Dogecoin (DOGE) is a cryptocurrency that was initially created in 2013 as a joke by software engineers Jackson Palmer and Billy Markus. It was based on the popular “Doge” internet meme, featuring a Shiba Inu dog. Despite its humorous origins, Dogecoin has become a major player in the crypto world, gaining a strong community and considerable real-world applications.

Dogecoin operates on its own blockchain, similar to Bitcoin but uses a different, more memory-intensive hashing algorithm called Scrypt, which makes it resistant to specialized mining hardware (ASICs). This ensures Dogecoin mining is more decentralized compared to Bitcoin. Dogecoin’s total supply is uncapped, meaning that new coins are continuously generated through mining, with a fixed reward of 10,000 DOGE for each block mined. This has resulted in a massive supply of DOGE in circulation .

Initially regarded as a niche internet currency, Dogecoin gained widespread attention in 2021, particularly after endorsements from public figures like Elon Musk, and the surge in its market cap to over $88 billion during the cryptocurrency bull run . While the price has fluctuated, Dogecoin remains popular for microtransactions like tipping content creators and donations due to its low transaction fees and quick processing times.

Its adoption has also grown beyond memes, with businesses like the Dallas Mavericks accepting it as payment . Despite its humorous beginnings, Dogecoin has a loyal community and continues to see partnerships aimed at integrating it into mainstream financial systems .