Dogecoin

 Dogecoin is a cryptocurrency with a fun and friendly brand picture that aims to be a supportive introduction to cryptocurrency. Billy Markus, an Oregon programmer, came up with the concept for a kind of "joke" cryptocurrency. He reasoned that a more lighthearted coin, rather than Bitcoin, would have a greater chance of gaining mainstream acceptance. Although Dogecoin is nowhere near the scale of Bitcoin, the 'joke' currency's market cap has risen from more than $1 billion in early January to $47 billion on Saturday, according to CoinMarketCap

What Is Dogecoin?

Dogecoin (DOGE) is a peer-to-peer, open-source cryptocurrency. It is considered an altcoin and an almost sarcastic meme coin. Launched in Dec. 2013, Dogecoin has the image of a Shiba Inu dog as its logo.

While it was created seemingly as a joke, Dogecoin's blockchain still has merit. Its underlying technology is derived from Litecoin. Notable features of Dogecoin, which uses a scrypt algorithm, are its low price and unlimited supply..

KEY TAKEAWAYS

Dogecoin is an open-source cryptocurrency started in 2013 by Jackson Palmer and Billy Markus.

Dogecoin initially started as a joke based on a popular meme featuring a Shiba Inu (a Japanese breed of dog).

It is based on Litecoin and has the same technology behind its proof-of-work.

Dogecoin has a loyal community of supporters who trade it and use it as a tipping currency for social media content.