Dogecoin (DOGE) Amount: 1000 DOGE
The auction timer counts down to the end of the auction.
When the auction timer reaches 00:00:00, the auction ends and the winner is the user who placed the last bid.
1. Bidding is placing an offer.
2. Each bid on the previous offer extends the auction time by the time specified in the auction card. Depending on the auction, this can be from 5 to 60 seconds.
3. Each bid increases the item price by a few symbolic cents. Depending on the auction, this can be equivalent to 1 to 10 cents.
You need Bids to place a bid. BIDs are the currency of the service that allows you to participate in all auctions and buy items for pennies. To purchase BIDs, click here.
You can approach the auction yourself using the "Bid" button or use a special Auto-bidder that will help you participate in the auction when you are not at your computer. (read more).
Dogecoin (DOGE) is a decentralized, peer-to-peer cryptocurrency that was initially created as a lighthearted joke or parody of the numerous cryptocurrencies emerging at the time. Launched in December 2013 by software engineers Billy Markus and Jackson Palmer, Dogecoin features the face of the Shiba Inu dog from the popular "Doge" internet meme as its logo and mascot.
Dogecoin is based on the Litecoin codebase, which itself is a fork of Bitcoin. It uses the Scrypt hashing algorithm for its Proof-of-Work (PoW) consensus mechanism, making it more energy-efficient and accessible for mining compared to Bitcoin's SHA-256 algorithm. Dogecoin has a faster block time than Bitcoin, resulting in quicker transaction confirmations.
Although initially created as a joke, Dogecoin has gained a loyal following and has been used for various purposes within the cryptocurrency community, such as tipping content creators on social media platforms, fundraising for charitable causes, and even sponsoring sports teams.
Dogecoin's popularity has surged at various times, particularly in 2021, driven by social media hype, celebrity endorsements, and retail investor interest. Despite its meme origins, Dogecoin has managed to maintain a significant market capitalization, making it one of the most well-known and widely-discussed cryptocurrencies. However, it is essential to approach investments in meme-based cryptocurrencies like Dogecoin with caution, as their value can be heavily influenced by market sentiment and social media trends rather than fundamental factors.