Dogecoin is an open-source digital currency based on blockchain technology that enables users to make fast and cheap payment transfers in a decentralized, peer-to-peer format. DOGE is the native cryptocurrency of the Dogecoin network.
Dogecoin uses a Shiba Inu - a Japanese breed of dog, as its mascot, which had previously shot to fame by being used in several memes shared on the internet. As a result, the Dogecoin crypto is called a meme coin, a joke-based cryptocurrency that originated from online memes.
Billy Markus and Jackson Palmer created the DOGE coin as a joke as a fork from the Litecoin blockchain network. It was envisioned as a light-hearted and humorous initiative to pull in more crowds over and above the core Bitcoin audience at the time.
Since then, Dogecoin has soared in popularity, mainly powered by its highly engaged online community and mentions of the cryptocurrency among vital social media influencers. Tesla CEO Elon Musk is one of the biggest advocates for Dogecoin and its popularity, praising it frequently for its low-cost operations and calling it a more energy-efficient alternative as a digital currency to Bitcoin. Musk’s tweets about DOGE have earned him the moniker of ‘Dogefather.’
You can learn more about Dogecoin(DOGE) at our KuCoin Blog.