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The study also reveals how, while Dogecoin is considered a "meme currency", it competes fiercely with the likes of Litecoin in everyday chain trading. DOGE traded more on-chains per day than Litecoin until June 2017, and Litecoin has been leading the way for the next six months. Over the past 18 months, Litecoin and Dog Coins have shown similar numbers in daily chain trading.

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Dogecoin, which was born on December 12, 2013, uses the same Scrypt algorithm as Litecoin. In 2014, dog coins suddenly hit the market, and due to the same mining algorithm, Litecoin and Dog Coins created mining competition. Later, the dog coin through a hard fork and the use of Litecoin-compatible joint mining, that is to say, to dig Litecoin at the same time can also obtain dog coins, the battle of power is over.

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According to data from the Golden Financial Rankings, in the past 24 hours, DOGE has topped the list in search volume. The specific top five lists are as follows: DOGE, PAI, XTZ, ONT, DASH

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Binance focuses on how the parameters of the two popular cryptocurrencies, Dogecoin and Litecoin, are improved after combining mining. Both Litecoin and Dogecoin see a significant correlation with Bitcoin in terms of monthly hash changes. The data show that the correlation coefficients for LTC/BTC pairs are 0.95, while the correlation coefficients for LTC/BTC and DOGE/BTC are 0.3 and 0.35, respectively. Binance points out.