Dogecoin is a cryptocurrency that started as a joke but has gained significant popularity and value over the years. It was created in December 2013 by software engineers Billy Markus and Jackson Palmer. The coin’s mascot is a Shiba Inu dog from the “Doge” meme, which helped propel its viral appeal. Initially intended as a fun and lighthearted alternative to Bitcoin, Dogecoin has developed a strong community and seen substantial use in tipping and charitable donations online.

Dogecoin operates on a decentralized, peer-to-peer network similar to Bitcoin, using a proof-of-work consensus mechanism. Unlike Bitcoin, however, Dogecoin has an unlimited supply, with over 130 billion coins in circulation as of 2024, which influences its price dynamics and inflation rate. The cryptocurrency gained mainstream attention through endorsements from celebrities like Elon Musk, whose tweets have notably influenced its market value. It has been used in various high-profile transactions and fundraising efforts, including sponsoring NASCAR drivers and raising funds for charitable causes like clean water projects in developing countries.