What Is Dogecoin (DOGE)?
Dogecoin (DOGE) is a peer-to-peer, open-source cryptocurrency. It is considered an altcoin and was launched in December 2013 with the image of a Shiba Inu dog named Kabosu as its logo. Dogecoin's blockchain has merit with its underlying technology derived from Litecoin. Notable features of Dogecoin—which uses the Scrypt algorithm (pronounced ess-crypt)—are its low price and unlimited supply.
Important
Not to be confused with the cryptocurrency Dogecoin (DOGE), the Department of Government Efficiency (DOGE) is an agency proposed by Donald Trump after his re-election as President. The department will be headed by billionaires Elon Musk and Vivek Ramaswamy, who will focus on reducing wasteful government spending. There is also a meme coin called The Department of Government Efficiency (DOGE) that should not be confused with Dogecoin
KEY TAKEAWAY
• Dogecoin is an open-source cryptocurrency established in 2013 by Jackson Palmer and Billy Markus.
• Dogecoin features a Shiba Inu, a Japanese dog breed, as its logo.
• It is based on Litecoin and uses the same proof- of-work technology.
• Dogecoin has a loyal community of supporters who trade it and use it as a tipping currency for social media content.
History of Dogecoin
Jackson Palmer, a product manager at the Sydney, Australia, office of Adobe Inc., created Dogecoin with Billy Markus, a software developer at IBM. The intent behind the cryptocurrency was to be a way to satirize the hype surrounding cryptocurrencies.$DOGE