This means once 21 million Bitcoins have been mined, there will not be any more new Bitcoin. One of the biggest differences is that Bitcoin has a built-in limit. It also has a few important differences from Dogecoin. Today, it’s the most popular and most valuable digital currency available (as of April 1, 2022). So you don’t need to go through a bank to use them, but they do tend to be more volatile in their value.īitcoin was created in 2009 and was the first cryptocurrency to exist. Cryptocurrencies aren’t controlled by the government and they function on decentralized blockchains. dollar, is backed and controlled by a government and typically stored in banks.
Keep in mind that digital currency is not the same as fiat currency. Every transaction made with the cryptocurrency is verified and stored on the blockchain and can’t be tampered with. The blockchain itself is a ledger that’s shared between cryptocurrency holders. These transactions are secured using cryptography, which is a study of hidden or secure communication. Other cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC) also use blockchain technology to securely store digital currency transactions. This is what enables Dogecoin users to freely tip each other and pay for goods and services online using DOGE. Peer-to-peer means Dogecoin can be sold and traded between individuals, without the need for a bank or other centralized middleman. The meme coin itself is a peer-to-peer, open-source cryptocurrency that runs on blockchain technology. Market cap is the total market value of Dogecoins circulating supply. It has a market capitalization of over $18 billion as of April 1, 2022.
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The Shiba Inu in the meme became the official symbol of Dogecoin and can be seen on social networks and message boards all around the internet.ĭogecoin’s recent rise in popularity is largely due to celebrity backers and social media support, including numerous tweets from Tesla CEO, Elon Musk (since not only do people want to know how to invest in Tesla, but also what Musk himself invests in). The doge meme typically features a Shiba Inu breed of dog and assorted text in Comic Sans font that reveals the dog’s inner monologue. It was originally created as a joke that capitalized two trending pop culture elements at the time: Bitcoin and the Shiba Inu dog meme, also known as the doge meme. Dogecoin, or DOGE, is a form of cryptocurrency that was created by founders Billy Markus and Jackson Palmer in 2013.
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