How much is dogecoin worth: the power of a joke

‘What is the price of dogecoin’ and ‘What is the value of dogecoin’ are two fundamentally different questions.

As a rule, projects that are built with short-term profit in mind are not very durable. Community soon recognizes that they give away more than they receive and leave it for good. However, profits are crucial for development of any project and its developers do their best balancing the value they bring with the price they set.

Dogecoin was created as a joke in 2 hours. It was a mockery towards bitcoin, and who would think that the price of doge, its recognition, and its market capitalization will skyrocket since 2013?

How much is dogecoin worth?

Institutional investors and serious traders never took Doge too seriously. Because of comparably high emission rates that are connected to the ease of mining, Doge price could never beat that of Bitcoin or Ethereum. So, first and foremost, holding Doge showcases the privilege of belonging to its community.

The fans realize it. Their optimistic motto, “To the Moon!” is a joke, too. They never really bothered how much is dogecoin worth. But don’t worry, we will give the actual numbers in a moment.

Dogecoin has been noticed in many charity projects. It really used to be so cheap people didn’t care to spend some of it for various good causes like donating for cancer cures, water supply infrastructure in Kenya or just buying dogs for children.

Spending considerable sums through Doge donations is not unheard of, too. The @tipdoge Twitter bot allows to send doge tips with tweets, and here is an example of a $11,000 donation that helped address the abovementioned water problems in Africa.

As you can see, people who never wondered how much is dogecoin worth and never even knew about Doge, benefit from it. Although it started out from nowhere as a joke, without ambitious roadmaps, it makes some serious impact.

To reiterate: the price of Doge is being held up by its community. And it so happened that one of the greatest entrepreneurs of our time, Elon Musk, chose to be a part of that community. It might be exactly because of how open, lighthearted, and inclusive it is.

Now, even though some traders keep repeating that the real price of Dogecoin is zero, they should not underestimate the factor of Mr. Musk’s support. Each of his crypto-related tweets disrupts the market, pumping doge or inducing Fear, Uncertainty, and Doubt.

What is Dogecoin worth? It will be determined not only by mere attention of Mr. Musk but by possible investments and subsequent blockchain upgrades or ecosystem expansion. Sure, DOGE-1 mission may literally fly to the Moon, which would be a great joke and an incredibly serious accomplishment at the same time. But it is impossible to predict the level of personal involvement of each party. But the community of Doge is not going anywhere no matter what.

What is dogecoin worth in numbers?

As promised, here is a quick FAQ with measurable indicators of Doge’s success.

How much is a dogecoin worth?

Currently trading at $0.3 per coin (late May 2021), it has seen an all-time high of $0.6 weeks before. Most of its time in existence, it costed only fractions of a cent.

How much dogecoin is there?

There currently are more than 129 trillion DOGE in existence. The max supply is not limited.

Multiplying the price by a current circulating supply, we get roughly $40 trillion market capitalization, and the 6th position in the global crypto ranking.

The data was kindly provided by Coinmarketcap.

Although formally it is not adequate to talk about a “stock” in the context of crypto, because a given cryptocurrency should not be identified with a company that develops it (if any!), we could compare a stock to a market capitalization. So what is dogecoin stock?

What is dogecoin stock?

That would be a useful question to a trader who wants, figuratively speaking, to “invest in Doge stocks”, or “buy the shares of Doge”. It means the same thing as simply buying Doge.

And why would one do it? Either because they believe such an act will profit them when the Doge price goes up, or they want to be a part of its community to identify oneself with it. Spend Doge in the Doge holder fashion. Demonstrate the Do Only Good Everyday attitude.

Considering everything we said above concerning the power of community, owning some of the dogecoin has inherent worth regardless of the market price.