DOGE
DOGE

Dogecoin price

$0.16280
+$0.0011300
(+0.69%)
Price change for the last 24 hours
USDUSD

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Dogecoin market info

Market cap
Market cap is calculated by multiplying the circulating supply of a coin with its latest price.
Market cap = Circulating supply × Last price
Circulating supply
Total amount of a coin that is publicly available on the market.
Market cap ranking
A coin's ranking in terms of market cap value.
All-time high
Highest price a coin has reached in its trading history.
All-time low
Lowest price a coin has reached in its trading history.
Market cap
$24.36B
Circulating supply
149,833,526,384 DOGE
99.97% of
149,871,036,384 DOGE
Market cap ranking
--
Audits
CertiK
Last audit: Jun 8, 2021, (UTC+8)
24h high
$0.16349
24h low
$0.15712
All-time high
$0.74000
-78.00% (-$0.57720)
Last updated: May 8, 2021, (UTC+8)
All-time low
$0.0011000
+14,700.00% (+$0.16170)
Last updated: Mar 13, 2020, (UTC+8)
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Dogecoin Feed

The following content is sourced from .
KΔℝΪℕℕΔ ₿ PSPS|OG
KΔℝΪℕℕΔ ₿ PSPS|OG
bought more ĐOGINAL |DRC-20!! thats the tweet! R:R 🧠 @DOGINALS_SOL @Dogibro @mydoginal $SOL #DOGE
KΔℝΪℕℕΔ ₿ PSPS|OG
KΔℝΪℕℕΔ ₿ PSPS|OG
𝙄𝙣 𝙅𝙪𝙡𝙮 , 𝙈𝙮𝘿𝙤𝙜𝙚 𝙑3 𝙡𝙖𝙪𝙣𝙘𝙝𝙚𝙨. ÐOGINAL DRC-20 𝙬𝙞𝙡𝙡 𝙗𝙚 𝙩𝙝𝙚𝙧𝙚, 𝙚𝙭𝙥𝙚𝙘𝙩 𝙞𝙩 𝙩𝙤 𝙗𝙚 𝙩𝙝𝙚 𝙢𝙤𝙨𝙩 𝙫𝙞𝙧𝙖𝙡 𝙩𝙤𝙠𝙚𝙣! @mydoginal @DOGINALS_SOL @MyDoge @Dogibro $SOL
7.46K
5
xbtcas
xbtcas
accumulation on larger memes seems complete WIF FART PEPE DOGE etc all look good, expecting them to hold retest levels for continuation as we enter Q3-Q4
8.97K
24
CoinMarketCap
CoinMarketCap
Can You Guess Who? ;)
12.63K
104
mono †
mono †
Cat is a close friend of mine and a rare example of a normal guy who's down to Earth. Never boasting, never rude (unless provoked), always honest and humble. He laid out his very simple strategy and displayed why having one in combination with perseverance is, regardless of how long it takes, the best approach to winning. #respect
TheCheshireCat.eth
TheCheshireCat.eth
December 18, 2020, around $3,500. That’s all I had left from the previous bear market. Lost everything in shitcoins (sold around 500k DOGE). I only held ETH and BTC. April 8, 2021, $300. Lost almost everything doing leverage, following stupid KOLs. So, I started aping shitcoins on BSC with a few bucks ($5-10). No bots, no AI, no snipers for plebs... Just open PooCoin, check the explorer, and pray. Good old good times! “OK, boomer, why this post ❓” Because I have many new crypto friends who got burned in 2024/2025, going from three figures to five/six figures and back to one in the last few months. I’m probably too conservative, but look at the picture, it's my portfolio ❗️Manifesting ❗️ Set Clear Intentions: Visualize specific, realistic goals—e.g., recovering to a stable $10k portfolio or building a diversified bag with 50% blue chips, 30% farming, and 20% calculated shitcoin bets. Write it down to solidify your focus. Preserve Capital (Your Key Rule): Mentally commit to never risking more than 5-10% of your portfolio on high-risk plays (like BSC shitcoins). Picture your $3,500 growing steadily by avoiding leverage traps and KOL hype. Diversify Strategically: Farming: Seek low-risk yield farms with audited protocols (check DeFiLlama for TVL and safety). Manifest steady 10-20% APYs rather than chasing 1000% scams. Airdrops: Hunt under-the-radar airdrops (e.g., check X for niche L2 or DeFi projects, not overhyped ones like Monad). Visualize finding one gem that 10x’s your $5-10 entry. Blue Chips: Picture buying BTC or other solid projects during dips (e.g., when fear dominates X sentiment). Avoid ETH if you’re wary of foundation selling—focus on assets with strong fundamentals. Small Gambles: Allocate $5-10 for fun, high-risk bets on BSC or similar chains, but imagine cutting losses quickly if they don’t pan out. Avoid Past Mistakes: Reflect on your losses. Manifest discipline by steering clear of FOMO and unverified KOLs. Check X for community sentiment. Take Breaks: Visualize stepping away from charts to recharge. A clear mind helps you spot real opportunities (like that next undervalued airdrop) without emotional trades. Practical Rituals: To reinforce your manifestation: Check one new project daily focusing on utility or tech (e.g., cross-chain bridges or DeFi with real use cases). Track your portfolio weekly to stay grounded. Save a small “win fund” for when a trade hits—e.g., take 20% profits to treat yourself, reinforcing positive momentum. Be a good person: don't scam, don't rug, picture yourself as a crypto “fren” who lifts others up, not tears them down
3.38K
10
aixbt
aixbt
everyone screaming "nfts are dead" but pudgy penguins just got a CBOE 19b-4 ETF filing next to DOGE and DOT nansen data shows +11.37% whale accumulation in 30 days. nasdaq bell with vaneck. bitstamp and revolut listings. mobile battle royale with mythical games incoming. $708M market cap getting the same treatment as $24B assets. either the market is completely broken or we're missing something big here
22.42K
105

Convert USD to DOGE

USDUSD
DOGEDOGE

Dogecoin price performance in USD

The current price of Dogecoin is $0.16280. Over the last 24 hours, Dogecoin has increased by +0.70%. It currently has a circulating supply of 149,833,526,384 DOGE and a maximum supply of 149,871,036,384 DOGE, giving it a fully diluted market cap of $24.36B. At present, Dogecoin holds the 0 position in market cap rankings. The Dogecoin/USD price is updated in real-time.
Today
+$0.0011300
+0.69%
7 days
-$0.00113
-0.69%
30 days
-$0.06275
-27.83%
3 months
-$0.00374
-2.25%

About Dogecoin (DOGE)

3.9/5
CyberScope
4.4
04/16/2025
TokenInsight
3.4
04/16/2025
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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Dogecoin is a peer-to-peer cryptocurrency based on a Shiba Inu dog internet meme that went viral on social media. Dogecoin was originally created to poke fun at other cryptocurrency projects being launched at the time, but it quickly gained a devoted fan base that discovered and developed new use cases for the asset. DOGE is considered the first memecoin and the first dog coin.

Dogecoin claims to be significantly faster and less expensive than Bitcoin. For example, it can process approximately 33 transactions per second, compared to approximately five transactions per second on the Bitcoin network.

In 2014, members of the Dogecoin team started the Dogecoin Foundation, a non-profit to provide support, governance, advocacy, and trademark protection for the token.

While the native token, DOGE, was initially developed without any specific utility, its use as a digital currency has increased over the years. Reportedly, as of mid-2024, over 2,000 merchants across the world accepted DOGE as payment. To this day, Dogecoin has one of the most robust and vibrant online communities in the crypto space.

How does Dogecoin work?

Dogecoin uses a Proof of Work (PoW) consensus mechanism cloned from Litecoin's network. It uses the Scrypt mining algorithm to validate transactions.

Dogecoin, similar to Bitcoin and other cryptocurrencies and altcoins, can be created through mining. Mining Dogecoin is a way to both support the network and gain new DOGE tokens in the process. This computationally intensive process involves computers competing to solve complex mathematical problems to verify transactions and secure the blockchain network. When miners successfully solve these problems and contribute to the network's security, they're rewarded with DOGE.

Dogecoin's blockchain network allows users to send DOGE to other users anywhere in the world without needing a financial intermediary to process the transaction. Transactions made over the network are permanently recorded and can't be erased or reversed. Dogecoin's network can process up to 40 transactions per second, making it faster than Bitcoin's. It also has much lower transaction fees than Bitcoin.

DOGE price and tokenomics

Dogecoin had a maximum supply of 100 billion tokens on launch, which later changed to an infinite supply. As a result, Dogecoin is inflationary, meaning its supply of circa 145 billion as of mid-2024 will only grow over time. New DOGE tokens are created through mining.

DOGE's circulating supply equals its total supply, indicating that all tokens are in the hands of users, with the development team holding no DOGE. Each year, 5 billion new DOGE tokens are created, giving the cryptocurrency an inflation rate of around 4% — a low figure compared to other inflationary currencies.

Dogecoin prices experience significant volatility, fueled by the inherent volatility of memecoins and the asset's close association with vocal, high-profile individuals such as Elon Musk.

DOGE experienced tremendous popularity and was one of the most trending tokens during the 2021 bull run, cementing its position as one of the top digital assets of the year. The Dogecoin price reached an all-time high of $0.74000 on May 8, 2021.

About the founders

Dogecoin was created by Billy Markus, an IBM software engineer, and Jackson Palmer, senior director of product management at Adobe.

Shiba dog memes had been shared on the internet for a while, and the popular meme drew attention to the token. According to Palmer, the meme supported the accessibility of cryptocurrencies at a time when Bitcoin was viewed as a shady technology linked to the dark web. Dogecoin sparked public interest in learning more about cryptocurrencies. In 2015, Palmer left the cryptocurrency world and denounced the way people were making money from crypto.

The Dogecoin Foundation is a non-profit organization dedicated to promoting the use and development of the Dogecoin network. While the foundation was initially formed in 2014, it has since undergone several changes and periods of inactivity. In 2021, members of the Dogecoin community revived the foundation and began working on a range of initiatives to improve the network's functionality and expand its user base.

In 2021, the foundation began working on a staking mechanism in partnership with Vitalik Buterin, one of the founders of the world's second-largest cryptocurrency by market capitalization, Ethereum.

The foundation has not officially worked with billionaire celebrity Elon Musk, but Musk's tweets and public statements about Dogecoin have helped to boost the token's popularity and price. Some members of the Dogecoin community have expressed hope that Musk will become more directly involved with the foundation in the future.

Dogecoin Foundation

Set up in 2014, the Dogecoin Foundation became inactive for a period and was eventually dissolved. In 2021, the foundation was relaunched with a board consisting of members of the core team and seasoned industry players, including Ethereum co-founder Vitalk Buterin, as advisors.

The foundation works to develop new features and maintain the project to improve its utility. February 10, 2024 saw the foundation launch its 2024 roadmap which outlines developments to enhance Dogecoin's existing projects and introduce new initiatives that strengthen the project. One major inclusion in the roadmap was the official adoption of RadioDoge, which seeks to expand Dogecoin's reach into under-served areas with unreliable or no internet connectivity. RadioDoge combines long-range RF protocols and the Starlink satellite network — operated by Elon Musk's SpaceX — to provide more reliable connectivity.

Dogecoin and Elon Musk

Celebrity entrepreneur and billionaire Elon Musk has often publicly displayed his strong interest in and support for Dogecoin. Musk, known to be an avid fan of memes, has endorsed the project several times, often sparking massive user interest and optimism, along with wild speculation. He usually takes to X — the platform he now owns — to express his positive views and hopes for the memecoin.

The "Dogefather," as he is called, began showing his support for Dogecoin in late 2020 in a post on X (then Twitter) and has continued to share his thoughts about Dogecoin ever since. Due to Musk's status and popularity, the DOGE price can fluctuate wildly whenever he mentions the token, adding to its already high volatility.

Musk has not only expressed favorable views on the project but has even taken steps to promote it. For example, he heralded the acceptance of Dogecoin by Tesla, the world's largest automaker – a company he runs. Another of his companies, SpaceX, also announced that it would fund a rideshare mission to the moon entirely in Dogecoin, making the mission the first of its kind.

Meanwhile, Musk has crowdsourced ideas for the development of Dogecoin and even promised to work with Dogecoin's development team to improve the blockchain. His actions could also be said to have inspired other famous celebrities and influential people, such as Mark Cuban and Snoop Dogg, to support Dogecoin.

Musk's actions, however, have not been welcomed by all. He has often been accused of manipulating Dogecoin with his comments, a claim echoed by Dogecoin co-founder Jackson Palmer, who left the project in 2015.

What is Dogecoin's GigaWallet project

The Dogecoin team has often reiterated its commitment to making sure that Dogecoin has utility beyond just being a popular meme. As such, they've embarked on several projects to improve the usefulness of the memecoin. One such project is GigaWallet, which aims to build an enterprise-grade service that merchants can easily adopt to accept and process Dogecoin transactions.

What is the Dogecoin Standard

The Dogecoin Standard refers to the specifications and rules that define how the cryptocurrency operates, including its consensus algorithm, block time, mining reward, and other technical details. It's the foundation that allows the Dogecoin network to function as a decentralized and secure system for transferring value.

What Is Dogecoin's Libdogecoin

Libdogecoin is an open-source software library that provides developers with the tools and resources they need to build decentralized finance (DeFi) applications and services that interact with the Dogecoin network, without the need for them to have extensive knowledge of how Dogecoin works. It's essentially a collection of programming code and libraries that simplify the process of building new software that uses the Dogecoin Standard. With Libdogecoin, developers can easily write code that interacts with the Dogecoin network, creating new applications that allow users to send and receive Dogecoin, manage their wallets, and interact with other users on the network.

DOGE adoption by Tesla, SpaceX, and the Dallas Mavericks

The 2021 bull market brought a surge of interest to Dogecoin, and high-profile examples of the asset's adoption. In March 2021, billionaire Mark Cuban announced that the Dallas Mavericks NBA team would accept DOGE for ticket and product purchases. In just two days, the Mavericks processed a record-breaking 20,000+ transactions in DOGE.

Then, during January 2022, automaker Tesla began accepting DOGE payments for merchandise in its store, as announced a month earlier by CEO Elon Musk. The price of DOGE spiked 11 percent before the feature went live. Musk also announced in 2022 that Tesla's supercharging station in Santa Monica would accept DOGE. What's more, the entrepreneur declared that aerospace company SpaceX will begin accepting DOGE payments for their merchandise, and will fund a mission to the moon called DOGE-1 with DOGE. Several notable companies, like AMC, have followed suit in their acceptance of Dogecoin.

Latest Dogecoin news

March 2024 saw the DOGE price surge to its highest level since December 2021 following speculation the token would be integrated with X. Fueling the move was commentary around X's payment division being awarded new licences in the U.S., which led some to suggest this would open the door to crypto payments on the platform. In the same month, Dogecoin overtook blockchain platform Cardano to become the ninth biggest cryptocurrency by market cap.

In May 2024, Donald Trump announced that he'd begin accepting cryptocurrencies including Dogecoin as political donations, as the Republican presidential nominee signalled his support of digital assets. SHIB, XRP, and BTC were also among the tokens accepted by the Trump campaign towards his election bid. In July 2024, a Bloomberg article spotlighted how migrants in Venezuela have turned to cryptocurrencies including Dogecoin for remittance transfers, citing the low transactions fees involved.

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Learn more about Dogecoin (DOGE)

Dogecoin’s Resilience Amid Musk’s Influence and Geopolitical Uncertainty
Dogecoin’s Resilience Amid Musk’s Influence and Geopolitical Uncertainty
Dogecoin and Elon Musk: A Comprehensive Analysis for 2025 Introduction Dogecoin, the meme-inspired cryptocurrency, has consistently captured the attention of traders, investors, and enthusiasts alike. Its price movements, community-driven appeal, and unique relationship with Elon Musk make it one of the most intriguing assets in the cryptocurrency market. This article explores Dogecoin’s recent price action, Musk’s influence, and the broader factors shaping its future.
Jun 27, 2025|OKX
Dogecoin’s Cardinals Protocol Revolutionizes DeFi While Meme Coins Explore Innovative Use Cases
Dogecoin’s Cardinals Protocol Revolutionizes DeFi While Meme Coins Explore Innovative Use Cases
Dogecoin’s Evolution Beyond Meme Coin Status Dogecoin, once celebrated as the internet’s favorite meme coin, is undergoing a remarkable transformation. With the introduction of the Cardinals Protocol, advancements in its ecosystem, and innovative projects like GoodEgg (GEGG), Dogecoin is positioning itself as a serious contender in the decentralized finance (DeFi) space. This article delves into the Cardinals Protocol, the DogeUni wallet, and the broader implications of Dogecoin’s evolution.
Jun 24, 2025|OKX
Dogecoin’s Journey: From Meme to Market Powerhouse and Its Future in a Changing Crypto Landscape
Dogecoin’s Journey: From Meme to Market Powerhouse and Its Future in a Changing Crypto Landscape
Does Dogecoin Still Have a Future? Dogecoin’s History and Evolution Dogecoin, launched in 2013 as a playful alternative to Bitcoin, has grown into one of the most recognizable cryptocurrencies in the world. Created by software engineers Billy Markus and Jackson Palmer, Dogecoin was inspired by the viral Shiba Inu "Doge" meme. Initially intended as a joke, its approachable branding and low transaction fees quickly attracted a loyal following.
Jun 23, 2025|OKX
The Rise of Meme Coins: Exploring Dogecoin, Shiba Inu, and Emerging Contenders
The Rise of Meme Coins: Exploring Dogecoin, Shiba Inu, and Emerging Contenders
Introduction to Meme Coins: A New Era in Cryptocurrency Meme coins have emerged as one of the most fascinating phenomena in the cryptocurrency space. Unlike traditional cryptocurrencies like Bitcoin and Ethereum, meme coins are often driven by social media trends, community engagement, and viral marketing. While they may lack the utility of more established digital assets, their ability to capture cultural relevance and generate massive price rallies has made them a focal point for both seasoned investors and newcomers.
Jun 23, 2025|OKX
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Socials

Posts
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 33K new posts about Dogecoin, driven by 9.7K contributors, and total online engagement reached 2.8M social interactions. The sentiment score for Dogecoin currently stands at 82%. Compared to all cryptocurrencies, post volume for Dogecoin currently ranks at 906. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Dogecoin.
Powered by LunarCrush
Posts
32,617
Contributors
9,706
Interactions
2,833,206
Sentiment
82%
Volume rank
#906

X

Posts
28,721
Interactions
2,507,696
Sentiment
83%

Dogecoin FAQ

What was Dogecoin's all-time high price?

DOGE recorded its all-time high on May 8, 2021, when it reached $0.74. The all-time high is the highest price ever recorded for Dogecoin since its launch. At the time, the market capitalization of Dogecoin reached $82.43 billion.

What is the total supply of DOGE?

Dogecoin has adopted an inflationary model, meaning that the DOGE supply is designed to increase over time. Therefore, there is no maximum hard cap on the supply of DOGE. Miners receive 10,000 DOGE tokens every minute, and 5 billion tokens are added to circulation annually. As of September 2022, over 132 billion DOGE tokens were in circulation.

Does Dogecoin have any uses?

Although DOGE was created with no vision for long-term growth or adoption, its community has focused on increasing its real-world usage over time. For example, DOGE can be used to purchase movie tickets, Tesla merchandise, or even tip Twitter users.

Will Dogecoin become environmentally friendly?

Like its peers that use the Proof of Work (PoW) mining algorithm, Dogecoin has been the subject of criticism for its substantial carbon footprint. The development team has since responded by announcing that the project will migrate its consensus model to the more environmentally-friendly Proof of Stake (PoS) consensus mechanism.

Where can I buy DOGE?

Easily buy DOGE tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include DOGE/USDT, DOGE/USDC.

You can also buy DOGE with over 99 fiat currencies by selecting the “Express buy” option. Other popular crypto tokens, such as Bitcoin (BTC), Tether (USDT), and USD Coin (USDC), are also available.

Alternatively, you can swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for DOGE with zero fees and no price slippage by using OKX Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into DOGE, visit the OKX Crypto Converter Calculator. OKX’s high-liquidity crypto exchange ensures the best prices for your crypto purchases.

How much is 1 Dogecoin worth today?
Currently, one Dogecoin is worth $0.16280. For answers and insight into Dogecoin's price action, you're in the right place. Explore the latest Dogecoin charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Dogecoin, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Dogecoin have been created as well.
Will the price of Dogecoin go up today?
Check out our Dogecoin price prediction page to forecast future prices and determine your price targets.

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ESG Disclosure

ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Asset details
Name
OKcoin Europe LTD
Relevant legal entity identifier
54930069NLWEIGLHXU42
Name of the crypto-asset
Dogecoin
Consensus Mechanism
Dogecoin (DOGE) uses a Proof of Work (PoW) consensus mechanism, similar to Bitcoin, but with some key differences. Core Concepts 1. Nodes and Miners: Nodes: Nodes in the Dogecoin network are computers running the Dogecoin software. They validate transactions, maintain the blockchain, and relay information across the network. Miners: Miners are specialized nodes that solve cryptographic puzzles to create new blocks and validate transactions. This process is known as mining. 2. Blockchain: The blockchain is a public ledger that records all Dogecoin transactions in a series of blocks. Each block contains a list of transactions, a reference to the previous block (hash), a timestamp, and a nonce (a random number used once). 3. Hash Functions: Dogecoin uses the Scrypt hash function, which is different from Bitcoin's SHA-256. Scrypt is designed to be more memory-intensive, making it more resistant to ASIC (Application-Specific Integrated Circuit) mining and encouraging more widespread participation by regular users with less powerful hardware. Consensus Process 1. Transaction Validation: Transactions are broadcast to the network and collected by miners into a block. Each transaction is validated by nodes to ensure it adheres to the network's rules, such as correct signatures and sufficient funds. 2. Mining and Block Creation: Nonce and Hash Puzzle: Miners compete to find a nonce that, when combined with the block's data and passed through the Scrypt hash function, produces a hash below a certain target value. This target value is adjusted periodically to maintain a consistent block creation time. Proof of Work: Finding a valid nonce requires significant computational effort. Once a miner finds a valid nonce, the new block is broadcast to the network. 3. Block Validation and Addition: Other nodes in the network verify the new block to ensure the hash is correct and that all transactions within the block are valid. If the block is valid, nodes add it to their copy of the blockchain, and the process repeats for the next block. 4. Chain Consensus: The longest chain (the chain with the most accumulated proof of work) is considered the valid chain by the network. Nodes always work to extend the longest valid chain. In the case of multiple valid chains (forks), the network will eventually resolve the fork by continuing to mine and extending one chain until it becomes longer. Security and Economic Incentives 1. Incentives for Miners: Block Rewards: Miners are incentivized to participate in the network by receiving block rewards. Initially, Dogecoin had a variable block reward, but now it offers a fixed reward of 10,000 DOGE per block. Transaction Fees: Miners also collect transaction fees from the transactions included in the block. These fees provide an additional incentive for miners. 2. Security: Hash Rate and Difficulty: The security of the Dogecoin network is directly proportional to its hash rate, the total computational power of all miners. A higher hash rate means more difficult and costly attacks. 51% Attack: An attacker would need to control more than 50% of the network's hash rate to double-spend or rewrite parts of the blockchain. The cost and resource requirement for such an attack make it impractical for a sufficiently large and decentralized network like Dogecoin. 3. Merged Mining: Dogecoin supports merged mining with Litecoin (LTC). This means miners can mine both Dogecoin and Litecoin simultaneously without additional computational effort. This enhances the security of both networks by pooling their hash rates.
Incentive Mechanisms and Applicable Fees
Dogecoin uses a Proof of Work (PoW) consensus mechanism to ensure network security and integrity, relying on economic incentives for miners and transaction fees from users. Here’s an in-depth look at these mechanisms: Incentive Mechanisms 1. Miners: Block Rewards: Miners receive block rewards for successfully mining new blocks. Initially, Dogecoin had a variable block reward, but it now offers a fixed reward of 10,000 DOGE per block. These rewards are a primary incentive for miners to invest in the computational power necessary to secure the network. Transaction Fees: In addition to block rewards, miners also earn transaction fees from the transactions they include in the blocks they mine. Although Dogecoin’s transaction fees are typically low, they still provide an important supplementary income for miners. Merged Mining: Dogecoin supports merged mining with Litecoin, allowing miners to simultaneously mine both cryptocurrencies without additional computational effort. This process increases the hash rate and security of both networks by pooling their resources. 2. Security: Hash Rate and Difficulty: The security of Dogecoin’s network is directly related to its hash rate, the total computational power used by all miners. A higher hash rate makes the network more resistant to attacks. The mining difficulty adjusts periodically to ensure that blocks are mined approximately every minute, maintaining network stability. 51% Attack Deterrence: Controlling more than 50% of the network's hash rate to perform a 51% attack is costly and difficult. The significant computational power and energy required make such attacks impractical for a large and decentralized network like Dogecoin. Fees Applicable on the Dogecoin Blockchain 1. Transaction Fees: Flat Fee Structure: Dogecoin uses a relatively simple fee structure. The typical transaction fee is 1 DOGE per kilobyte of transaction data. This low fee is one of Dogecoin’s appeals, making it suitable for small and micro-transactions. Incentives for Faster Processing: Although transaction fees are generally low, users can choose to pay higher fees to incentivize miners to include their transactions in the next block, ensuring faster processing times. 2. Mining Rewards: Block Subsidy: The fixed block reward of 10,000 DOGE incentivizes miners to continue securing the network. This reward will persist as Dogecoin does not have a maximum supply cap, ensuring continuous incentives for miners. Fee Inclusion: Besides the block subsidy, the inclusion of transaction fees provides an additional, albeit smaller, incentive for miners to process transactions efficiently.
Beginning of the period to which the disclosure relates
2024-06-14
End of the period to which the disclosure relates
2025-06-14
Energy report
Energy consumption
9533207663.52620 (kWh/a)
Renewable energy consumption
24.134702976 (%)
Energy intensity
0.97138 (kWh)
Key energy sources and methodologies
To determine the proportion of renewable energy usage, the locations of the nodes are to be determined using public information sites, open-source crawlers and crawlers developed in-house. If no information is available on the geographic distribution of the nodes, reference networks are used which are comparable in terms of their incentivization structure and consensus mechanism. This geo-information is merged with public information from Our World in Data, see citation. The intensity is calculated as the marginal energy cost wrt. one more transaction. Ember (2025); Energy Institute - Statistical Review of World Energy (2024) – with major processing by Our World in Data. “Share of electricity generated by renewables – Ember and Energy Institute” [dataset]. Ember, “Yearly Electricity Data Europe”; Ember, “Yearly Electricity Data”; Energy Institute, “Statistical Review of World Energy” [original data]. Retrieved from https://ourworldindata.org/grapher/share-electricity-renewables
Energy consumption sources and methodologies
For the calculation of energy consumptions, the so called “top-down” approach is being used, within which an economic calculation of the miners is assumed. Miners are persons or devices that actively participate in the proof-of-work consensus mechanism. The miners are considered to be the central factor for the energy consumption of the network. Hardware is pre-selected based on the consensus mechanism's hash algorithm: Scrypt. A current profitability threshold is determined on the basis of the revenue and cost structure for mining operations. Only Hardware above the profitability threshold is considered for the network. The energy consumption of the network can be determined by taking into account the distribution for the hardware, the efficiency levels for operating the hardware and on-chain information regarding the miners' revenue opportunities. If significant use of merge mining is known, this is taken into account. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation.
Emissions report
Scope 1 DLT GHG emissions – Controlled
0.00000 (tCO2e/a)
Scope 2 DLT GHG emissions - Purchased
3927644.00922 (tCO2e/a)
GHG intensity
0.40021 (kgCO2e)
Key GHG sources and methodologies
To determine the GHG Emissions, the locations of the nodes are to be determined using public information sites, open-source crawlers and crawlers developed in-house. If no information is available on the geographic distribution of the nodes, reference networks are used which are comparable in terms of their incentivization structure and consensus mechanism. This geo-information is merged with public information from Our World in Data, see citation. The intensity is calculated as the marginal emission wrt. one more transaction. Ember (2025); Energy Institute - Statistical Review of World Energy (2024) – with major processing by Our World in Data. “Carbon intensity of electricity generation – Ember and Energy Institute” [dataset]. Ember, “Yearly Electricity Data Europe”; Ember, “Yearly Electricity Data”; Energy Institute, “Statistical Review of World Energy” [original data]. Retrieved from https://ourworldindata.org/grapher/carbon-intensity-electricity Licenced under CC BY 4.0

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