Dogecoin (DOGE) Price Reaches $0.16

Dogecoin (DOGE) traded down 3.4% against the dollar during the twenty-four hour period ending at 15:00 PM Eastern on October 31st. One Dogecoin coin can now be purchased for about $0.16 or 0.00000231 BTC on popular cryptocurrency exchanges. Over the last week, Dogecoin has traded 14.6% higher against the dollar. Dogecoin has a market capitalization of $23.85 billion and approximately $2.05 billion worth of Dogecoin was traded on exchanges in the last day.

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

• UNUS SED LEO (LEO) traded 0% lower against the dollar and now trades at $6.05 or 0.00008612 BTC.
• Litecoin (LTC) traded 4.1% lower against the dollar and now trades at $69.04 or 0.00098213 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• MegaCoin (MEC) traded 2.2% lower against the dollar and now trades at $4.30 or 0.00015776 BTC.
• Polymath (POLY) traded 5.6% lower against the dollar and now trades at $0.0537 or 0.00000076 BTC.
• Lotto (LOTTO) traded 2.1% lower against the dollar and now trades at $0.0005 or 0.00000002 BTC.
• DEI (DEI) traded down 2.5% against the dollar and now trades at $0.0129 or 0.00000020 BTC.

Dogecoin Profile

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 146,600,026,384 coins. Dogecoin’s official Twitter account is @dogecoin and its Facebook page is accessible here. The official website for Dogecoin is dogecoin.com. The Reddit community for Dogecoin is https://reddit.com/r/dogecoin and the currency’s Github account can be viewed here.

According to CryptoCompare, “Dogecoin (DOGE) is an open-source, peer-to-peer cryptocurrency launched in December 2013 by Billy Markus and Jackson Palmer. Initially created as a joke based on the “Doge” meme featuring a Shiba Inu named Kabosu, it quickly grew in popularity. Dogecoin runs on a decentralised blockchain, using Proof-of-Work (PoW) and the Scrypt algorithm, making it less energy-intensive than Bitcoin. Its key uses include tipping content creators, donations, and payments for goods and services. The community is known for its charitable initiatives, such as supporting the Jamaican bobsled team and clean water projects. Despite its humorous origins, Dogecoin has developed a strong community and growing ecosystem, with ongoing development by the Dogecoin Core team and governance provided by the Dogecoin Foundation. There is no maximum supply, and miners earn 10,000 DOGE per minute, encouraging frequent usage rather than holding. Dogecoin remains a unique digital asset with widespread community support.”

Buying and Selling Dogecoin

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

DOGE/USD price chart by TradingView