Dogecoin (DOGE) is a coin that started off as a joke but turned into a great functional relevance, gaining popularity as well as widespread adoption among cryptocurrency users around the globe.
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Choose your quick section of our Dogecoin review below.
A Quick Overview of our Dogecoin Review:
Dogecoin is a peer-to-peer open-source cryptocurrency that is considered an altcoin. Even though it was created as a joke, Dogecoin has a significant amount of merit with underlying technology derived from Litecoin.
Dogecoin Live Price
What is Dogecoin?
Dogecoin (DOGE) is a coin that started off as a joke but turned into a great functional relevance, gaining popularity as well as widespread adoption among cryptocurrency users around the globe. DOGE is especially popular as result of the dog “meme” of a seemingly eye-giggling Shiba Inu that made the rounds on the internet in 2013, with the coin gaining in value in recent years.
Key Features and Takeaways of Dogecoin
Dogecoin has the following key features as well as takeaways:
Dogecoin is a peer-to-peer open-source cryptocurrency that is considered an altcoin.
Even though it was created as a joke, Dogecoin has a significant amount of merit with underlying technology derived from Litecoin.
The casual presentation of Dogecoin as a Shibu Inu is based on the mood of the burgeoning cryptocurrency community. However, the technology that it uses makes for a faster, adaptable, and consumer-friendly version of Bitcoin.
One of the most notable features of Dogecoin is the use of a Scrypt algorithm and its low price and unlimited supply of DOGE.
Dogecoin has a loyal community of supporters who trade and exchange DOGE in addition to using it as a tipping currency for social media content.
Users can either buy, sell, and trade DOGE on a variety of popular exchanges such as Binance and Gate.io.
Dogecoin’s code is based on Luckycoin which was also derived from Litecoin, which was initially used as a random reward for block mining.
Dogecoin is an inflationary coin as opposed to coins such as Bitcoin, which are deflationary as there is a limit on the number that will be created. Every four years, the amount of Bitcoin released into circulation through mining rewards is halved, with its inflation rate halved along with it until all Bitcoin is released into circulation.
Dogecoin does not have a set group of developers but has volunteer developers and during 2025, the infrastructure of Dogecoin was not a central source of concern and will not be for the near future as result of the active community of miners that mine DOGE.
Dogecoin Mining
Dogecoin makes use of a Proof-of-Work (PoW) consensus method which means that DOGE can be mined. There are two ways through which miners can mine namely either solo, or by joining a Dogecoin mining pool.
Solo mining involves single miners who mine alone while a mining pool involves several miners that work together and combine processing power, boosting their chances to approve transactions and obtain the reward.
In becoming a part of a mining pool there is often a fee charged and rewards are distributed either equally, or proportional to each member’s contribution and/or according to the processing power that they offer.
What do you need to start mining Dogecoin?
To start mining, there are certain requirements. The first of which is a computer that runs either Windows, Linux, or OS X, which is the basic requirement.
In addition, miners need a reliable and fast internet connection and a wallet in which they can keep the DOGE that they mine. Users can choose between software, hardware, hot, and cold wallets, with cold wallets being the safest option as these are not connected to the internet.
Miners who make use of computers to mine must note that mining rigs use a lot of electricity as result of the complexity of the algorithms to be solved by miners. To mine DOGE, miners will need Application-specific Integrated Circuit, or ASIC mining rigs, as these powerful machines are designed specifically to mine blockchains that use PoW consensus methods.
Mining Using a GPU
Miners can make use of Graphics Processing Units (GPUs), which enhance the images and videos on desktop computers. Miners who use GPUs must configure a GPU-specific mining rig to mine DOGE by downloading compatible mining software depending on the computer’s GPU.
Mining Using a CPU
Although there are miners who use CPU, it is not advised as it does not have enough power to successfully mine DOGE. In addition to this, mining attempts may cause the computer to overheat which can lead to damage and/or other health and safety risks.
Pros and Cons
| ✔️Pros | ❌Cons |
|---|---|
| Dogecoin has a fast transaction and validation protocol that takes less than a minute | There are significant limitations on the project when compared to other projects that have significant plans for further development |
| Unlike Bitcoin or Litecoin, DOGE does not have a maximum supply | Mining is expensive and uses significant amounts of electricity |
| In terms of absolute values, DOGE is one of the most traded cryptocurrencies | |
| DOGE is backed by a solid, dedicated, worldwide community |
Transaction Fees
| Type of Fee | Information |
|---|---|
| Trading Fees | 1 DOGE per 1Kb transaction |
Should you buy Dogecoin?
Dogecoin is a name that may not be as popular as Bitcoin, or other cryptocurrencies, but that is changing rapidly as result of it starting to trend in the cryptocurrency space. There are, however, many investors who may be wondering whether they should buy Dogecoin.
Future Growth
Analysists and experts are predicting that the 1 DOGE will soon be equal to one US Dollar, or 14 ZAR, at the time of writing. As more investors start showing interest, DOGE may start trending and increase in value, and more investors are looking to buy it while it is still cheap.
Cheap to buy
The exchange rate is quite low currently, allowing investors to get more for their invested amounts. This is set to change as the value of DOGE increases as result of interest shown in investment.
Not influenced by Media or Hedge Funds
DOGE is not sensitive to the manipulation of Hedge Funds and it is also not driven by media hype, with circulation supply currently on 128 billion DOGE and no maximum supply, DOGE is not driven by common factors that drive other cryptocurrencies.
Widely available
There is a large variety of cryptocurrency exchanges that offer DOGE as part of their asset lists, making DOGE easily obtainable at competitive exchange rates, allowing more people to invest easily in the cryptocurrency.
Mining is greener than Bitcoin
With new laws that have been implemented, DOGE cannot be mined separately from Litecoin as it is connected to the production of Litecoin blocks. This means that miners do not need to obtain additional machinery to mine DOGE and extra energy will not be spent in mining.
Additional factors to consider
In the past month, DOGE has seen a 400% rally which has put it in Blue-Chip Valuation territory, and over the past year, Dogecoin has increased more than 18,000%. There are already many retail investors who are profiting, especially those who have shown commitment to DOGE from the beginning.
There are many that are attributing these increases to people who are trying to recapture the magic that Bitcoin created for investors who were there from the beginning. However, other than being a speculative instrument, DOGE does not have any other purpose.
This factor is concerning to many investors as some may see the trend ending faster than it began, with little to no room for development, such as with cryptocurrencies that are making use of smart contracts while others are changing the face of decentralised finance (DeFi) and the world’s industries along with it.
There is no guarantee that DOGE will continue to increase in value, and neither is there proof that the upwards trend will end soon, and both these scenarios are important for investors to consider based on their individual risk profile, exposure, and tolerance.
How to buy Dogecoin (DOGE)
Step 1 – Open an account on Binance
Navigate to the official Binance website and select “Register Now”. You will be redirected to a “Create a Free Account” where you can either register with your email address or your mobile number.
You can enter your email address and user-selected password or select the “Mobile” option at the top of the form. Select your country code and enter your mobile number along with your user-selected password.
Once you have completed the necessary fields, you can read and accept the Terms of Service before selecting “Create an Account”.
You may have to complete a Security Verification that will confirm that you are not a robot. Next, there is an account verification. During this, a 6-digit verification code is sent to the email address or mobile number that you provided. The code is only valid for 30 minutes and must be entered in the blocks provided on this page.
Once the verification is completed, a welcome page will load, and you will be given the options through which you can either trade or purchase cryptocurrency. If you are new to crypto, you can visit the “Learn More” Section at the bottom of the page.
Step 2 – Secure account with two-factor verification
On the trader’s dashboard, select the option to secure your account with two-factor verification. Even though phone verification is a secure option, the most preferred and secured method is to make use of the Google Authenticator.
Once downloaded and installed, either scan the QR code or type in the one-time, unique code provided to add your Binance account credentials onto Google Authenticator.
Once completed, write down the back up key provided to recover your account on Google Authenticator in case you lose or misplace it. In the final step, enter the 6-digit code which you will receive on your registered email address along with the Google verification code.
Step 3 – Deposit funds
Binance allows for the purchase of cryptocurrencies via fiat deposits as well as cryptos. Deposits can be accessed from the following locations:
The “Welcome to Binance” banner.
Hovering over “Buy Crypto” at the top of the webpage and selecting your preferred method.
Selecting “Deposit” on the “balance details” section on your traders dashboard.
Once you have selected the option to “Deposit”, you can select whether you wish to deposit cryptocurrencies from another wallet, or whether you want to make a fiat deposit.
For Crypto deposits, follow these steps:
Select your coin between Bitcoin, Ethereum, TetherUS, BNB, or EOS.
Select the network to be used between BEP2, BEP20 (BSC), ERC20, or TRC20 and accept the conditions for using the network.
Copy the address or scan the address QR code from the wallet where you are depositing and follow further prompts. Kindly note that each network has its own set of network confirmations between 1 up to 15 confirmations before the deposit will be done.
For deposits in Fiat currencies, follow these steps:
Select the deposit currency from the dropdown list. To gain access to more currencies, it is necessary to verify your identity and face.
Select the payment method to be used, depending on the currency chosen.
Enter the deposit amount and any other details. Kindly note that the transaction fee will be displayed along with the balance after this is subtracted.
Continue with the deposit.
Step 4 – Start Trading
Once you have completed your deposit, you can navigate to the “Markets” section at the top of the page to view the available cryptocurrencies. From here, you can buy, sell, and trade currencies at competitive prices.
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Frequently Asked Questions
When was Dogecoin first launched?
Dogecoin was launched in December 2013.
Who founded Dogecoin?
Dogecoin was created by Billy Markus, an IBM software engineer and Jackson Palmer, Adobe software engineer.
What is “ICO”?
It is Initial Coin Offering that, unlike an IPO, does not mean that those who invest in the cryptocurrency will have an ownership stake of the company that they provide funds to.
When was Dogecoin’s ICO and how much did it raise?
Dogecoin did not have an ICO.
Is Dogecoin legit?
Yes, Dogecoin and DOGE are both legit.
What is Dogecoin’s total supply?
There is no maximum supply of DOGE, however, the current circulating supply 128 billion DOGE.
What is the purpose of Dogecoin?
To act as a payment system that is void of traditional banking fees.
On which blockchain is Dogecoin based?
Dogecoin has its own blockchain.
Does Dogecoin work with smart contracts?
No, Dogecoin is not compatible with smart contracts.
Does Dogecoin have potential to become more valuable?
Dogecoin is currently showing an upwards trend which indicates that it could become more valuable.
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