on X, at the time of writing. Dogecoin is often referenced in various media outlets, platforms, and events.
-Saturday Night Live: Dogecoin was the subject of a skit on the popular comedy show, where Elon Musk played a character called “The Dogefather”, who tried to explain what Dogecoin is, and ended up saying that it is “a hustle”. This actually caused the price of DOGE to go down afterwards.
-Time Magazine: Dogecoin was mentioned and praised by Elon Musk in his interview with Time Magazine, where he was named the Person of the Year for 2023.
-TikTok: Dogecoin was the subject of a viral challenge on the popular video-sharing app, where users encouraged each other to buy Dogecoin and push its price to $1.
-NBA: Dogecoin was adopted as a form of payment for tickets and merchandise across several teams, following the example of the Dallas Mavericks, who were the first to do so in 2021.
Music: Dogecoin was featured and referenced in several songs and albums by various artists, who expressed their support or interest in the cryptocurrency. Some of the examples are:
“D is for Dogecoin”, a song by Remy, a comedian and rapper, who made a parody of the Sesame Street theme song, and explained what Dogecoin is and how to use it.
“Dogecoin Anthem”, a song by Lil Mook, a rapper and producer, who made a tribute to Dogecoin.
To buy Dogecoin on CoinJar, you need to follow these steps.
-Download the CoinJar app on iOS or Android. Create an account and verify your ID.
-Upload funds into your CoinJar account. This can be done using a bank transfer or a card, among other methods. Then select Dogecoin. You can keep your Dogecoin in your CoinJar wallet or move it to another wallet.
-Welcome to the DOGE club!
Dogecoin is a cryptocurrency that started as a joke, but has become a phenomenon that has captured the attention of people around the world. It is based on a meme of a dog, and has a fun and friendly culture. If you like less serious, more fun cryptocurrencies, then DOGE may appeal to you.
CoinJar is the longest-running crypto exchange in Australia and has been designed from the ground up with security and ease-of-use in mind. From the quick and intuitive sign-up process, to our lightning fast bank deposits and withdrawals, low fees starting at 0% (on CoinJar Exchange), and user-friendly iOS and Android app, CoinJar is the ideal crypto exchange whether you’re buying DOGE for the first time or an experienced investor.
You can store your Dogecoin in a hardware wallet or on a trusted exchange. Hardware wallets (such as the Ledger) offer high level security, allowing you to store your crypto offline in a unit that only you have the password for. However, exchanges such as CoinJar also provide excellent security, keeping more than 90% of our crypto in cold storage or private, multi-sig wallets and offering our users next-gen 2FA account protection as default.
Dogecoin was created by Billy Markus and Jackson Palmer in December 2013 as a satire on the Bitcoin frenzy. It’s safe to say that they did not envision where their joke was going to end up.
The safest way to Buy Dogecoin is through a trusted exchange with a proven track record. CoinJar is Australia’s longest-running crypto exchange and has been operating since 2013 with no unplanned downtime, security breaches or loss of customer funds. We are registered with AUSTRAC and the FCA UK (for AML purposes) and work with some of the world’s largest payment providers, including Mastercard, Visa, Apple Pay and Google Pay.
The price of DOGE in AUD is determined by the international Dogecoin market – basically, the price to be found on cryptocurrency exchanges in Australia and all around the world. These prices tend to be the same (or very close) because any differences are smoothed out by arbitrage traders that buy at one exchange and sell at another.
The memecoin appeared in 2013, and it was followed by other altcoins or memecoins. It was among the first cryptocurrencies, that rose quickly, like Litecoin.
However Litecoin has somewhat fallen out of popularity (barely hanging on inside the top 20 cryptos by market cap) while Dogecoin hovers in and out of the top ten top cryptocurrencies by market cap.
The price of all cryptos can be volatile, but you can check the price of Dogecoin at the top of this page 24/7. At the time of writing, Dogecoin was worth US$0.79.
As cryptocurrencies get more widely adopted, Dogecoin is likely to find its place as the fun crypto, used for internet interactions and fundraisers. As for its price, it’s hard to predict as crypto prices are volatile, and no one knows what will happen for sure.
Some predictions from experts and other commentators predict that Dogecoin will hit $4 by 2030, while others say it won’t go past $1. If you want to buy DOGE, don’t invest more than you can afford to lose.
Tipping and donations: Dogecoin was originally used as a way to tip people on social media for their content or to support charities and humanitarian causes. For example, the Dogecoin community raised funds to send the Jamaican bobsled team to the 2014 Olympics and to build wells in Kenya.
This is a possibility. At the time of writing, the DOGE price was sitting at US$0.082. This isn’t wildly far from the one-dollar benchmark, however no one knows for sure what will happen in the future.
It is a misspelling of DOGE. If someone offers you Soge, throw your phone into the closet and run for your life.
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