Dogecoin is one of the most well-known cryptocurrencies on the market, originally launched in 2013 as a lighthearted alternative to Bitcoin. Despite its origins as a meme coin, DOGE has grown into a large-cap crypto asset with deep liquidity and strong exchange support, making it a viable option for short-term traders.
DOGE is based on Litecoin’s code and uses the same Scrypt hashing algorithm. It features fast block times and very low transaction fees, which makes it suitable for small payments and tipping. Unlike Bitcoin, Dogecoin does not have a hard supply cap, as new coins are continuously issued through mining.
The markets for DOGE are highly active, with strong spot liquidity and a wide selection of perpetual futures products available on major exchanges. Dogecoin is known for experiencing sharp price movements during periods of heightened social media attention, which can create attractive volatility conditions for day traders.
The bottom line
We hope that our selection of the best day trading cryptos has helped you identify which crypto assets are worth your time if you’re pursuing a day trading strategy in the cryptocurrency market.
If you’re looking to invest in crypto instead of day trading it, our article featuring the best cryptocurrencies to buy right now can get you started in the right direction.
About Author
