Dogecoin is a coin which is based on the doge internet meme and displays a Shiba Inu dog on its logo. The Dogecoin news update is that this is an open-source digital currency which Billy Markus and Jackson Palmer created. This coin was forked from Litecoin in 2013.
The Dogecoin recent news shares that the coin’s total supply is 145.63 billion DOGE.
The maximum supply of this coin is infinite, meaning, there can be an endless amount of DOGE produced.
The circulating supply of this coin is 145.63 billion DOGE and the fully diluted market cap is $15.33 billion.
Talking about the price, Dogecoin price today is $0.1053.
This coin has a different consensus than the PoW consensus mechanism of BTC. That is because it uses Scrypt Technology. Since the maximum supply is not limited, there can be unlimited mining of DOGE.
When Dogecoin was launched, it was stated as a fun version of Bitcoin featuring the Shiba Inu dog on its logo. The casual presentation of this coin is very suitable for the crypto community and their mood. The Scrypt algorithm used in the coin and the unlimited supply have been used as an argument for a quicker, more adaptable and user-friendly version of Bitcoin.
Dogecoin latest news explains that it is an inflationary coin while Bitcoin is a deflationary coin. There is a limit of the number of coins that can be produced for Bitcoin makes it a deflationary coin. Moreover, the amount of BTC released every four years into circulation is halved and the inflation rate is also halved with that until the release of all the coins.
This Dogecoin cryptocurrency was seen as a fun and light-hearted coin as envisaged by the creators. They also planned on making it an appealing coin beyond the core BTC audience because it's based on a dog meme. And since Elon Musk posted a few tweets about it being his favorite coin, it took a boost.
The unique points of Dogecoin cryptocurrency are:
Dogecoin news update states that there is an inflationary model that Dogecoin works on. There is no limit to the Dogecoin cryptocurrency that can be produced and an unlimited amount is available in the marker all the time. Since there is a lack of capping, it might seem counterintuitive but a sense of abundance and circulation is promoted. And due to that, the spending and use of Dogecoin in daily transactions is enhanced.
Moreover, there are really low transaction charges applied with the Dogecoin cryptocurrency. The Dogecoin news updates that the coin is a great option for making transactions everyday where it is required, leisure activities, and microtransactions. Also, the coin is seen as a viable alternative to various other crypto coins whenever the usability is in question.
Apart from that, the biggest advantage of Dogecoin is that this crypto coin has an active and engaging community. When the coin was released, more than a million people visited the Dogecoin.com website within 30 days. The Shibes are those who are Dogecoin enthusiasts who embrace the light-hearted origins of the cryptocurrency, forging a supportive atmosphere.
