The memecoin genre in the crypto space has been nothing but an “adventurous” ride. And, of course, in the front-most seat, we’ve got the leader of the pact – Dogecoin. However, there actually is more than one, so how many Dogecoins are there? The current circulation supply of Dogecoin is 133 billion DOGE.
Memecoins are a whole sub-genre in the crypto industry that went on a rampage back in 2021. If you are a crypto enthusiast, you’ve probably heard about most of the popular ones such as Dogecoin, Shiba Inu Coin, Dogelon, etc. However, there are some people who’ve only heard of Bitcoin, Ethereum, and Dogecoin.
This easily provides insight on how dominant memecoins are, which is not surprising considering the day and age we live in.
Interestingly enough, the circulation supply of memecoins is pretty interesting. But what is a “cryptocurrency’s circulation supply” in the first place? Well, let’s explain.
About Token Circulation Supply
The “Circulating Supply” of a cryptocurrency is the total number of coins/tokens that are actively available for trade and being used in today’s market.
When a company decides to create a cryptocurrency, it sets the number of tokens during the development process. Some create cheap cryptocurrencies with a supply in the billions. Others create expensive cryptocurrencies with a supply of only a couple of millions.
Aside from that supply, there is no hidden one that the developers can abuse against the public’s interest. However, the creators of a token can keep a big chunk of the supply for themselves and essentially become “whales”. Whales are those who own a significant amount of any crypto and can easily influence its price whenever they sell/buy.
Those people are usually ones with an incredible budget as well.
The circulation supply of a token is quite important for a couple of different reasons. However, the main one is that if there is no maximum supply, in other words, they create more tokens, the price evaluation could significantly drop.
A great example of a cryptocurrency that has a cap is Bitcoin. It has a total amount of 21 million tokens. Up until now, only a bit more than 19 million BTC have been mined. The final Bitcoin is expected to be mined around 2140.
On the other hand, an example of an uncapped cryptocurrency is Ethereum. It has no cap on its total amount. However, there are currently almost 121 million ETH in circulation.
Most importantly here, Dogecoin is a cryptocurrency that has no circulation supply cap.
How Many Dogecoins Are There
Going back to the main point here – how many DOGE tokens are there? Well, the current circulation supply of Dogecoin is 133 billion DOGE. However, as you are reading this article, there are thousands and thousands of Dogecoins created by the minute.
To be more precise, every minute and 3 seconds a total of 10 thousand DOGE tokens are mined. This is easily calculated by taking the total supply that is produced every day, which is a bit over 13 million DOGE.
If we go back to math class, it’d look a little something like this – 24 hours = 1440 minutes. We have 10,000 new DOGE tokens every minute. By multiplying the minutes by tokens, we get the total amount per day, aside from the final calculations – 14,400,000 tokens.
However, because of the 3 seconds after the minute, we also have to take the three extra seconds into consideration and subtract.
Without going in-depth, this results in exactly 13,360,000 DOGE tokens produced/mined per day.
Interestingly enough, upon launch, there were exactly 100 billion DOGE tokens. Since the demand was initially low, there weren’t that many tokens produced every day.
How To Calculate The Future DOGE Supply
Calculating the future Dogecoin supply is just as easy. You just take the average 13,36 million DOGE mined per day and multiply it by the days you are looking for. We already have made a table showing you the total number of DOGE tokens mined per:
- Minute – 10,000 DOGE (on average)
- Hour – 600,000 DOGE
- Day – 13,360,000 DOGE
- Week – 93,520,000 DOGE
- Year – 4,876,400,000 DOGE
What is Dogecoin
Now that we went through the current and future supply amount of DOGE, let’s talk about the network itself.
Dogecoin is a cryptocurrency that was created in December of 2013. It is based on the popular “Doge” meme, and it has the Shiba Inu breed as its mascot. It is the first-ever “memecoin” to come to life. In this sense, it is similar to Bitcoin, as they are first-of-a-kind in a specific genre (or sub-genre).
DOGE is different from other cryptocurrencies because it has a much higher supply of tokens (as we already know). It is also unique because it uses a proof-of-work system that is different from Bitcoin’s. Instead of requiring expensive mining hardware, Dogecoin miners can use their computers to earn tokens. This makes Dogecoin more.
People mainly use it as a tipping service, although there are many service providers that accept DOGE as a payment currency.
As you probably already know, Dogecoin rose to popularity mainly because of Elon Musk. This happened back in April 2021. He posted a number of tweets regarding DOGE. And as we already know, he is quite influential when it comes to the financial and crypto markets.
Other than Elon Musk, Snoop Dogg, too, joined the party, further adding fuel to the fire.
Ever since that, a whole wave of memecoins swarmed the market. This was not exactly expected, but it was not surprising either. After all, a cryptocurrency that had no real purpose was taking off to the moon in a matter of days/weeks.
Because of that, now we have memecoins that are much more than just a placeholder and a joke token.
As we now know, there are a total of 133 billion Dogecoins in circulation. And as we also know, this supply grows by the minute, pun intended. We also went through the process of calculating the current supply, with the addition of calculating the potential supply of DOGE tokens in the future making it more convenient and understandable to look at.
With that being said, there are many other memecoins that are worthy of your attention. We suggest checking out the intriguing anime-inspired “Catgirl” project, although we’d like to warn you that it is not for everyone, as the name suggests. After all, it is the exact opposite species of the dog.