Dogecoin is a cryptocurrency that was inspired by a popular meme known as Doge, a Shiba Inu dog with colourful Comic Sans phrases meant to convey its inner monologue. Founded in 2013, Dogecoin became popular at a time when Bitcoin was just beginning to offer new possibilities to developers. Dogecoin was created to bring personality and accessibility to the new technology, propelling it as the centre of industry conversation in 2014.

As a surprise to its creators, Dogecoin continues to enjoy an enthusiastic fan base and a vibrant online community. Dogecoin is still exchanged predominantly for tipping online content creators or for doge-inspired efforts. The main reason for this is that Dogecoin is a cryptocurrency that allows users to exchange value over the internet without relying on traditional financial insinuations. Doge is a peer-to-peer digital currency similar to Bitcoin. At the moment, there is no hard cap on DOGE supply. It’s observed that volunteer coin developers have not paid much attention to Dogecoin’s infrastructure. Dogecoin continues to trade and operate due to its active community of miners. Many miners still prefer Dogecoin to other cryptocurrencies. Dogecoin was openly supported by Elon Musk in 2021, when he tweeted that the doge-inspired developers were working on improving transaction efficiently. In October 2021, cinema chain AMC Entertainment Holdings announced that it will accept Dogecoin for digital gift card purchases, further adding utility to the meme-based cryptocurrency. In February 2023, Dogecoin ranked number 10, with an $11.7 billion market capitalization.