What is Dogecoin
Dogecoin (DOGE) appeared in December 2013 as a joke: programmers Billy Markus and Jackson Palmer created a cryptocurrency based on the popular meme of a Shiba Inu dog. The project was meant as a fun alternative to serious cryptocurrencies, but it quickly gained a huge community and became one of the most recognisable coins in the world.
Technically, Dogecoin is based on Litecoin’s code and uses the same Scrypt algorithm, and it’s often mined together with Litecoin. Blocks come roughly once a minute and fees are low. Unlike Bitcoin, Dogecoin has no supply cap: a fixed number of new coins is issued every year, so DOGE was designed more for spending and tipping than for saving.
Key facts
| Parameter | Value |
|---|---|
| Ticker | DOGE |
| Network at ROVEN exchange | Dogecoin (mainnet) |
| Address format | Usually starts with “D”, 34 characters |
| Block time | About 1 minute |
| Supply | Uncapped, 10,000 DOGE per block |
| Network fee | Paid in DOGE, usually low |
| Memo / tag | Not needed |
What Dogecoin is used for
- Tips and small payments. Low fees and fast blocks make DOGE handy for small transfers.
- Paying for goods and services. A number of shops and services accept Dogecoin.
- Speculation. DOGE is known for high volatility and sensitivity to news and social media.
- Community. Dogecoin has one of the most active crypto communities, known for charity fundraisers.
How to exchange Dogecoin at ROVEN exchange
- Choose a direction, for example DOGE → USDT TRC20 or USDT TRC20 → DOGE, and enter the amount.
- If you’re receiving DOGE, enter a Dogecoin wallet address — it usually starts with “D”.
- Create the order — the rate is locked for 30 minutes — and send the exact amount to the address in the order.
- Dogecoin produces a block roughly every minute, so crediting usually takes a few minutes.
What to watch out for
- The DOGE price can change sharply in a short time — the fixed rate in your order protects you during the payment window.
- Don’t confuse DOGE on the Dogecoin network with “wrapped” versions on other blockchains, such as BEP20. At ROVEN exchange, DOGE is accepted and paid out on the Dogecoin mainnet.
- As with Bitcoin, the fee depends on transaction size, not on the amount.
- Check the address after pasting: the Dogecoin address format resembles other Bitcoin-based networks.
Dogecoin’s inflation: plus or minus
Every minute, 10,000 new coins enter the Dogecoin network — about 5 billion a year. Relative to the growing total supply, this inflation shrinks in percentage terms over time. Supporters argue that steady issuance encourages spending rather than hoarding and keeps miners rewarded. For an investor, it means DOGE works differently from “scarce” coins like Bitcoin and Litecoin.
How to store Dogecoin
DOGE is supported by Dogecoin Core, Trust Wallet, Exodus and the Ledger and Trezor hardware wallets. Choose a hardware wallet for large amounts and a mobile wallet for everyday payments. Keep your seed phrase offline and never share it, not even with “support”.
Frequently asked questions
How long does a DOGE transfer take?
A block comes roughly every minute, so a transfer is credited within a few minutes, and the whole swap usually takes 10–20 minutes.
Does Dogecoin need a memo?
No. Every recipient on the Dogecoin network has their own address; no memo is used.
Can I receive DOGE on an exchange address?
Yes. Enter your exchange’s DOGE deposit address on the Dogecoin mainnet and check that the exchange accepts DOGE on that network.