A Deeper Look at Crypto's 'Underdog': Dogecoin Explained
Friday,29/06/2018|09:38GMTby
Bogdan Kagan
Breaking down the coin which initially started as a joke, but has gained substantial traction.
FM Studio
History and About
The coin know by the name of DOGE commenced its life as a humorous concept rather than a serious project. It was developed in Oregon by Billy Markus as an amusing cryptocurrency which got its name from a meme of the famous Shiba Inu dog, referred to across the internet as 'doge.'
Known by the ticker DOGE, this digital coin began its life as a joke. Developed by Billy Markus in Oregon, this coin was designed to be just a fun currency and was named after the doge meme of Shiba Inu. However, Markus had no idea that this fun currency of his would achieve a permanent status in the crypto world. It was founded as far back as December 2013 but was able to gain traction in the markets and make around $60 million worth of capitalization back in 2014.
Beyond the original team, Dogecoin has a large team of developers working behind it as well such as Jackson Palmer who is based in Sydney and has contributed significantly to the development of the coin. It was him who purchased the domain name for dogecoin.
How Does it Work?
Dogecoin is akin to Bitcoin in the way its technology functions in the sense that it is a digitally stored and works on the basis of P2P and decentralization to allow people to send money with minimal hassle and maximum simplicity. The coin stands out from the Cryptocurrencies due to its viral nature, it is not supposed to be taken seriously but is instead supposed to evoke positive emotions in users. Because of this unique aspect, the coin has built up a large online community with extremely loyal support.
Dogecoin stands out from Bitcoin in the sense that it uses the Scrypt algorithm rather than the more common SHA-256 one. The mining process is similar to other cryptocurrencies however in the sense that miners are rewarded in the currency for mining blocks of the coins, but apart from the different system, there are many similarities. This difference is also what differentiates the Dogecoin from the BTC on the level of the algorithm, here in the sense the codes of the two currencies.
In terms of transaction fees, Dogecoin has one of the lowest fees available on the market, which makes it stand out from its potential competitors. The charges for certain transactions can be as low as $0.01, which is clearly something that would appeal to customers. One of the major drawbacks of many cryptos is the high fees and lengthy processing times, but Dogecoin aims to tackle both of these together.
Dogecoin as an Investment
coinmarketcap
Dogecoin is in the top 40 when it comes to cryptocurrencies worldwide, and it has a market cap of around $283,100,035, making it a major player in the crypto world, though not one of the leading cryptocurrencies. Its 24-hour trading volume at the time of writing was at $3,514,800. The value of the coin has fallen in recent years, and it had seen a decrease in popularity of substantial measures in the last few years much like most other cryptocurrencies due to the crashes and clampdowns in regulations.
With that said, the coin has maintained a level of relevance and is available on numerous exchanges such as Poloniex, Bittrex, and HitBTC. Dogecoin strengthens its legitimacy by having its own native crypto wallet available to enhance the usage of the currency.
In addition to this, however, the currency can be stored across a large number of online wallets as well as offline wallets. It would be useful to have a small amount of currency online for purchases, but the vast majority of your funds should be stored offline to avoid the risk of being hacked and having your currency stolen. Ledger and Jaxx are just two of the major wallets that are built for the storage of the Dogecoin.
Ultimately, the adoption rates of cryptocurrencies can continue to rise. As such, if the rise in the usage of Bitcoin were to slow down, then there is a lot of potential for another cryptocurrency to fill this void. This other currency could easily be Dogecoin given for how long it's been around. While the currency may have started as a joke, it is very far from that at this moment in time.
History and About
The coin know by the name of DOGE commenced its life as a humorous concept rather than a serious project. It was developed in Oregon by Billy Markus as an amusing cryptocurrency which got its name from a meme of the famous Shiba Inu dog, referred to across the internet as 'doge.'
Known by the ticker DOGE, this digital coin began its life as a joke. Developed by Billy Markus in Oregon, this coin was designed to be just a fun currency and was named after the doge meme of Shiba Inu. However, Markus had no idea that this fun currency of his would achieve a permanent status in the crypto world. It was founded as far back as December 2013 but was able to gain traction in the markets and make around $60 million worth of capitalization back in 2014.
Beyond the original team, Dogecoin has a large team of developers working behind it as well such as Jackson Palmer who is based in Sydney and has contributed significantly to the development of the coin. It was him who purchased the domain name for dogecoin.
How Does it Work?
Dogecoin is akin to Bitcoin in the way its technology functions in the sense that it is a digitally stored and works on the basis of P2P and decentralization to allow people to send money with minimal hassle and maximum simplicity. The coin stands out from the Cryptocurrencies due to its viral nature, it is not supposed to be taken seriously but is instead supposed to evoke positive emotions in users. Because of this unique aspect, the coin has built up a large online community with extremely loyal support.
Dogecoin stands out from Bitcoin in the sense that it uses the Scrypt algorithm rather than the more common SHA-256 one. The mining process is similar to other cryptocurrencies however in the sense that miners are rewarded in the currency for mining blocks of the coins, but apart from the different system, there are many similarities. This difference is also what differentiates the Dogecoin from the BTC on the level of the algorithm, here in the sense the codes of the two currencies.
In terms of transaction fees, Dogecoin has one of the lowest fees available on the market, which makes it stand out from its potential competitors. The charges for certain transactions can be as low as $0.01, which is clearly something that would appeal to customers. One of the major drawbacks of many cryptos is the high fees and lengthy processing times, but Dogecoin aims to tackle both of these together.
Dogecoin as an Investment
coinmarketcap
Dogecoin is in the top 40 when it comes to cryptocurrencies worldwide, and it has a market cap of around $283,100,035, making it a major player in the crypto world, though not one of the leading cryptocurrencies. Its 24-hour trading volume at the time of writing was at $3,514,800. The value of the coin has fallen in recent years, and it had seen a decrease in popularity of substantial measures in the last few years much like most other cryptocurrencies due to the crashes and clampdowns in regulations.
With that said, the coin has maintained a level of relevance and is available on numerous exchanges such as Poloniex, Bittrex, and HitBTC. Dogecoin strengthens its legitimacy by having its own native crypto wallet available to enhance the usage of the currency.
In addition to this, however, the currency can be stored across a large number of online wallets as well as offline wallets. It would be useful to have a small amount of currency online for purchases, but the vast majority of your funds should be stored offline to avoid the risk of being hacked and having your currency stolen. Ledger and Jaxx are just two of the major wallets that are built for the storage of the Dogecoin.
Ultimately, the adoption rates of cryptocurrencies can continue to rise. As such, if the rise in the usage of Bitcoin were to slow down, then there is a lot of potential for another cryptocurrency to fill this void. This other currency could easily be Dogecoin given for how long it's been around. While the currency may have started as a joke, it is very far from that at this moment in time.
Colombia Gets Local Crypto Access Through Kraken Following Its MiCA Approval
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Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
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-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
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#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
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As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
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This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
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-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
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Speakers:
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#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
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Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
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#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
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-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
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#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
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-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
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#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
