Dogecoin emerged on December 6th, 2013, inspired by the popular "Doge" Internet meme and distinguished by its logo featuring a
Shiba Inu.
The project's codebase originated as a fork of
Litecoin, inheriting most features, including the hashing algorithm. The primary distinctions lay in branding and a notably expansive supply.
Initially introduced as a "joke currency," Dogecoin swiftly cultivated its distinct online community, attaining a market capitalization of US$60 million by January 2014. Its coin production schedule was notably rapid compared to other cryptocurrencies: 100 billion coins circulated by mid-2015, followed by an annual addition of 5.256 billion coins. By June 30, 2015, the 100 billionth Dogecoin had been mined.
Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia, collaborated to create Dogecoin, aiming to craft an amusing cryptocurrency that would extend beyond Bitcoin's core audience. Primarily used for tipping on Reddit and Twitter, users tip one another for generating or sharing quality content. The community actively engages in fundraising endeavors for worthy causes.
Since 2015, the developers haven't implemented significant alterations to Dogecoin. This stagnancy might result in Dogecoin falling behind, prompting some Shiba enthusiasts to shift towards more advanced platforms like Ethereum. Dogecoin's strength lies in its relaxed and jovial community. However, this informality is also considered a drawback, as other currencies project a more professional image.
