{"id":253892,"date":"2021-05-19T23:12:59","date_gmt":"2021-05-19T20:12:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/what-is-dogecoin-what-you-need-to-know-about-the-cryptocurrency\/"},"modified":"2021-05-19T23:12:59","modified_gmt":"2021-05-19T20:12:59","slug":"what-is-dogecoin-what-you-need-to-know-about-the-cryptocurrency","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-is-dogecoin-what-you-need-to-know-about-the-cryptocurrency\/","title":{"rendered":"#What is Dogecoin? What you need to know about the cryptocurrency"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bc202812d2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bc202812d2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-dogecoin-what-you-need-to-know-about-the-cryptocurrency\/#What_is_dogecoin\" >What is dogecoin?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-dogecoin-what-you-need-to-know-about-the-cryptocurrency\/#What_is_the_connection_between_dogecoin_and_Elon_Musk\" >What is the connection between dogecoin and Elon Musk?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-dogecoin-what-you-need-to-know-about-the-cryptocurrency\/#What_is_the_difference_between_dogecoin_and_bitcoin\" >What is the difference between dogecoin and bitcoin?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-dogecoin-what-you-need-to-know-about-the-cryptocurrency\/#What_is_the_value_of_one_dogecoin\" >What is the value of one dogecoin?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-dogecoin-what-you-need-to-know-about-the-cryptocurrency\/#How_can_I_buy_dogecoin\" >How can I buy dogecoin?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#What is Dogecoin? What you need to know about the cryptocurrency<\/strong>&#8221;<\/p>\n<div>\n<p>Dogecoin, the meme-inspired cryptocurrency, may have started a joke \u2014 but now the quirky digital token has exploded into the center of the trillion-dollar crypto market.<\/p>\n<p>It is the 6th most valuable cryptocurrency currently, having increased by more than 1400% over the past 12 months, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/dogecoin\/\">according to CoinMarketCap<\/a>. <\/p>\n<p>And while different types of cryptocurrencies do share similarities, each digital currency also has unique characteristics that distinguish them in important ways.<\/p>\n<p>So what sets dogecoin apart from its peers, including bitcoin and ethereum? Here\u2019s what it\u2019s all about.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_dogecoin\"><\/span>What is dogecoin?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Software engineers Billy Marcus and Jackson Palmer created dogecoin in 2013 as a way to make fun of the hype around bitcoin and the various other cryptocurrencies at the time. <\/p>\n<p>The digital currency features the face of the Shiba Inu dog from the viral \u201cDoge\u201d meme as its logo and namesake.<\/p>\n<p>Marcus has admitted on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Reddit<\/a> and in several <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-02-11\/dogecoin-s-creator-is-just-as-baffled-as-you-are-about-its-rise\">interviews with the media<\/a> that it was created it in a matter of hours as a joke \u2014 and he sold all of his holdings in 2015.<\/p>\n<p>Even last week, the co-creator quipped on Twitter that, \u201ci made doge in like 2 hours i didn\u2019t consider anything.\u201d<\/p>\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-wrapper twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">i made doge in like 2 hours i didn&#8217;t consider anything<\/p>\n<p>\u2014 Shibetoshi Nakamoto (@BillyM2k) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BillyM2k\/status\/1392952014854778883?ref_src=twsrc%5Etfw\">May 13, 2021<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<p>But that hasn\u2019t stopped a legion of irony-loving, crypto enthusiasts from jumping on the dogecoin bandwagon and driving up the price. <\/p>\n<p>Dogecoin peaked earlier this month at 64 cents per coin, up from the roughly 3 cents per coin it traded at for most of the second half of 2020. <\/p>\n<p>The crypto once boasted a market cap of about $92 billion, about the size of ride-hailing giant Uber and airliner manufacturer Airbus.<\/p>\n<p>As of Wednesday, though, dogecoin had fallen to about 39 cents per coin, with a market cap of about $50.8 billion. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_connection_between_dogecoin_and_Elon_Musk\"><\/span>What is the connection between dogecoin and Elon Musk?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It\u2019s unclear if Tesla and SpaceX CEO Elon Musk owns any dogecoin, but he\u2019s certainly taken an interest in it. <\/p>\n<p>The billionaire has tweeted about the coin at least as far back as April of 2019, saying at the time, \u201cDogecoin might be my fav cryptocurrency. It\u2019s pretty cool.\u201d<\/p>\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-wrapper twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Dogecoin might be my fav cryptocurrency. It\u2019s pretty cool.<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1113009339743100929?ref_src=twsrc%5Etfw\">April 2, 2019<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<p>He\u2019s since tweeted sporadically about the crypto, as well as others, especially bitcoin. These tweets often cause huge surges in the price of the digital currency he mentions.<\/p>\n<p>Musk has claimed before that his tweets about dogecoin are jokes, however, they\u2019ve also occasionally coincided with billion-dollar movements in the crypto market. <\/p>\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"\/>More recently, Musk has caused a stir in the crypto community by <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>earing to pit dogecoin against bitcoin. <\/p>\n<p>Musk\u2019s company, Tesla, announced in February that it had bought $1.5 billion worth of bitcoin and would accept the crypto as payment for its cars \u2014 sending the price of bitcoin soaring. <\/p>\n<p>But last week, Musk made an about-face and announced that Tesla would no longer accept bitcoin, citing the impact of \u201cmining\u201d bitcoin on the environment. <\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1024\" height=\"701\" alt=\"Tesla CEO Elon Musk has been a proponent of dogecoin.\" class=\"wp-image-18288735 lazyload\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/TESLA-BITCOIN_MUSK.jpg?quality=90&amp;strip=all&amp;w=300 300w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/TESLA-BITCOIN_MUSK.jpg?quality=90&amp;strip=all&amp;w=640 640w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/TESLA-BITCOIN_MUSK.jpg?quality=90&amp;strip=all&amp;w=1280 1280w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/TESLA-BITCOIN_MUSK.jpg?quality=90&amp;strip=all&amp;w=1024 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/TESLA-BITCOIN_MUSK.jpg?quality=90&amp;strip=all&amp;w=2048 2048w\" data-sizes=\"(max-width: 640px) 100vw, 1024px\"\/><figcaption>Tesla CEO Elon Musk has been a proponent of dogecoin.<\/figcaption><figcaption><span class=\"credit\">REUTERS\/Michele Tantussi<\/span><\/figcaption><\/figure>\n<p>The entrepreneur said company was looking at other cryptos that consume less energy per transaction \u2014 and then suggested dogecoin might be a candidate.<\/p>\n<p>\u201cWorking with Doge devs to improve system transaction efficiency. Potentially promising,\u201d Musk <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1392974251011895300\">twe<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1392974251011895300\">eted<\/a>.<\/p>\n<p>Musk\u2019s public embraces of dogecoin have also encouraged other celebrities to join the hype, including Dallas Mavericks owner Mark Cuban, Snoop Dogg and Kiss star Gene Simmons. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_difference_between_dogecoin_and_bitcoin\"><\/span>What is the difference between dogecoin and bitcoin?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The biggest difference between the two coins is that while bitcoin is designed to have a limited supply, dogecoin exists in infinite supply.<\/p>\n<p>The supply of bitcoin is capped at about 21 million, which enthusiasts say means that it can behave like other assets that are limited by supply, such as gold. <\/p>\n<p>Bitcoin boosters argue this is why the digital token will one day be a stable \u201cstore of value.\u201d<\/p>\n<p>Dogecoin, on the other hand, currently has no such cap. Marcus, the dogecoin creator, said recently on twitter that the infinite supply was unintended. He said the main consideration in creating dogecoin was making a crypto that enabled faster transactions. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_the_value_of_one_dogecoin\"><\/span>What is the value of one dogecoin?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Dogecoin\u2019s value is determined by what someone else is willing to pay for it. <\/p>\n<p>There are still very few businesses that will accept dogecoin as payment for its products or services, so its value is really determined by the market, which can be extraordinarily volatile.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1024\" height=\"668\" alt=\"Dogecoin's price peaked at 64 cents per coin.\" class=\"wp-image-18288750 lazyload\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/CRYPTO-CURRENCY_MUSK-TESLA.jpg?quality=90&amp;strip=all&amp;w=300 300w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/CRYPTO-CURRENCY_MUSK-TESLA.jpg?quality=90&amp;strip=all&amp;w=640 640w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/CRYPTO-CURRENCY_MUSK-TESLA.jpg?quality=90&amp;strip=all&amp;w=1280 1280w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/CRYPTO-CURRENCY_MUSK-TESLA.jpg?quality=90&amp;strip=all&amp;w=1024 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/CRYPTO-CURRENCY_MUSK-TESLA.jpg?quality=90&amp;strip=all&amp;w=2048 2048w\" data-sizes=\"(max-width: 640px) 100vw, 1024px\"\/><figcaption>Dogecoin\u2019s price peaked at 64 cents per coin.<\/figcaption><figcaption><span class=\"credit\">REUTERS\/Dado Ruvic\/Illustration\/File Photo<\/span><\/figcaption><\/figure>\n<p>As of Wednesday, the meme-inspired crypto was trading at about 39 cents per coin, but there\u2019s no guarantee it will remain at that value next week, or tomorrow, or even later today.<\/p>\n<p>However, the entire cryptocurrency sector has been known for its volatility since its establishment. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_can_I_buy_dogecoin\"><\/span>How can I buy dogecoin?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors can use various crypto exchanges to buy dogecoin, though it\u2019s not listed as widely as larger cryptos like bitcoin and ethereum. <\/p>\n<p>Dogecoin is listed under the ticker DOGE on the commission-free trading app Robinhood, cyrpto-exchange <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.binance.com\/en\">Binance<\/a>, trading platform <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.webull.com\/cryptocurrency\">WeBull<\/a> and others. <\/p>\n<p>On a handful of exchanges, such as the app Kraken, you can buy dogecoin using other cryptocurrencies, but if you want to pay in US Dollars, you\u2019ll need to provide more verification documents. <\/p>\n<p>Notably, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinbase.com\/\">Coinbase<\/a>, the first publicly-traded crypto-exchange, does not currently list dogecoin \u2014 but the company said earlier this month that it plans to in the next six to eight weeks.\n            <\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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What you need to know about the cryptocurrency&#8221; Dogecoin, the meme-inspired cryptocurrency, may have started a joke \u2014 but now the quirky digital token has exploded into the center of the trillion-dollar crypto market. It is the 6th most valuable cryptocurrency currently, having increased by more than 1400% over the past 12&#8230;<\/p>\n","protected":false},"author":1,"featured_media":253893,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/CRYPTO-CURRENCY_MUSK-TESLA.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,76127,39394],"class_list":["post-253892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-cryptocurrency","tag-elon-musk"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/253892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=253892"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/253892\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/253893"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=253892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=253892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=253892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}