How many Dogecoins are there, & Why its Tracking Matters

How many Dogecoins are there and how do you track their total number in the network? This article explains the basics of this topic.

Introduction:

Due to its famous Shiba Innu dog meme-inspired logo, Dogecoin holds a strong image as a fun and iconic cryptocurrency. This meme coin has made several headlines in the crypto world and has also won a loyal fanbase among crypto enthusiasts. If you are one of them, you might be interested in how many Dogecoins are there as of 2024 and how much will be in the future. This knowledge lets you know how many coins are in circulation, which impacts mining and coin prices.

Dogecoins are different:

Because unlike other cryptocurrencies (like Bitcoin), Dogecoin doesn’t come with a predetermined number of tokens to be produced in its circulation. Bitcoin, which has a predetermined number of 21 million coins, is different from Dogecoin, which has unlimited supply in its circulation, and the number increases every day.

With the birth of Dogecoin in 2013, the initial number of mining operations was predicted to be 100 billion. This number was surpassed due to rapid mining, which spread all around the globe. This is because of the continued endorsements on social media from significant celebrities and strong community support. This increased interest impacted mining activity, with the overall total supply reaching over 130 billion in 2021 and growing up to 140 billion by early 2022.

So, how many Dogecoins are there?

The total volume of Dogecoin that had been mined up to early 2015 was estimated to be 75 billion. It rose further throughout the years 2015 and 2016 and recorded nearly 100 billion by mid-2017. As of the time of writing in July 2024, Dogecoin had passed 144.8 billion and is still increasing. Although the mining was much faster than anticipated, the generation of new Dogecoins was limited at a slower rate by adding only about 5 billion coins to the total supply per year.

Is it Important to track the total number of Dogecoin?

Yes, and there are many reasons why tracking the supply of meme cryptocurrencies such as Dogecoin is essential for you when dealing in crypto. First of all, information related to the current supply of Dogecoin (or any other currency) is useful for estimating the market condition. This helps investors and dealers make changes to their investment strategies.

For example, when there is an increase in the number of Dogecoins in the current market, their price may likely be pulled down. Inversely, a demand-pull could result in an increased supply of coins, causing downward pressure in price and demand, leading to a decrease in price. Another good reason for you to keep track of an increase in this number is that it gives you an indication of growth in the Dogecoin network which is indeed a positive sign for further strategic investments.

How to track Dogecoin?

You can easily do this by using general crypto currency explorers which are web applications that can be used to track all the transactions in the Dogecoin network. They also help you monitor and track the total supply of Dogecoin and other currencies being circulated and coming in the pipeline. You also get statistics like the height of the block, the number of transactions, priority fees, and more.

For a reliable discovery of such currencies, including Dogecoin, we recommend Tokenviewopen in new window, a platform with support for more than 120 cryptocurrencies with a detailed view of transaction history and total token number. If you are a developer, then you also get blockchain APIs, node as a service, address tracking, and more.

Wrapping Up:

Since you now know how many Dogecoins are there as of July 2024, which is around 144.8 billion, it can be concluded that the number of Dogecoins will steadily rise in the future as there is no cap on this currency, which is contrary to Bitcoin, another globally known cryptocurrency. The increase in the mining number of Dogecoins has been incremental over the years, but the increase in Dogecoins itself in its circulation network has been limited to $5 billion every year.