Dogecoin Hits Market Cap of $24.25 Billion (DOGE)

Dogecoin (DOGE) traded 1.5% higher against the dollar during the one day period ending at 18:00 PM ET on May 22nd. One Dogecoin coin can currently be bought for $0.17 or 0.00000242 BTC on major exchanges. Over the last seven days, Dogecoin has traded up 7.5% against the dollar. Dogecoin has a total market cap of $24.25 billion and approximately $2.13 billion worth of Dogecoin was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed over the last 24 hours:

• Litecoin (LTC) traded 2.1% lower against the dollar and now trades at $85.86 or 0.00123546 BTC.
• UNUS SED LEO (LEO) traded 0.5% lower against the dollar and now trades at $5.95 or 0.00008565 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• MegaCoin (MEC) traded down 2.2% against the dollar and now trades at $4.30 or 0.00015776 BTC.
• DEI (DEI) traded 5.1% lower against the dollar and now trades at $0.0176 or 0.00000025 BTC.
• Polymath (POLY) traded up 3% against the dollar and now trades at $0.0743 or 0.00000107 BTC.
• Lotto (LOTTO) traded 2.1% lower against the dollar and now trades at $0.0005 or 0.00000002 BTC.
• EAC (EAC) traded flat against the dollar and now trades at $0.0011 or 0.00000004 BTC.

Dogecoin Coin Profile

Dogecoin (CRYPTO:DOGE) is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. It launched on December 6th, 2013. Dogecoin’s total supply is 144,398,926,384 coins. Dogecoin’s official Twitter account is @dogecoin and its Facebook page is accessible here. Dogecoin’s official website is dogecoin.com. The Reddit community for Dogecoin is https://reddit.com/r/dogecoin and the currency’s Github account can be viewed here.

According to CryptoCompare, “Dogecoin (DOGE) is a cryptocurrency that was created in 2013 inspired by the Shiba Inu dog meme. It uses underlying technology from Litecoin and has a large circulating supply of 132 billion DOGE. It was initially created as a joke but has gained value due to supply and demand, and has been accepted by large retailers such as Tesla as a payment method. It was created by Jackson Palmer and Billy Markus and uses Litecoin’s Scrypt mining algorithm and is a Proof-of-Work cryptocurrency that can be merged mined with Litecoin. The value of DOGE has increased due to speculation about its potential adoption by products and services from companies owned by Elon Musk, such as Tesla and Twitter.”

Buying and Selling Dogecoin

It is usually not possible to buy alternative cryptocurrencies such as Dogecoin directly using US dollars. Investors seeking to acquire Dogecoin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Dogecoin using one of the aforementioned exchanges.

DOGE/USD price chart by TradingView