You’ve undoubtedly heard about the king of meme coins called Dogecoin. Unlike most other cryptos that were created in order to facilitate transactions as a legitimate substitute for fiat currencies, the cryptocurrency that was made to be a joke but has become a legitimate investment. However, do you know how many Dogecoins there are?
This is one of the many questions we answer in this piece. So, keep reading to learn all the fantastic facts and numbers about the favorite cryptocurrency of Shiba Inus worldwide.
How Many Dogecoins Are There?
The total number of Dogecoins worldwide is more than 132 billion. This number also represents the total number of Dogecoins in existence and circulation, or in other words, available to the public.
Facts and Numbers on the Dogecoin Cryptocurrency
The number of Dogecoins is not the only interesting thing about the meme coin. There are other numbers and facts about its origins, value, etc.
1. One Dogecoin is worth less than a dollar.
If we were to ask the official Dogecoin website, Dogecoin.com, 1 DOGE is worth 1 DOGE. In reality, though, it’s generally priced between a few cents and $0.70. At the time of writing, a single DOGE was worth $0.14.
2. The price of Dogecoin might reach a single US dollar in 2030.
(Changelly, 2022, Trading Education, 2022)
The potential of Dogecoin is not high, mainly because it’s designed to be a joke. However, it has surprised us in the past, as it used to be worth a fraction of a cent for a long time. That’s why others think that its price might reach $10 or even $15 by 2030.
However, you shouldn’t make investments based on these predictions because, in the end, Dogecoin’s price might hit the bottom as well.
3. Around 10,000 new Dogecoins are made every minute.
(CNBC Make It, 2021)
This equates to 15 million DOGE per day and more than 5 billion per year. The future of Dogecoin seems bright, at least when we consider the sheer number of coins.
4. Dogecoin doesn’t have a capped supply like Bitcoin and many other cryptocurrencies.
(CNBC, 2021) (Trading Education, 2022)
There is no Dogecoin cap, at least until and if the network agrees to implement one, which means that the maximum supply of DOGE is limitless for now.
The lack of a hard cap is why Dogecoin has an insane inflation schedule and why it’s so cheap. Theoretically, we could never run out of Dogecoins, which is why its price could never rise to significant heights.
Interestingly, the lack of a supply cap is one of the main differences between Dogecoin and Bitcoin. Of course, there are other differences in the Dogecoin vs Bitcoin comparison, including block time, transaction speed, and the purpose of the coins.
5. There is no limit to how many Dogecoins you can mine in a day.
(iTech Post, 2021)
As there is no maximum supply cap, there is no cap to how many coins a miner can mine every day. New blocks on the Dogecoin network are found every minute, meaning that you can get 1 DOGE every minute.
The difficulty level is constantly changing, though, so we can’t tell precisely how many Dogecoin one can mine. However, the average DOGE miner usually finds more than 90 coins every day.
6. Dogecoin is primarily used to tip users on platforms like Reddit and Twitter.
(Economics Observatory, 2021)
Besides tipping, people invest and trade Doge or use it on various sites as a payment method. You can buy various household supplies, food, and even website domains with it.
The meme coin is also very popular in online gambling sites where you use it to make deposits, withdraw funds, and play games. It’s one of the most popular cryptocurrencies on Bitcoin poker sites, Bitcoin roulette sites, and other crypto-based online casinos.
7. Dogecoin was created by Jackson Palmer and Billy Markus.
Originally, it was Jackson Palmer, a product manager for Adobe Inc. in Sydney, Australia, who created Dogecoin. He was joined by Billy Markus, now known as Shibetoshi Nakamoto, a software developer working at IBM in Portland, Oregon, who offered to create the actual crypto.
Billy Markus based Dogecoin on Litecoin and launched it in late 2013. He and Jackson wanted to create a joke coin that would make fun of the insane speculatory behavior surrounding cryptocurrencies.
8. Elon Musk owns only three cryptocurrencies, and one of them is Dogecoin.
(CNBC Make It, 2021)
The CEO of Dogecoin, as he is sometimes called, owns only three different coins, as he himself has said. As he stated on Twitter in October 2021, he bought some Bitcoin, Ethereum, and Dogecoin. However, he didn’t say how much.
9. The top investor in Dogecoin owns 30.78 billion Dogecoins.
The Dogecoin top holders are unknown, unfortunately. There is no way to learn who the biggest holders are unless they reveal themselves, and they haven’t yet.
Despite that, we know that the biggest owner of Dogecoin holds 23.14% of all DOGE in existence.
Now you know the total number of Dogecoin and that this number will only get higher as time passes. We also hope you had fun reading the other interesting facts about the meme coin!