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Dogecoin

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Description

What does Dogecoin do?

Inspired by the infamous Shibe doge meme, Dogecoin was born as a parody coin poking fun at the large number of altcoins being created in late 2013. Dogecoin now serves almost as a crypto mascot; the project is a fun and friendly cryptocurrency capable of attracting newcomers to the space.

While Dogecoin may not be creating new innovations in the field, the project has grown one of the largest and most loyal cryptocurrency communities. Dogecoin’s subreddit has over 100,000 subscribers and the project generally remains among the Top 100 on Coinmarketcap.

What is DOGE used for?

DOGE is used primarily for micro-tipping, but is also rewarded to miners for their part in keeping the network secure.

Micro-tipping is an interesting new use case of cryptocurrencies, where content consumers show gratitude to content creators by giving them tiny fractions of coins as tips. By taking part in micro-tipping, users are utilizing the technology in a way that promotes adoption by spreading cryptocurrencies around the internet, often even giving cryptos to people who don’t otherwise use or own them.

How can DOGE appreciate in value?

People use DOGE to experiment with cryptocurrencies. Since DOGE is extremely cheap, a user can purchase a small amount, download a wallet, and become familiar with interacting with cryptocurrencies. Otherwise, DOGE is not meant to increase in price or serve any specific purpose.

However, it might be noted that Dogecoin’s optimistic promotional video mentions some reasons its price may skyrocket: “Much amazing wallet! Dogecoin good! Very technology! To the moon we go!”

What is the difference between DOGE and its competitors?

Since Dogecoin is a less serious project that is not updated by developers, there are no significant competitors for the project, nor is there a competitor that the team would care to compete with. Dogecoin has a huge following that continues to grow out of pure entertainment and community.

  • Mainnet Launch: Dogecoin was launched on December 6th, 2013
  • Open Source: Yes
  • Consensus Type: PoW (simplified variant of scrypt)
  • Technology: Blockchain
  • Total Coin Supply: There is an unlimited total supply, there'll be 10.000 doge added every new block
Reward
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REWARD
REWARD
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Risk
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RISK
RISK
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Our opinion

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Overall Rating 0.00

Idea
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Innovativeness

Is the project solving a new problem?

Feasibility

Is the project’s solution realistic?

Clarity

Does the project’s message make sense?

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Team
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Core Members

How experienced and skilled are the team members?

Commitment

Are any key members involved in other projects?

Advisory Board

Is the project advised by anyone notable?

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Market & Competition

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Awareness
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Attention

Is the project on the public’s radar?

Hype

Is the general opinion of the project positive or negative?

Community

Is the project supported by a large number of crypto enthusiasts?

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Coin Utility
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Usefulness

Is the project’s native currency needed for key features?

Versatility

Does the native currency have a number of different uses?

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Our opinion

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Description

What does Dogecoin do?

Inspired by the infamous Shibe doge meme, Dogecoin was born as a parody coin poking fun at the large number of altcoins being created in late 2013. Dogecoin now serves almost as a crypto mascot; the project is a fun and friendly cryptocurrency capable of attracting newcomers to the space.

While Dogecoin may not be creating new innovations in the field, the project has grown one of the largest and most loyal cryptocurrency communities. Dogecoin’s subreddit has over 100,000 subscribers and the project generally remains among the Top 100 on Coinmarketcap.

What is DOGE used for?

DOGE is used primarily for micro-tipping, but is also rewarded to miners for their part in keeping the network secure.

Micro-tipping is an interesting new use case of cryptocurrencies, where content consumers show gratitude to content creators by giving them tiny fractions of coins as tips. By taking part in micro-tipping, users are utilizing the technology in a way that promotes adoption by spreading cryptocurrencies around the internet, often even giving cryptos to people who don’t otherwise use or own them.

How can DOGE appreciate in value?

People use DOGE to experiment with cryptocurrencies. Since DOGE is extremely cheap, a user can purchase a small amount, download a wallet, and become familiar with interacting with cryptocurrencies. Otherwise, DOGE is not meant to increase in price or serve any specific purpose.

However, it might be noted that Dogecoin’s optimistic promotional video mentions some reasons its price may skyrocket: “Much amazing wallet! Dogecoin good! Very technology! To the moon we go!”

What is the difference between DOGE and its competitors?

Since Dogecoin is a less serious project that is not updated by developers, there are no significant competitors for the project, nor is there a competitor that the team would care to compete with. Dogecoin has a huge following that continues to grow out of pure entertainment and community.

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