Dogecoin
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Dogecoin in numbers
Dogecoin (DOGE) ranks #12 by market capitalization, at $14.60B. It belongs to the Meme sector (Dog-Themed Coins). It has traded since Sep 26, 2014, across 811 markets on 62 exchanges, with $1.36B of volume in the last 24 hours. Its all-time high of $0.736345 was reached on May 8, 2021; the current price is 90.3% below that peak. Its cycle low of $0.049967 came on Jun 18, 2022.
156.64B DOGE are in circulation. 2 team members are listed. Development data lists 2 core developers and 1,647 code commits.
About Dogecoin
Dogecoin is a peer-to-peer payment settlement layer and meme-based community project. The project launched as а joke on December 2013, using the popular internet meme of a Shiba Inu dog as its token mascot. Dogecoin is a fork of Litecoin, which itself is a fork of Bitcoin. It operates on a proof-of-work blockchain using the Scrypt hashing algorithm and is commonly used for tipping, microtransactions, and online payments.
Background
Dogecoin was introduced on “X” by Jackson Palmer on Nov. 27, 2013, when he posted about "investing" in “Dogecoin,” a then-made-up name. Palmer received replies encouraging him to create a real Dogecoin, after which he registered dogecoin.com and started developing the project. Palmer and Billy Markus (Co-Creator) “thought that cryptocurrency was being taken far too seriously and wasn’t much fun.”
On Dec. 6, 2013, Dogecoin was launched on mainnet. In 2014, Palmer and Markus ceased contributing to Dogecoin, stating that the cryptocurrency market “increasingly feels like a bunch of white libertarian bros sitting around hoping to get rich and coming up with half-baked, buzzword-filled business ideas.” Following the departure of the original creators, a group of ~40 developers was formed to continue maintaining and developing the project. In June 2014, the Dogecoin Foundation (non-profit) was founded by the original 2014 core team and a new group of advisors. The foundation’s intended purpose includes the following:
(i) Dogecoin’s mainnet remains live and functional, (ii) all initially planned functionality is operational, and (iii) the Dogecoin Foundation supports the project’s continued development. Furthermore, anyone can run (i) Dogecoin Core software and participate in Proof-of-Work (PoW) mining to earn newly minted DOGE and transaction fees, (ii) participate in merged mining via Dogecoin’s Auxiliary Proof-of-Work (AuxPoW), and/or (iii) contribute to Dogecoin Core. Lastly, wallets listed here can be used to store and transfer DOGE.
The Dogecoin Foundation has outlined a Trailmap for the continued development of DOGE, which includes several initiatives to increase its security, adoption, and functionality. Among these initiatives are (i) the makeover of Dogecoin.com and Dogepedia, (ii) the launch of the Dogecoin Standard, (iii) Libdogecoin (v0.1.3 released in February 2024), (iv) GigaWallet, (v) Dogecoin Keyring application and SDK, (vi) RadioDoge, (vii) “community staking,” and (viii) a partnership to develop a Point of Sale (POS) Layer-2 application/network. The development for GigaWallet and Libdogecoin is found on the Dogecoin Foundation’s GitHub. Based on a commercially reasonable search, no verifiable release dates for the above initiatives have been disclosed.
In Feb. 2024. Dogecoin Core v1.14.7 was released, bringing enhancements to RPC methods and security updates for Dogecoin-Qt. Users were advised to upgrade. For more details, refer to the v1.14.7 Release Notes, seen here.
In 2025, the launch of a $500 million DOGE treasury by Bit Origin and notable whale accumulations marked a transition to partial institutional stewardship released.
In October 2025, Dogecoin’s core infrastructure was strengthened with the Cardinals Index Node Upgrade, opening the door for dApps, DeFi platforms and AI integrations without requiring L2 solutions.