Dogecoin · DOGE

Merge-mined proof-of-work is the only thing that creates a DOGE. The block subsidy is a flat 10,000 DOGE and has not halved since 2015 — read at six heights spread across eleven years, it has not moved once — so issuance is a permanent tail that never steps down. Counting the blocks rather than assuming the one-minute target, the chain produced 122,771 of them across the window, about 1,364 a day against a nominal 1,440, carrying roughly 1.23B DOGE to miners in 90 days. That is about 4.98B a year, near 3.2% of the current base.

Dogecoin launched in Dec 2013 with no presale, no ICO and no insider vesting contract, so there is no unlock calendar in existence to fire. The chain has no smart-contract layer, so it could not hold a vesting escrow even if one were written.

There is no foundation reserve, no team allocation and no unscheduled pool — every DOGE in existence was mined and is already counted in the circulating base, so nothing can unlock into it. The Foundation's listed corporate arm reported no coins on its own balance sheet at its last two quarter ends. Listed companies that bought DOGE on the open market are tracked but sit outside this row: their coins belong to their shareholders and were already in the float, so a sale moves ownership, not supply. The largest of them sold its whole position on Jul 20 2026 and exited; two smaller holders near 70.5M and 21.7M remain flat to slightly accumulating.

There is no bankruptcy estate, no trustee distribution and no escrowed block of DOGE anywhere in the coin's history — nothing exists in this slot to unwind.

Dogecoin collects no protocol revenue and has no treasury contract, so there is nothing to fund a buyback with and no contract that could execute one. The mining pool that markets a buyback loop around DOGE sells the DOGE it mines and buys back its own token instead.

This is a measured zero, not an assumed one. Every block pays the miner the 10,000 subsidy plus the full fee total, checked at both ends of the window, so no fee is destroyed. The supply meter rises by exactly the mined amount with no step down anywhere. And on the address side, the long-standing unspendable proof-of-burn address took in under 14 DOGE across the whole window. Dogecoin has never carried a burn opcode or a base-fee sink at any level of activity.

There is no protocol-level open-market accumulation programme, and the Foundation's corporate arm reported no coins on its balance sheet and no purchases in the period. Its headline treasury figure is money it manages for others, not coins it owns. No protocol buy in window — monitored.

Dogecoin has no staking, no lockup contract and no vault — coins are either mined or simply held. Spot DOGE funds hold coins directly, but they stay freely redeemable and belong to their investors, so they do not structurally remove supply from the float.