Dogecoin price in euros

Dogecoin (DOGE) is a cryptocurrency with its own blockchain, designed for transferring money without a central payment processor. It was created on December 6, 2013 by Billy Markus and Jackson Palmer, inspired by the “Doge” internet meme and its Shiba Inu dog.

It started out as a joke about crypto speculation, but it built a community and real-world use. It focuses on direct value transfers, usually with low fees, though it doesn’t solve any problem that other networks don’t also address.

What it’s used for

Holders use DOGE for payments, tips and donations, as well as for transfers between wallets. You can pay merchants that accept it, but acceptance isn’t universal: holding DOGE doesn’t mean you can pay at any store in Greece or elsewhere.

How many DOGE are there

Dogecoin has no maximum supply. New coins are issued through mining, using a proof-of-work mechanism and the Scrypt algorithm, and merged mining with Litecoin is supported.

The reward is 10,000 DOGE per block, with a target of roughly one block per minute. That works out to about 5.26 billion new DOGE a year: issuance continues, but as a percentage of total supply it declines over time.

What to watch out for

Social media influence can trigger sharp price swings, regardless of how much the network is actually used. DOGE also competes with other cryptocurrencies, stablecoins and conventional payment systems, and ongoing issuance shrinks the share of total supply that any fixed balance represents.

The concentration of mining power and of large balances deserves attention, although a large exchange wallet may represent many customers. Software bugs, attacks on the network and losing access to your wallet remain risks, as do changes to the rules on custody and trading.

We think Dogecoin’s technological value lies in its simple job of transferring value, not in any promise that it can replace every payment system.