Dogecoin price and where to buy DOGE

What is Dogecoin?

Dogecoin started as a joke, a cryptocurrency named after the Shiba Inu “doge” internet meme, and became one of the most traded coins in the market. Technically it is a close relative of Litecoin: proof of work with the Scrypt algorithm, merge-mined alongside Litecoin, with a new block about every minute.

The big difference is supply. Dogecoin has no cap. Every block pays a fixed 10,000 DOGE, which adds about 5 billion coins a year. Because that number is fixed while the total keeps growing, the percentage inflation falls slowly over time.

How to buy Dogecoin, step by step

1. Pick an exchange. Every exchange we track lists DOGE. Compare fees, funding options and whether it serves your country in our exchange reviews.
2. Create and verify your account. Regulated exchanges ask for identity documents before you can deposit fiat.
3. Fund the account. A bank transfer or a stablecoin deposit usually costs far less than a card payment.
4. Buy DOGE. Use the DOGE/USDT or DOGE/USD market. Check the cheapest venue in the table above first; on Dogecoin the venues disagree more than on most large coins.
5. Decide where to keep it. On the exchange is simplest, but the exchange then holds your coins. Withdrawing to a Dogecoin wallet you control costs a small network fee.

What it costs to buy Dogecoin

Three costs add up. The trading fee is usually around 0.1 percent on a spot market. The funding method can cost far more: card purchases often add several percent, while a bank transfer or stablecoin deposit is usually cheap or free. And the venue’s price itself can sit above the market: on Dogecoin the gap between exchanges averaged about 0.06 percent in our measurement and went above half a percent in about 15 minutes out of every thousand.

On a $100 purchase with a card, the card fee alone is likely to cost more than every other cost combined.

Where to buy Dogecoin at the best price

Every exchange we track lists DOGE, and the cheapest one right now is marked in the table above. On Dogecoin the price gap between venues is wider than on Bitcoin or Ethereum and spikes more often, so the table is worth checking before a large purchase.

• The price on that venue. Each row shows the gap to our composite.
• The trading fee. Our fee comparison lists spot fees side by side.
• How you fund the account. A bank transfer or stablecoin deposit is usually far cheaper than a card payment, which often costs several percent.

Why the Dogecoin price differs between exchanges

In our minute-by-minute measurement the gap between the highest and lowest venue averaged about 0.06 percent. Bitcoin averaged about 0.025 percent. The bigger difference is in the spikes: Dogecoin’s gap went above half a percent in about 15 minutes per thousand, against about one per ten thousand for Bitcoin, and reached about 3.4 percent at its widest.

Dogecoin trades in bursts, and when buying or selling floods in, the venues do not reprice in lockstep. The spread figure at the top of this page is the live measurement; our guide on why crypto prices differ between exchanges explains the mechanism.

What moves the Dogecoin price

The wider crypto market first. In our hourly composite, Dogecoin moved with Bitcoin at a correlation of about 0.69, where 1 would mean identical moves, and its moves were about twice the size of Bitcoin’s. Whether DOGE goes up depends mostly on where the whole market goes, and we do not forecast that.

On top of that, its gap between exchanges spikes more often than on almost any other large coin we track, a pattern consistent with sudden bursts of buying or selling hitting separate order books. The funding rates on this page show whether leveraged traders are paying to be long or short.

Pros and cons of Dogecoin

Pros

• Fast blocks, about one a minute, and low network fees.
• Listed on every exchange we track, with deep volume.
• Simple, predictable issuance: 10,000 DOGE per block.

Cons

• No supply cap: about 5 billion new DOGE a year dilute existing holders.
• Its hourly moves were about twice Bitcoin’s in our data.
• Its price gap between exchanges spikes often, up to about 3.4 percent at the widest we measured.
• Little use beyond payments and trading; no general-purpose smart contracts.

Dogecoin compared with Litecoin and Bitcoin

The DOGE to USD converter applies our live price to any amount, and the Litecoin page covers Dogecoin’s closest technical relative.