Dogecoin is a cryptocurrency that was created in 2013 as a parody of Bitcoin, based on the viral Shiba Inu “Doge” meme. Despite its humorous beginnings, it has become one of the most well-known cryptocurrencies. It uses a proof-of-work system and it processes transactions quickly and comparably lower fees (Litecoin).
Unlike Bitcoin, Dogecoin doesn’t have a supply limit. New coins are continuously created, which makes it inflationary by design. This means it’s not really used as a store of value, but more for tipping online, small payments, or speculation.
Today, Dogecoin is still very community-driven. It gains momentum when big public figures like Elon Musk mention it, which often causes sudden price spikes. Technologically, it’s not as innovative as newer blockchains, but its simplicity and meme appeal keep it alive.
While it’s not used much in the real world, some merchants do accept it, and there are discussions about updating its code to improve performance. Still, its future largely depends on social trends and how the crypto market evolves.