Dogecoin
Cryptocurrency
1 Year Change
↑11.32%
Buy now

Dogecoin (DOGE)

DOGE/ZAR: Convert Dogecoin (DOGE) to South African Rand (ZAR)

Built using blockchain technology, DOGE was created in 2013 as a lighthearted alternative to established cryptocurrencies like Bitcoin. However, DOGE quickly gained a large crypto following and now boasts one of the largest market caps in the industry.

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Dogecoin (DOGE) Price

DOGE Last Price
R5452.78
DOGE 1y Return
↑11.32%
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DOGE
ZAR
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Pricing data is provided by Altify and excludes fees. Visit our Pricing page for more information on all fees and charges.

Dogecoin (DOGE) Returns

As of December 12, 2023 11:00 PM GMT+2

24 hours

↑11.32%

1 month

↑11.32%

3 months

↑11.32%

6 months

↑11.32%

1 year

↑11.32%

Since Inception*

↑11.32%
* The Dogecoin (DOGE)  inception date was 22 November 2018.

About Dogecoin (DOGE)

What is Dogecoin (DOGE)?

Dogecoin is a decentralised, peer-to-peer digital currency that originated from a viral Shiba Inu meme.

Its native token, DOGE, falls under the Media and Entertainment sector of the cryptocurrency world, specifically classified as a memecoin.

Memecoins thrive on social media buzz and community interaction, often gaining rapid popularity through humorous content, memes, and endorsements from influential figures online.

Though it started as a parody in 2013, Dogecoin has grown into a significant player in the crypto space. Its lighthearted nature has attracted millions of supporters, including high-profile endorsements from celebrities like Elon Musk and Snoop Dogg.

The History of Dogecoin (DOGE)

The Dogecoin blockchain and its cryptocurrency, DOGE, were created by software engineers Billy Markus and Jackson Palmer. Markus, an IBM employee, and Palmer, a software engineer at Adobe, shared a goal of creating a fun and approachable cryptocurrency that broke away from traditional, often "boring" banking systems. Their vision also included offering instant transactions with nearly zero fees.

The origin of Dogecoin began with the idea of making cryptocurrency more accessible than Bitcoin to a broader audience. Palmer took the first step by purchasing the Dogecoin.com domain and setting up the project’s official website. Shortly after DOGE's launch, it quickly gained traction, recording millions in trading volume within its first days, alongside a surge in unique visitors to the website.

Despite the initial success of DOGE, neither Palmer nor Markus claimed the title of CEO. Instead, the Dogecoin community became the driving force behind the network. This community proved its strength multiple times, particularly when it rallied to recover millions of DOGE that were stolen during a hack of the now-defunct Dogewallet project.

How does Dogecoin (DOGE) work?

The Dogecoin blockchain functions through a decentralised, peer-to-peer network, allowing global transactions without the need for permission. Similar to Bitcoin (BTC), Dogecoin operates on its own blockchain, which maintains a complete record of all transactions. This ledger is independently stored and secured by multiple computers, known as blockchain nodes.

Dogecoin is built on four core components:

Consensus Mechanism

Dogecoin utilises a Proof-of-Work (PoW) system where miners compete to propose new blocks. In 2014, Dogecoin shifted from using the SHA-256 algorithm to Scrypt, a less energy-intensive system that allows for merge mining with other cryptocurrencies like Litecoin (LTC).

Unlimited Supply

Unlike most cryptocurrencies, Dogecoin has no supply limit. With over 145 billion DOGE in circulation and around 5 billion more being added each year, this design encourages frequent microtransactions and tipping with DOGE.

Fast Transactions and Low Fees

Dogecoin is optimised for efficient microtransactions, making it ideal for everyday use.

Community

Dogecoin’s vibrant community is its core strength, known for supporting charitable causes and social projects. Notably, the community raised funds in DOGE to help send the Jamaican bobsled team to the 2014 Sochi Winter Olympics.

What Makes Dogecoin Unique?

Dogecoin stands out with its lighthearted and approachable marketing, positioning itself as a fun and friendly internet currency. When it launched in 2013, many saw it as a "joke coin," yet it quickly amassed millions of followers within its first month.

Unlike many cryptocurrencies and digital assets that emphasise being revolutionary or cutting-edge, Dogecoin embraced a more casual vibe while still offering appealing features like near-zero fees, instant transactions, and a supportive yet playful community. Its non-competitive mining model also sets it apart. Though Dogecoin shares similarities with both Litecoin and Bitcoin, its unique positioning as a user-friendly digital currency makes it perfect for micro-payments, social media users, content creators, and vendors.

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How to Buy Dogecoin (DOGE)

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DOGE markets

Explore popular DOGE trading pairs on Altify. You can swap DOGE for FIAT and stablecoins.

DOGE to USD
DOGE to GBP
DOGE to EUR
DOGE to ZAR
DOGE to USDC
DOGE to USDT
USD to DOGE
GBP to DOGE
EUR to DOGE
ZAR to DOGE
USDC to DOGE
USDT to DOGE

Crypto Risk Disclosure

High Volatility and Risk of Loss:

Investing in crypto assets involves significant risk, and may result in the loss of capital. Cryptocurrency markets are highly volatile and may experience sudden and substantial fluctuations in value. As such, there is a possibility that you may receive an amount less than your original investment or experience a complete loss of your initial investment's value.

Remember past performance doesn’t guarantee future results and we can’t guarantee returns since asset prices move based on supply and demand, so never trade with funds you can’t afford to lose.

Altify does not provide investment advice or recommendations. As an investor, you are responsible to make decisions regarding your investments. You should seek professional advice if you're uncertain about the suitability or appropriateness of any investment for your specific circumstances or needs.

Lack of Regulation and Protections:

While the cryptocurrency industry is gradually becoming more regulated, it remains largely unregulated. As a result, your holdings are not protected by any government-backed insurance scheme or financial services compensation scheme. In the event of a loss, theft, or cyber attack, there is no guarantee that you will be able to recover your funds.

Irreversibility of Transactions:

Crypto transactions are irreversible. Sending funds to an incorrect address or falling victim to fraudulent activities may result in the permanent loss of your assets. Ensure all transaction details are correct before proceeding.

Market Liquidity and Accessibility:

Under certain market conditions, it may be difficult or impossible to liquidate a position quickly at a reasonable price. The value of your crypto assets is driven by market demand, which can fluctuate and potentially result in a total loss of value.

Tax and Legal Considerations:

Investing in cryptocurrencies may result in tax liabilities. It is your responsibility to understand and comply with your local tax laws and regulations. Cryptocurrencies may also be subject to changes in legislation that could affect their use, value, and legality.

Further information can be found in the General Risk Disclosures and Crypto Risk Disclosures on our website. Investments should only be made by investors who understand these risks.