Dogecoin ($DOGE ) was born in 2013 as a parody—a meme featuring the Japanese Shiba Inu and an ironic take on the rapid rise of digital assets. However, within a few years, Dogecoin transformed into a legitimate medium for payments, investments, and community initiatives.
Technical Basis of DOGE
Dogecoin is based on the Litecoin protocol, using a proof-of-work algorithm. Its feature is fast transaction confirmations (about 1 minute) and an unlimited supply of coins: approximately 5 billion new DOGE are created each year. This makes it more like an inflationary currency rather than a deflationary bitcoin.
Popularity and Support
DOGE gained immense recognition thanks to the Reddit community, meme culture, and celebrity endorsements, particularly from Elon Musk. Musk has repeatedly mentioned Dogecoin in his tweets, provoking price increases. Subsequently, DOGE was integrated into payment systems, and some companies began accepting it as payment.
$DOGE as a means of payment
Although Dogecoin is not designed for complex smart contracts or DeFi projects, it has become a convenient option for micropayments, donations, and payments on social media. Low fees and fast transactions are its key advantages.
Dogecoin is an example of how humor, internet culture, and financial technology can come together to create a new type of digital currency. And while it is perceived in various ways—from an investment asset to a joke—it is hard to ignore its impact$DOGE on the crypto world.
