DOGE Dogecoin
Price Chart
Shows Dogecoin price over time. Chart turns green when price is above both 10-day and 50-day Simple Moving Averages (bullish trend), blue otherwise.
Dogecoin News
News feed displays recent Dogecoin news headlines with sentiment analysis and estimated impact on market price.
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Frequently Asked Questions
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Use Cases of Dogecoin
Dogecoin is primarily used for several purposes:
- Online Payments: It serves as a fast and reliable means of transferring value online, with low transaction fees and quick processing times. Users can send and receive DOGE within seconds, making it ideal for microtransactions.
- Tipping and Crowdfunding: The community often uses DOGE to tip content creators on social media platforms like Reddit and Twitter, encouraging content creation and community engagement.
- Charitable Donations: Dogecoin has been involved in various charity fundraisers, leveraging its community and accessibility for philanthropic causes.
- Speculative Investment: Some users invest in Dogecoin, taking advantage of its price fluctuations to earn profits, though it's more suited for transactions rather than long-term investment due to its inflationary nature.
- Microtransactions: The low fees and fast transaction times make Dogecoin particularly suitable for small transactions, such as buying digital goods or services.
Last Updated: 11/26/2024 12:15 UTC -
Pros of Dogecoin
- Security: Dogecoin uses a proof-of-work algorithm, making it less susceptible to hacking compared to centralized payment providers.
- Low Costs: Dogecoin has low transaction fees, making it a cheaper alternative for everyday transactions and micro-payments.
- Fast Transaction Speeds: With a block time of one minute, Dogecoin processes transactions quickly, which is beneficial for small transactions and online activities.
- Strong Community: Dogecoin has a large, dedicated community that contributes to its popularity and visibility.
- Ease of Use: Dogecoin is accessible and easy to use, making it a viable option for those new to cryptocurrency.
Cons of Dogecoin
- Unlimited Supply: Dogecoin has an infinite supply, which can potentially decrease its value over time.
- Limited Development: Dogecoin has seen relatively little active development compared to other major cryptocurrencies, limiting its potential for use.
- High Volatility: Dogecoin's price is highly volatile, driven by speculation and market sentiment rather than technical development or adoption.
- Limited Use Cases: Despite its popularity, Dogecoin's real-world use cases remain limited, and it has yet to achieve widespread merchant adoption.
- Perception as a "Meme Coin": Dogecoin's origins as a meme-based cryptocurrency can undermine its credibility in the eyes of serious investors.
Last Updated: 11/26/2024 12:15 UTC -
Founders of Dogecoin
The founders of Dogecoin are Billy Markus and Jackson Palmer. Both are software engineers who created Dogecoin as a joke in late 2013 to poke fun at the hype surrounding Bitcoin and other cryptocurrencies.
- Billy Markus: Also known as Shibetoshi Nakamoto, Markus worked at IBM and was the developer behind the first four releases of Dogecoin.
- Jackson Palmer: Palmer, who worked at Adobe, created the Dogecoin.com website and was initially the public face of Dogecoin. He played a crucial role in making the idea a reality and was instrumental in the early success of Dogecoin.
Last Updated: 11/26/2024 12:15 UTC -
Key Investors and Influencers
- Founders: Dogecoin was created by software engineers Billy Markus and Jackson Palmer. However, Jackson Palmer left the cryptocurrency community in 2015 and has expressed critical views on the nature of cryptocurrencies.
- Notable Supporters: Elon Musk, the CEO of Tesla, has been a significant influencer for Dogecoin. His tweets have often led to significant price movements in the cryptocurrency. Other notable figures who have shown support include Snoop Dogg and Gene Simmons.
- Corporate Involvement: Mark Cuban, the owner of the Dallas Mavericks, has also supported Dogecoin by allowing it to be used for purchasing tickets and products for his NBA team.
Last Updated: 11/26/2024 12:16 UTC -
Halal Status of Dogecoin
- Halal Status: Yes
- Reason: Dogecoin is considered halal because it serves as a medium of exchange and has utility in facilitating transactions, which aligns with Islamic finance principles. It does not inherently engage in activities prohibited by Shariah law, such as interest-based lending or gambling.
Key Considerations
- Utility: Dogecoin has practical uses, such as making payments and facilitating small transactions.
- Consensus Mechanism: It uses a Proof of Work (PoW) consensus mechanism, which is not inherently haram.
- Community and Adoption: It has been adopted by various merchants and used for charitable donations, indicating a positive impact.
- Speculation: While speculation is a component of investing in Dogecoin, it is not inherently haram and is a necessary aspect of many investment activities.
Conclusion
Dogecoin is halal due to its utility as a medium of exchange and its lack of involvement in prohibited activities.
Last Updated: 11/26/2024 12:17 UTC
Market Data
Rank: | 9 |
Volume: | 1B |
Marketcap: | 25B |
Fully Diluted Value: | N/A |
Circulating Supply: | N/A |
205M | 791K/984K | |
94M | 2.9M/2.7M | |
33M | 1.9M/3.8M | |
28M | 2.8M/3M | |
25M | 1.8M/2.6M | |
22M | 1.1M/1.4M | |
13M | 41K/73K | |
12M | 676K/790K | |
10M | 428K/538K | |
7.7M | 668K/614K | |
7.1M | 2.7M/3.4M | |
3.4M | 97K/56K | |
3M | 41K/56K | |
2.8M | 3.1M/2.5M | |
1.7M | 127K/169K | |
1.3M | 948K/1.4M | |
1M | 159K/212K | |
1M | 212K/284K | |
907K | 151K/356K | |
897K | 41K/42K | |
837K | 44K/57K | |
567K | 516K/570K | |
249K | 36K/18K | |
239K | 49K/60K |