$BTC

In 2013 Billy Markus and Jackson Palmer made Dogecoin (DOGE) as a humorous response to Bitcoin while using the Doge meme. The launch of DOGE featuring the Shiba Inu meme quickly gained popularity because people liked both its humorous nature and spirited community. People began using the coin only to tip and make minor purchases but there was no specific purpose behind its creation.

The cryptocurrency market saw multiple memecoins born after Dogecoin succeeded yet few of them could survive over time. People purchased Pepe Coin and Shiba Inu primarily because social media mentioned them and internet culture interested individuals. People criticized them because the projects had no major practical reasons behind their creation.