Dogecoin ranks #9 of 508 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #12: 3 of the 11 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 4 non-native assets CoinSpectrum lists above it by market cap, all are claims on other assets.
| CoinSpectrum Grade | A · 78/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #9 |
| Rank counting claims | #12 |
| Market capitalisation | $12.6B |
| Price | $0.0803 |
| Circulating supply | 156,511,242,860 DOGE |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Work |
| Consensus mechanism | Scrypt (merge-mined) |
| Own hashrate | 0 |
| Network purpose | Payments |
| Ledger type | Overlay-asset ledger |
| Launch distribution | No premine |
| Regulatory class | Commodity |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
A — 78 out of 100, provisional (from 16 of 17 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 73 to 79 (B to A).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 10 | group average |
| Consensus: leader ladder | 10 | Proof of work: 10 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 10 | Proof of work: 10 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards | 8 | group average, 5 of 6 measured |
| Properties (10 whitepaper checks) (Source) | 7 | 7 of 10 passed source |
| Anyone can mint (permissionless) | ✓ | Scrypt (merge-mined) |
| Limited supply | ✗ | no fixed maximum |
| No pre-issuance or developer mint | ✓ | |
| No developer tax | ✓ | |
| No authority that can halt the chain or freeze funds | ✓ | No protocol-level party can freeze coins or halt the chain. |
| No central team | ✓ | Dogecoin Core is maintained by volunteer developers; the Dogecoin Foundation supports the ecosystem but does not control the client. |
| Fees under one cent | ✓ | typical fee $0.0055 |
| Payments safe to accept within seconds | ✗ | One-minute probabilistic blocks with no double-spend proofs or instant locks; zero-confirmation acceptance is not protected by the network. |
| UTXO ledger | ✓ | |
| Privacy built into the protocol | ✗ | |
| Scalability (fees, throughput, block time, block space) | 7 | average of 4 measures source |
| Fees ($0.001 or less 10, $1 or more 0) | 7.5 | typical fee $0.0055 |
| Throughput (1,000 transactions a second or more 10) | 6.2 | about 74 simple transactions a second |
| Block time (10 minutes 10, less either side) | 6.4 | a block every 1 minute |
| Block space per 10 minutes (32 MB or more 10) | 8 | 1 MB limit, 10 MB per 10 minutes |
| Security (9 checks) | 7 | 7 of 9 passed source |
| Miners paid over $1 million a day | ✓ | about $1,156,723 a day |
| Miners paid over $100,000 a day | ✓ | |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✗ | merge-mined: its blocks are found by another chain's miners |
| Largest pool or validator under 50% | ✓ | 34.8% |
| Largest three under 75% | ✓ | 72.6% |
| More than one maintained client | ✗ | 1 |
| Node software is open source | ✓ | Dogecoin Core is maintained by volunteer developers; the Dogecoin Foundation supports the ecosystem but does not control the client. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 19,890 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Decentralisation: who can mint (Source) | 10 | Proof of work: 10 of 10 on the ladder of who produces blocks |
| Decentralisation: nodes (Source) | 9 | 490 reachable nodes source |
| Decentralisation: holder concentration (Source) | — | Not yet measured |
| Capabilities (protocol features) | 3.3 | 2 of 6 passed source |
| Decentralisation | ||
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | Dogecoin Core relays transactions directly; Tor is optional configuration. |
| Light clients verify payments from headers or proofs, without a trusted server | ✓ | Bitcoin-style SPV with block headers and Merkle proofs (inherited from Bitcoin). |
| Scalability | ||
| Pruned nodes: a full node can validate and drop old history | ✓ | Dogecoin Core 1.14: -prune deletes old blocks and keeps the UTXO set. |
| Native payment channels or instant payments | ✗ | No live payment-channel network or protocol-enforced instant payments. |
| Security | ||
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | No confidential transactions. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | No sender or receiver hiding. |
| Issuance | 10 | group average |
| Premine (allocated at launch) | 10 | Fair launch: no premine |
| Fundraising | 10 | No sale of the coin |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners who produce blocks |
| Supply & Demand | 5 | group average |
| Supply & Demand (Source) | 8.3 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 46 exchanges |
| Volume rank among the top 200 | 9.25 | $192,038,700 traded in 24 hours; #16 by volume on the exchanges the site reads (ranked on the median day of the last 30, $219,730,966) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 7.4 | 1.6% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 7.9 | $28,906,891 within 2% of the price on 9 exchanges, 0.23% of its market cap, median of the last 2 days; a lower bound: the books returned by 1 of them stop short of 2% |
| Market cap ($1M 0, $10B or more 10) | 10 | $13B, at the top of the scale |
| Futures exposure (open interest ÷ market cap, less is better) | 5 | perpetual open interest 7.4% of its market cap |
| Supply (smaller is better) | 1.7 | no fixed maximum; 157 billion in circulation |
| Record | 7.2 | group average |
| Record (origin, claims, halts) | 9 | 2 positive, 1 negative source |
| Positive record | ||
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
| Negative record | ||
| Launched as a joke, its founders saying it has no purpose | ✗ | Created in December 2013 by Billy Markus and Jackson Palmer as a joke based on the Shiba Inu 'Doge' meme, parodying the wave of altcoins; both founders have described it as a joke (dogecoin.com project history). |
| Age (years since genesis) (Source) | 10 | 12 full years since genesis. Genesis block mined 6 December 2013. |
| Development (work, improvements, unfixed issues) | 2.5 | 3 positive, 3 negative source |
| Positive | ||
| Steady work, 3.5 of 6 | ✓ | 27 commits in 7 of the last 12 months (github.com/dogecoin/dogecoin); Dogecoin Core 1.14.9, released 2024-12-01; it is the only release in the last 24 months (1.14.8 was 2024-08-07). |
| Shipped a security fix in two years, +1 | ✓ | Dogecoin Core 1.14.9, 1 Dec 2024: fixed bugs inherited from upstream Bitcoin and Namecoin code, upgrade strongly recommended (no CVEs named). |
| Token issuance through a metaprotocol, +1 | ✓ | Doginals/DRC-20: read by indexers, not validated by the chain's nodes |
| Negative | ||
| Unfixed vulnerability, disclosed 2024-07-03, −1 | ✗ | CVE-2020-14198: misbehaving peers are auto-banned into an unbounded ban list, so many attacker addresses can exhaust CPU and memory; still in Dogecoin v1.14.9. |
| Unfixed vulnerability, disclosed 2024-09-18, −1 | ✗ | CVE-2019-25220: a long low-difficulty header chain can exhaust memory because the node has no headers pre-synchronisation; still in Dogecoin v1.14.9. |
| Unfixed vulnerability, disclosed 2026-05-05, −1 | ✗ | CVE-2024-52911: a crafted invalid block can make script-check threads read freed precomputed transaction data and crash the node; still in Dogecoin v1.14.9. |
Seventeen criteria, weighted equally. The Cryptocurrency Standards group four parts: properties (ten checks drawn from the Bitcoin whitepaper), scalability (four measures), security (nine checks) and decentralisation (three scales). Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
156,511,242,860 DOGE are in circulation, against no fixed cap — issuance has no defined end.
| Nodes or validators | 490 |
|---|
Dogecoin mines nothing for itself: every block sampled carried another chain's work. The 2.00 PH/s recorded against it is borrowed from a parent chain, so it is shown but never ranked on.
Named a digital commodity in the joint SEC-CFTC interpretation (Mar 17, 2026).
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
Dogecoin is #9 among cryptocurrencies and #12 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 3 places between Dogecoin's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).
See the 2 wrapped and staked claims on Dogecoin →