DOGECOIN NEWS, ANALYSIS AND FORECAST
Latest Dogecoin News
Dogecoin Technical overview
Latest Dogecoin Analysis
Editors' picks
Semler Scientific reveals plans to buy 105,000 BTC by 2027
Semler Scientific (SMLR) announced a three-year plan on Thursday to boost its Bitcoin holdings to 105,000 BTC by the end of 2027. The announcement comes after it appointed a new executive to spearhead its Bitcoin strategy.
Ethereum Price Forecast: ETH network growth explodes as GENIUS Bill advances
Ethereum (ETH) is trading around $2,500 in the early Asian session on Friday despite a surge in new address growth over the past month. The development follows progress in digital assets regulations after the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) bill passed the Senate.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, XRP consolidate as traders await Trump’s decision
Bitcoin (BTC) price is hovering above the key support level on Friday; a breach below this level could trigger a sharp decline. Ethereum (ETH) and Ripple (XRP) followed BTC’s footsteps and stabilized around their crucial levels, with a failure below their support levels indicating a potential correction ahead.
Top Crypto Gainers: OKB, Sei, Bitcoin Cash – Altcoins shine through amid market volatility
The top cryptocurrencies in the market remain quiet at crucial support levels, while some altcoins experience a bullish spark. Top performers over the last 24 hours include OKB (OKB), Sei (SEI), and Bitcoin Cash (BCH) with over 8% recovery and key resistance breakouts.
Bitcoin: BTC could slump to $100K amid Trump-Musk tussle
Bitcoin (BTC) tumbled to a low of $101,095 on Friday amid volatility in the market. The effect of the tussle between United States (US) President Donald Trump and Tesla Chief Elon Musk negatively influenced the NASDAQ and Tesla's stock price on Thursday, although both are recovering on Friday.
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What is Dogecoin?
Dogecoin (DOGE) is a cryptocurrency based on a once-popular internet meme featuring a Shiba Inu dog.
The meme coin functions similarly to other cryptocurrencies like Bitcoin and Litecoin but with additional features, including increased throughput, cheaper transaction fees and an unlimited supply, sealing its inflationary status. DOGE has a circulating supply of 147 billion and a market capitalization of $46.7 billion, making it the seventh-largest cryptocurrency by market capitalization as of December 30, 2024.
Dogecoin's uniqueness comes from a robust online community that features key influential figures, including Tesla and SpaceX CEO Elon Musk, rapper Snoop Dogg and popular investor Mark Cuban.
A turning point in Dogecoin's history is its momentous rise in H1 2021, ignited by a group of traders on the social media platform Reddit. Members of the WallStreetBets subreddit – the same group responsible for the GameStop short squeeze – heavily traded DOGE, sparking a 4,000% increase in its price to $0.7316.
Within the next year, DOGE crashed heavily to $0.059, shedding 90% of its market capitalization following the crypto bear market in 2022. However, the cryptocurrency seems to be making a comeback, rising over 500% since the crash.
The success of Dogecoin gave rise to a crypto market category known as meme coins, which features thousands of cryptocurrencies with similar characteristics. As of December 30, 2024, the meme coin sector is worth over $105 billion in market capitalization.
When was Dogecoin created?
Dogecoin was founded in late 2013 by software developers Billy Markus and Jackson Palmer as a light-hearted joke to make fun of Bitcoin and other cryptocurrencies. The coin's logo featured a popular meme at the time, the picture of Kabosu – a Shiba Inu dog – and a deliberately misspelled word "doge" describing the dog.
Palmer is credited with purchasing the Dogecoin.com domain and creating the meme coin's logo, while Markus designed its protocol by tweaking the Litecoin protocol – a Bitcoin fork.
Since its inception, Dogecoin has experienced several ups and downs, including hacks and price crashes. However, its community has helped it thrive through major fundraisers, including donating $50,000 to sponsor the Jamaican Bobsled team to the Sochi Winter Olympics and raising $50,000 to sponsor NASCAR Sprint Cup Series driver Josh Wise.
Dogecoin vs Shiba Inu
Dogecoin is considered the first meme coin and runs on its own native blockchain network, which uses the scrypt hash function. DOGE transactions are processed via a proof-of-work consensus mechanism where miners solve cryptographic problems with dedicated hardware.
Similar to Bitcoin, the first miner to solve the problem earns the right to validate transactions and receive DOGE rewards. However, unlike Bitcoin's deflationary design, DOGE has an unlimited supply that will continue growing exponentially.
On the other hand, Shiba Inu (SHIB) is an ERC-20 token – also based on the Shiba Inu dog – that runs on the Ethereum blockchain. Hence, SHIB doesn't have its own blockchain network and could be affected by technical hurdles encountered by the Ethereum blockchain.
SHIB has a fixed supply of 1 trillion and is touted as the "Dogecoin killer" by its community. The Shiba Inu community launched the Shibarium Layer 2 blockchain network on Ethereum to improve the scalability and performance of Shiba Inu ecosystem activities.
DOGE ranks as the largest meme coin with a market capitalization of $46.7 billion, while SHIB follows behind with a market cap of $12.5 billion as of December 30, 2024.