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Key Points
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Meme coin Dogecoin (CRYPTO: DOGE) has a circulating supply of 150.5 billion coins, leading to a market cap of $31.5 billion despite a trading price of $0.21.
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As of this year, Dogecoin is down 32%, the worst performance among major cryptocurrencies, while Bitcoin (CRYPTO: BTC) is up 22% and reached an all-time high of $124,000.
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Dogecoin has never traded above $1 in its history.
Despite its significant supply and poor year-to-date performance, Dogecoin remains in the top 10 cryptocurrencies by market cap. It surpassed notable companies like Ford Motor Co. and General Mills Inc. last year in market cap rankings.
Investors should be cautious, as Dogecoin’s total lifetime coin supply is uncapped, contrasting with Bitcoin’s fixed supply of 21 million coins, which many see as a better store of value.
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