Dogecoin (DOGE) Achieves Market Capitalization of $21.75 Billion

Dogecoin (DOGE) traded down 4.2% against the dollar during the 24-hour period ending at 21:00 PM ET on May 7th. One Dogecoin coin can now be bought for approximately $0.15 or 0.00000241 BTC on major exchanges. Over the last week, Dogecoin has traded 16.1% higher against the dollar. Dogecoin has a market capitalization of $21.75 billion and $1.16 billion worth of Dogecoin was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed over the last day:

• Litecoin (LTC) traded down 0.4% against the dollar and now trades at $80.86 or 0.00129099 BTC.
• UNUS SED LEO (LEO) traded up 0.8% against the dollar and now trades at $5.86 or 0.00009352 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 down 3.5% against the dollar and now trades at $0.0182 or 0.00000029 BTC.
• Polymath (POLY) traded 18.9% higher against the dollar and now trades at $0.0980 or 0.00000157 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.

About Dogecoin

Dogecoin is a proof-of-work (PoW) coin that uses the Scrypt hashing algorithm. It was first traded on December 6th, 2013. Dogecoin’s total supply is 144,199,946,384 coins. The Reddit community for Dogecoin is https://reddit.com/r/dogecoin and the currency’s Github account can be viewed here. Dogecoin’s official Twitter account is @dogecoin and its Facebook page is accessible here. Dogecoin’s official website is dogecoin.com.

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.”

Dogecoin Coin Trading

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

DOGE/USD price chart by TradingView