Dogecoin (DOGE)

Dogecoin was created by engineers Billy Markus and Jackson Palmer in 2013 as an offshoot of a meme (a viral item on the Internet).
Its effigy is the Shiba Inu, a Japanese breed of dog.
Originally a joke, the Doge has gradually established itself as a genuine crypto-asset, even as a potential investment asset.
Such is its popularity that Dogecoin reached a capitalization of $85 billion in May 2021 – its highest level to date.
It subsequently became the 10th most capitalized crypto-asset in September at $26 billion.
Ranked among the top 15 cryptos with the highest capitalization, Dogecoin benefits from an active community, as well as strong media coverage. On August 26, 2024, its capitalization exceeded $15 billion.

Buy DOGE online

If we analyze the project from a fundamental point of view, Doge doesn’t benefit from any great technical features or remarkable tokenomics (i.e., the economic ecosystem of each cryptocurrency).
In fact, prior to this year, its code had not been updated since 2019.
Information about the development team remains very vague.
Unlike Bitcoin, Doge does not benefit from inflation hedging, as its supply of tokens in circulation is unlimited.
Derived from a fork of the Litecoin cryptocurrency, it benefits only from a faster network adapted to high demand.
Indeed, transaction blocks are validated in 1min, compared with 10min for BTC and 2.5min for Litecoin.
For the time being, Dogecoin remains relatively centralized: the top 100 wallets hold over 60% of tokens in circulation.

Dogecoin operates on a decentralized blockchain model similar to Bitcoin, using a Proof of Work mechanism to secure the network and validate transactions.
Each transaction is recorded on a public ledger, the blockchain, and miners solve complex calculations to add new blocks of transactions to the chain.
As a reward, they receive new Dogecoins.
Unlike Bitcoin, Dogecoin has no maximum production limit, meaning that there is continuous inflation in the supply of the currency.
Its community, known for its playfulness and frequent use in online tipping and gifting, contributes to its popularity.

In the absence of solid fundamentals, Doge is a purely speculative asset, fluctuating according to Elon Musk’s moods and prolific tweets.
To date, Dogecoin has mainly been used for payment in the form of donations to content creators.
As such, it is also accepted as a means of payment by certain entities.
For example, the Mavericks Dallas basketball franchise, or one of America’s biggest movie chains, AMC Entertainment.

• Unlimited supply: unlike other cryptocurrencies like Bitcoin, which has a limited supply, Dogecoin has no cap on the total number of tokens in circulation.
  Every year, around 5.2 billion new Dogecoins are created, resulting in continuous inflation.
• Block Reward: Dogecoin uses a Proof of Work mechanism to validate transactions.
  Miners (see Bitcoin mining) who successfully add a new block to the blockchain are rewarded with 10,000 Dogecoins.
• Block time: the time it takes to generate a new block on the Dogecoin blockchain is around one minute, which is faster than Bitcoin (10 minutes).
• Initial distribution: when it was launched in 2013, Dogecoin was distributed through a “mining” mechanism, where users could earn Dogecoins by contributing to network security.
• Usage: Dogecoin is mainly used for online tipping, microtransactions and donations.
  Its moderate but continuous inflation is seen by the community as a way of maintaining the currency’s accessibility.

• Infrastructure improvements: the Dogecoin development team is working on updates to improve network security and efficiency.
  This includes source code improvements to make transactions faster and cheaper.
• Increased adoption as a means of payment: Dogecoin is increasingly being accepted as a means of payment by businesses, both online and offline.
  Partnerships with e-commerce platforms and service providers are underway to integrate Dogecoin as a payment option.
• Charitable and social initiatives: the Dogecoin community continues to organize and support charitable projects.
  In the past, it has funded causes such as the provision of drinking water in Africa and support for Olympic athletes.
  In 2024, new charitable and humanitarian initiatives are planned.
• Expanding the DeFi ecosystem: although Dogecoin was not initially designed for decentralized finance (DeFi), there are discussions and plans to integrate Dogecoin into the DeFi ecosystem, enabling the use of Dogecoin in staking, lending protocols, and other decentralized financial services.
• Education and awareness: as adoption increases, efforts are being made to educate users about Dogecoin, its risks and opportunities, via educational campaigns and collaborations with influencers and educators in the crypto space.

• Registration :
  • Create an account on the Coinhouse platform by providing your personal details.
    It only takes a few minutes.
• Verification :
  • Verify your identity by following the instructions provided by Coinhouse.
    You will usually be asked to provide proof of identity and residence.
• Cash deposit :
  • Deposit funds into your Coinhouse account.
    You can use payment methods such as bank transfer or credit card to fund your euro account.
• Buy Dogecoin:
  • Once the funds are available in your account, search for Dogecoin (DOGE) in the list of available cryptocurrencies.
    Select the amount of DOGE you wish to purchase and confirm the purchase.
    You can use USDC to buy DOGE.
• Secure storage :
  • Coinhouse offers a secure wallet service to store your Dogecoins.
    You can also transfer your DOGEs to an external crypto wallet if you prefer to manage your cryptocurrencies elsewhere.

Dogecoin can be an attractive investment for those looking for an accessible cryptocurrency backed by an active community.
However, it’s important to note that Dogecoin is often perceived as a speculative cryptocurrency, with significant price fluctuations influenced by social and media trends rather than solid fundamentals.
Its actual utility remains limited compared to other cryptocurrencies, making it a riskier choice for long-term investors.
Before investing, it’s crucial to assess your risk tolerance and diversify your portfolio.