What is Dogecoin (DOGE)
Dogecoin is a popular peer-to-peer, open-source cryptocurrency. The creation of Dogecoin was originally seen as a joke since the cryptocurrency referenced the internet meme of a Shiba Inu dog. Dogecoin was never designed to have any real-world utility, however, since its launch in 2013, the project has amassed a large, loyal community and is often within the top ten cryptocurrencies by market cap.
Dogecoin (DOGE) is a form of digital currency used for peer-to-peer transactions of goods, services and other currencies (I.e Australian dollars). Reddit users can also use DOGE for “tipping” users that create or share great content.
Like many other memecoins, DOGE has a high supply and low price, which can make it a useful option for sending small crypto transactions.
To learn more about Dogecoin check out our guide to Dogecoin on Swyftx Learn
Dogecoin Price Chart Explained
The Dogecoin price chart can be used by traders to track the price of DOGE all the way back to its release in 2013. Users can view Dogecoin's performance using custom timeframes and daily pricing candles.
Candlestick charts are a great tool for traders and investors to perform crypto technical analysis. Candlestick charts track an asset's price movements based on a specific trading interval, whether it is hourly, daily or monthly.
To learn more, check out our guide to candlestick charts on Swyftx learn.
Who created Dogecoin (DOGE)
Dogecoin was created by American programmer, Billy Markus, who wanted to make a “joke currency.” Billy Markus worked alongside Jackson Palmer, an Australian product manager at Adobe. The pair began work on DOGE in early 2013 and launched the cryptocurrency in December of that year. Two weeks after Dogecoins launch the asset jumped 300% in price, once word spread rapidly across social media and Reddit. Within months Dogecoin's market capitalisation had hit several million dollars.
