![]() □ The Bloom Coins you earn can be spent within the app □ and converted into DOGE. The more you use your card, the more Bloom Coins you will earn. With every purchase, you will earn Bloom Coins by simply using your Visa card □. ![]() □ All you need to do is download the Bloom app, register an account, link your Visa card and shop anywhere using your credit or debit card. □The Bloom shopper rewards app allows you to earn Dogecoin and other crypto (like Bitcoin, Ethereum and a range of other altcoins) with every purchase made on your Visa card □. As the popularity of Dogecoin increased in 2021, the Dogecoin value reached an all time high price of USD$0.58 in May of that year. DOGE experienced an early peak of USD$0.013 in early 2018. When Dogecoin initially launched in late 2013, it had a minimal value that fluctuated between USD$0.0002 and USD$0.0039 for its first few years of trading (through to late 2017). Bitcoin, on the other hand, has a finite supply and is considered “deflationary”. Its Shiba Inu dog mascot is synonymous with the cryptocurrency’s brand and lends itself well to the internet meme culture that serves the online crypto community.Īs Dogecoin has an infinite supply, it is considered an “inflationary coin”. Dogecoin uses Litecoin's scrypt technology.ĭogecoin markets itself as a “fun” version of Bitcoin. Initially, this used a randomized reward for block mining, but was later changed to a static reward early in its development. New Dogecoin is released via cryptocurrency mining (this process is explained in detail in our Bitcoin Mining article).ĭogecoin's code is based on Luckycoin, which is derived from Litecoin. The Dogecoin blockchain uses a Proof-of-Work (PoW) consensus mechanism (similar to Bitcoin). ⛏️ Like many other coins, Dogecoin runs on its own dedicated blockchain. The current market capitalization of Dogecoin is approximately USD$10.63 billion. The current total supply of Dogecoin is 132.67 billion DOGE and is in full circulation. With Musk’s recent acquisition of Twitter, it is speculated that DOGE may form part of a wallet feature for a potential Twitter cryptocurrency.ĭogecoin does not have a fixed max supply. Since mid 2021, Dogecoin has consistently been polling among the top ten cryptos by total market capitalization.Īs a testament to the popularity of Dogecoin, Elon Musk’s Tesla corporation accepts DOGE as a form of payment. Tesla, SpaceX and now Twitter CEO, Elon Musk, has also been partially responsible for the massive growth of the Dogecoin value after calling it his favorite cryptocurrency. It was created initially to poke fun at Bitcoin and garnered a cult-like following early on that fostered a community of DOGE enthusiasts who engineered publicity stunts to raise the cryptocurrency’s profile. This effectively became the Dogecoin mascot. Palmer branded the cryptocurrency’s logo using a meme popular at the time that featured the deliberately misspelled word “doge” to describe a Shiba Inu dog. Software engineers Jackson Palmer and Billy Marcus (who also goes by the moniker “Shibetoshi Nakamoto”), created Dogecoin in late 2013. The DOGE token is the native cryptocurrency of the Dogecoin blockchain. ![]() It is widely credited as the first memecoin. □ Dogecoin is an open-source peer-to-peer digital currency that utilizes blockchain technology. Here is our brief guide to get you on a clearer path to understanding. □ In this article, we’ll take a closer look at the meme-based cryptocurrency – Dogecoin and provide information on what it is and how it works. In previous blog articles, we’ve covered a broad view of cryptocurrency and offered a closer look at Bitcoin, Ethereum and other altcoins. ![]()
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