What is the Supply of Dogecoin?
Ever wondered why there seem to be so many Dogecoins in the world? With a circulating supply exceeding 143 billion coins and an uncapped policy, Dogecoin's inflation model is both unique and controversial. Understanding the dogecoin supply—especially its circulating supply—is key to making sense of how DOGE works, why its price moves the way it does, and how its future shapes up.
In this guide, you'll discover how Dogecoin’s supply is tracked, why it’s not limited like Bitcoin, the mechanics of new DOGE creation, how its inflation compares to other cryptos, and upcoming projections into 2050. We’ll unpack common myths, compare Dogecoin’s unlimited model to capped coins like Bitcoin, and explain it all in beginner-friendly language. Ready to dig in? Let’s get started!
What Is Dogecoin’s Circulating and Total Supply?
One of the most striking features of Dogecoin is just how many DOGE exist. As of June 2024, the circulating Dogecoin supply stands at approximately 143.6 billion DOGE and grows by 5 billion coins each year. Unlike many cryptocurrencies, Dogecoin does not have a supply limit, which means the total possible number of coins is unlimited, or “uncapped.”
But what do “circulating supply” and “total supply” actually mean?
- Circulating supply: The number of DOGE actively available for trading, spending, or holding. This excludes coins that are lost or locked.
- Total supply: Includes all coins ever created, even those that might not be usable (e.g., lost in dead wallets).
You can visualize Dogecoin’s supply growth over the years:
| Year | Circulating Supply (Billion DOGE) |
|---|---|
| 2014 | 65 |
| 2017 | 112 |
| 2021 | 130 |
| 2024 | 143.6 |
| 2025* | 148.6* |
*Estimate, based on fixed issuance rate
💡 Pro Tip: Track the live DOGE circulating supply and issuance stats using the OKX Dogecoin dashboard, which updates DOGE supply figures daily.
How Circulating Supply Is Calculated
Dogecoin's circulating supply changes every minute as new blocks are mined. Each block adds a set amount of DOGE (10,000 coins) to the circulating supply. Miners receive this reward, often selling or holding the coins, which then enter the market.
Unlike some cryptocurrencies that have complex vesting schedules or temporary locks, Dogecoin’s entire block reward becomes liquid immediately. The overall circulating supply can also decrease if coins are lost permanently (for example, lost wallets or forgotten keys), though this is hard to track.
Latest Supply Figures
As of June 2024, according to OKX live stats, the:
- Circulating supply is about 143.6 billion DOGE.
- Total supply is also around 143.6 billion DOGE (since every DOGE ever created is, in practice, circulating).
The supply increases steadily by 10,000 DOGE per minute, totaling 5 billion new coins annually. For the most recent data, check the OKX Dogecoin price page, which displays dynamically updated figures.
Does Dogecoin Have a Supply Limit? (Is DOGE Infinite?)
A common myth is that Dogecoin has “infinite” coins or unlimited inflation. The truth is more nuanced.
Dogecoin does not have a maximum supply cap. This means there is no hard limit (like Bitcoin’s 21 million) to the number of DOGE that can exist. While this sounds “infinite,” the key detail is that Dogecoin’s new supply is predictable—a fixed 5 billion DOGE added per year.
History:
- At launch in 2013, Dogecoin had a cap of 100 billion coins.
- In February 2014, developers and the community voted to remove this cap to keep mining incentives stable and ensure the network's long-term security.
- Today, Dogecoin’s supply is “uncapped” but not uncontrolled. It follows a steady, predictable inflation schedule.
Dispelling confusion: Even though Dogecoin’s supply is unlimited, inflation is not wild or uncontrolled. Instead, the number of new coins stays the same each year, so the percent inflation (new coins / existing coins) drops over time as supply grows. It isn't “infinite inflation”—it's steady, measured issuance.
💡 Pro Tip: Ignore hype about “endless coin printing.” The predictability of Dogecoin’s issuance is easy to track—keep an eye on community sources and reliable stats from exchanges like OKX.
Dogecoin’s Inflation Model: How New DOGE Is Created
Dogecoin’s creation model delivers a fixed number of new coins each year, known as an “inflationary” supply schedule. How does this process work in practice?
Every minute, one new Dogecoin block is mined. Each mined block creates 10,000 DOGE. This means every day, the network creates 14.4 million new DOGE:
- 10,000 DOGE x 1,440 minutes (1 day) = 14,400,000 DOGE/day
- 14,400,000 DOGE x 365 days = 5,256,000,000 DOGE/year (rounded to 5B for simplicity)
This scheduled, predictable emission is unlike the diminishing block rewards seen in some other cryptos.
| Year | Annual New DOGE (Billion) | Percent Inflation (Approx.) |
|---|---|---|
| 2024 | 5 | 3.5% |
| 2025 | 5 | 3.4% |
| 2030 | 5 | 2.6% |
Predictable inflation helps the network stay secure by always rewarding miners. Over time, the relative inflation rate goes down as supply grows—but there is always fresh DOGE entering circulation.
How Many Dogecoins Are Mined per Year?
Each year, mining creates exactly 5 billion new DOGE:
- 10,000 DOGE/block
- 1 block/minute
- 525,600 blocks/year
So, in the next five years, there will be at least 25 billion more DOGE added to the total supply.
Timeline: How Dogecoin’s Supply Policy Changed
Dogecoin wasn’t always unlimited. Here’s how its supply policy evolved:
- 2013: At launch, Dogecoin had a planned hard cap of 100 billion coins, aiming to finish distribution quickly.
- 2014: Developers noticed rapid mining progress—by February 2014, nearly all 100 billion coins had been minted.
- March 2014: After extensive community debate, the developers eliminated the supply cap to ensure ongoing mining incentives and network health.
- 2015 onward: Dogecoin implemented the current model: 10,000 DOGE rewarded per block forever—resulting in permanent, steady inflation.
For technical details, you can review Dogecoin’s original cap removal discussion and community posts archived by OKX’s knowledge base.
Dogecoin Supply vs. Bitcoin and Other Cryptocurrencies
How does DOGE’s supply stack up against other popular cryptocurrencies? Here’s a comparison:
| Token | Max Supply | Current Supply (2024) | New Issuance/Year | Inflation Rate |
|---|---|---|---|---|
| Dogecoin | None | 143.6B | 5B | 3.5% |
| Bitcoin | 21M | 19.7M | ~164K | <1% |
| Ethereum | None* | 120M+ | Dynamic | Varies |
| Shiba Inu | 589T | 589T (all issued) | None | 0% |
| Litecoin | 84M | 74M | ~3.15M | ~4% |
*Ethereum has no absolute cap but actively burns fees to offset issuance.
Pros and Cons: Fixed vs. Inflationary Supply
- Fixed supply (BTC, LTC):
- Pro: Scarcity boosts “store of value” appeal
- Con: Can lead to stagnant spending/use (hoarding)
- Inflationary (DOGE, ETH):
- Pro: Passive spending incentive, ongoing miner/security rewards
- Con: Unlimited supply may limit price growth
The OKX market analytics portal offers up-to-date comparative data to help users analyze supply differences easily.
Why Unlimited Supply? The Rationale Behind Dogecoin’s Inflation
Dogecoin’s supply model wasn’t random—it was chosen for specific reasons. Developers switched from a hard cap to steady inflation for two main benefits:
- Securing the network: Ongoing block rewards keep miners engaged, supporting decentralization and security—even if old coins are lost.
- Supporting payments: Small, steady inflation means some coins are always available for spending, not just hoarding. This helps DOGE thrive as a daily “fun money” currency.
Some in the community see DOGE as a payment tool, while others wish for “hard money” scarcity. Most agree the predictable supply model keeps transaction fees low and ensures network stability.
OKX is a leader in clear tokenomics coverage, helping users understand both theory and real-world effects.
Future Projections: Dogecoin Supply Milestones to 2050
Dogecoin’s total supply will keep growing for decades, but the annual inflation rate will shrink relative to the total. Here’s what’s ahead, assuming the supply schedule remains unchanged:
| Year | Projected Supply (Billion DOGE) | Percent Inflation (Approx.) |
|---|---|---|
| 2025 | 148.6 | 3.4% |
| 2030 | 173.6 | 2.8% |
| 2040 | 223.6 | 2.2% |
| 2050 | 273.6 | 1.8% |
*Estimates using the current 5B/year issuance model
Over time, even though 5 billion new DOGE are minted annually, that’s a smaller percentage of the rapidly growing total supply. This means long-term holders face less dilution as the network matures.
OKX’s advanced dashboard can generate downloadable, customized future projections for Dogecoin’s supply.
Will Dogecoin Inflation Rate Ever Decrease?
Yes, but only as a percentage of the total supply. The raw number (5B/year) doesn’t change, but as total supply increases, the inflation rate drops—similar to how pouring a bucket of water into a pool raises the level less as the pool gets bigger.
Beginner’s Guide: Dogecoin Supply Explained in Simple Terms
If you’re new to crypto, think of Dogecoin’s supply like a faucet dripping steadily—always on, but not flooding. New coins are “printed” in a slow, regular stream, unlike Bitcoin’s shrinking rewards.
Here’s a simple glossary to help you:
- Circulating supply: Coins available to spend/trade now
- Total supply: All coins ever minted
- Inflation: New coins added each year
- Max supply: The absolute cap (doesn’t exist for DOGE)
For bite-sized, visual explanations, check out the OKX beginner crypto supply 101 guide and explainer video.
Frequently Asked Questions
How many Dogecoins exist right now?
As of June 2024, there are approximately 143.6 billion Dogecoins in circulation. For real-time stats, visit OKX live Dogecoin stats.
Does Dogecoin have a maximum supply?
No. Dogecoin has no fixed maximum supply—developers removed the supply cap in 2014 to ensure steady inflation and network rewards.
How many Dogecoins are created each year?
Exactly 5 billion new DOGE are minted each year, thanks to the 10,000 DOGE per block mined every minute.
What is the inflation rate for Dogecoin?
In 2024, Dogecoin’s inflation rate is about 3.5% per year. This rate gradually drops as the total supply increases each year.
How does Dogecoin’s supply compare to Bitcoin’s?
Dogecoin has no supply cap and is inflationary; Bitcoin is capped at 21 million coins, making BTC deflationary after mining ends.
Does Dogecoin’s supply affect its price?
Yes. As more coins enter circulation, price depends on demand keeping up with new issuance. High supply can limit dramatic price spikes.
Can Dogecoin become deflationary?
Almost certainly not, unless the code is changed. Dogecoin’s current rules always issue new coins, so deflation is not possible.
Conclusion
Dogecoin’s supply model sets it apart in the crypto world: unlimited coins, steady 5 billion new DOGE per year, and no maximum cap. This predictable, inflationary system supports payments, robust security, and low fees—even as the relative rate of inflation shrinks over time.
Key takeaways:
- Dogecoin supply will always grow, but inflation (as a %) shrinks each year
- No hard limit means unique risks and opportunities
- Predictable supply is easy to track on exchanges like OKX
- Understanding supply helps you make smarter decisions
To explore live Dogecoin stats, supply projections, and trading tools, check out OKX’s Dogecoin price page and dashboard today.
Risk Disclaimer: Cryptocurrency trading involves risks, including the loss of principal. Always do your own research before investing. Enable security options like 2FA and use reputable exchanges such as OKX for maximum safety.
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