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How Many New Dogecoin Are Mined/Created Per Day? (Answered)

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According to the official Dogecoin website (here’s a link to the relevant page): “Dogecoin… …has a fixed yearly issuance of 5 billion coins.”

Taking this figure then, and dividing by 365 days in a year equals approximately 13.7 million new Dogecoins mined/created per day.

This sounds like a lot, after all (comparing this to Bitcoin) there will only ever be an absolute-maximum of 21 million bitcoin in existence, so increasing the number of Dogecoin by almost 2/3rds of this entire number PER DAY, EVERY DAY, seems by comparison, HUGE!

When considering Dogecoin inflation however it’s important to remember three very important points:

Important: Dogecoin Inflation Explained (and Compared to Bitcoin Inflation)

1) The total number of Dogecoin (at the time of writing) is approximately 140 billion, which even at the current rate of creating 5 billion new Dogecoins per day this still only equates to an annual inflation rate of only approximately 3.6%.

2) Because the total supply of Dogecoin is increasing, but the rate of new Dogecoin being created per day is fixed, the above-mentioned annual percentage inflation decreases (in comparison to the total supply) over time — mathematically and predictably. Making Dogecoin (according to the official website) “the perfect candidate to be used as a currency.”

3) Comparing the inflation rate of Dogecoin to Bitcoin again: whereas there are approximately 13.7 million new Dogecoin created per day, there are currently approximately 900 new bitcoin being created per day — and at todays prices this means that in US dollar terms there are approximately 1.06 million dollars (13,700,000 × $0.078) worth of Dogecoin being created per day and approximately 26 million dollars (900 × $29,300) worth of bitcoin being created per day. Meaning at today’s rates of creation for both coins and at today’s dollar prices for each coin, Dogecoin is actually a lot LESS (approx. 26 times less) inflationary than Bitcoin!

Any questions?

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