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What’s Behind the DOGE Hype?


Dogecoin, or DOGE, is an open-source cryptocurrency and one of the most significant digital currencies by market capitalization. It is already used worldwide on the Internet. Moreover, a lot of exchanges today offer to convert DOGE to SHIB and other tokens. 

Its technical side is based on Litecoin, so all updates and modifications for the Litecoin framework will also apply to DOGE. 

The key reason that Dogecoin was created is to refrain from introducing any new groundbreaking technology. It is instead to offer users a simple-to-use platform for transactions. As a result, DOGE has a strong and wide database of clients who use it as an asset that isn’t a speculative coin. 

Let’s look a bit closer at the coin and see if it is worth the hype. 

What Makes Dogecoin Stand Out from Other Cryptocurrencies?

In simple words, DOGE was created as a more lighthearted version of the cryptocurrencies we know since 2014 and came into existence from a meme. These days Dogecoin is abundant, with nearly 10.000  being mined every minute. What is interesting, it is intentional that the currency has no maximum supply. 

It was made to be this abundant as the opposite of the scarce Bitcoin. 

Relation Between Dogecoin and Inflation: Can We Know for Sure?

Cryptocurrencies are the asset group that relies on inflation, so they are very closely connected. When the price pressure gets stronger, crypto grows in price as well. This сomes in handy when an investor wants to protect their wealth and tuck away their finance into something able to outgrow the inflation rise. 

Dogecoin stands out as an inflationary currency, not deflationary, unlike many other coins. This means that the coin’s value is bound to increase over time. 

However, it is arguable that any crypto can remain inflation-resistant. In the end, the currency has to be stable, and we don’t always see it in the performance of cryptocurrency.

How Exactly Does Dogecoin Work?

So, on the practical side, Dogecoin is meant to be used for safe online payments, just like Bitcoin. In January 2022, Tesla started accepting Dogecoin as a payment method for some of its products. That proves huge support by the community and the most promising future. 

Technically, it is the fork of Litecoin and Luckycoin. Its creators modified the code not much. They made it maintain the scrypt algorithm and consensus process. 

In Dogecoin’s network, transactions are collected in blocks. Then they are distributed to miners to undergo the validation procedure. The network is open-source, so it allows anyone to introduce updates and new features if the majority of nodes in Dogecoin’s network accept them. 

Where to Exchange Crypto Coins for DOGE in a Safe Way?

Dogecoin can either be bought with fiat currency or received as a result of the exchange process. The currency is available on many exchange platforms. It is quite a nice asset for active trading because of its frequent price movements. 

To get DOGE or swap other digital coins like NEAR vs AVAX, one should take a few steps: 

  1. Register on an exchange service that supports the currency. 
  2. Go through the necessary verification. 
  3. Deposit fiat or cryptocurrency needed for the transaction.
  4. Specify the amount of the target coin (DOGE, AVAX, etc.) to place the order and see the exact sum you will get. 
  5. Get the coins and transfer them to your crypto wallet for better security. 

If there’s trouble finding a platform that would offer safe transactions and access to lots of tokens, consider using This place provides crypto-to-fiat and fiat-to-crypto transactions and fast swaps without registration. It offers nearly 1.500 coins and tokens to buy and convert. 

One thought on “What’s Behind the DOGE Hype?

  1. “So, on the practical side, Dogecoin is meant to be used for safe online payments, just like Bitcoin.”

    I have been using US Dollars for pretty much all of my on-line transactions for many years. It works pretty well, you should try it.

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