Dogecoin update: DOGE Live price, price chart, news and markets

The DOGE price update as of now is $0.3172. In the previous 24 hours, its trading volume was $5,075,130,676, and its value has decreased by -5.66%. As of now, DOGE's live market cap is $46,679,325,291, and it is ranked as the #7 on the Coincu. DOGE has a circulating supply of 147,162,106,384 and a maximum supply of 147,162,106,384.

The Introduction of Dogecoin

In December 6, 2013, Dogecoin was launched by Markus and Palmer with the aim of creating a cryptocurrency that would be friendly and easily accessible to newcomers in the world of digital currencies. The inspiration for the coin's name and logo came from the popular Shiba Inu meme. Dogecoin was developed using the open-source code from Litecoin, which itself was based on the Bitcoin blockchain. Right from the start, Dogecoin positioned itself as a fun and lighthearted cryptocurrency, capturing the attention of the industry throughout 2014.

A Strong Sense of Community and Charitable Contributions

Dogecoin's developers understood the importance of community and took their project and user responsibility seriously. They explored innovative ideas for cryptocurrency design and emphasized the value of community in cryptocurrency systems. In 2014, the Dogecoin community successfully raised funds for various charitable causes, including:

• A donation of $30,000 to support Jamaica's bobsled team's efforts to qualify for the Winter Olympics
• Contributing $50,000 towards the construction of water wells in Kenya
• Sponsoring NASCAR driver Josh Wise with a generous sum of $55,000

How Dogecoin Became Prominent

By 2021, Dogecoin had gained significant attention and recognition. It gained traction on Reddit's WallStreetBets discussion boards and Twitter, with its value surging in response to influential figures like Elon Musk tweeting about it. Musk's tweets such as "to the moon," "favorite cryptocurrency," and "people's crypto" caused the price of Dogecoin to skyrocket, increasing by approximately 30% within minutes. While it remains uncertain whether Musk's intention to send Dogecoin to the moon was serious, considering his company's lunar exploration goals, it is not entirely implausible. In 2021 alone, Dogecoin's value has experienced an astonishing increase of over 4,000%, largely influenced by a massive online community that includes Elon Musk, Mark Cuban, and Snoop Dogg.