Dogecoin (DOGE) has been one of the most talked-about cryptocurrencies in 2021.
Thanks to Elon Musk and Snoop Dogg endorsements, it reached a record high of $0.72 in early May. As of May 21st at 12:01 BST, it was trading at $0.39.
So, if you’re curious about how many ‘meme cryptocurrencies’ are in circulation, this article is for you.
How Much Dogecoin Are In Circulation?
Dogecoin’s Total Market cap exceeds $54 billion, and as Currency.com reports, there are over 132.67 billion Dogecoins in circulation.
In terms of circulation, Dogecoin is the most popular cryptocurrency. Stellar (XLM) is the closest, with over 105 billion coins.
Comparatively, only 18.99 million Bitcoin (BTC) are in circulation.
Does Dogecoin Have A Limit?
Dogecoin has no cap on coins to be mined, but its counterpart, Bitcoin, has a hard cap set at 21 million. The limit is predicted to be reached by 2140.
Jackson Palmer, the creator of Dogecoin, decided not to place a cap on Dogecoin after it reached 100 billion coins.
He stated this in 2014:
“Based upon everyone’s feedback, it was decided that the Dogecoin code base will remain as it was originally released, and they’ll not be implementing any changes.”
He added:
“Since lost wallets and other means can destroy coins, the goal of the currency is to keep around 100 billion coins in circulation. As a result, rewards will remain at 10K per block after 100 million Dogecoins are made, keeping the supply stable and helping to maintain mining at 100 billion.”
Although there is no limit on how many Dogecoin can be created, at the 10,000 Doge limit, the block time of Dogecoin is approximately 1 minute. This means about 5 billion Dogecoin could enter circulation each year.
