$DOGE Dogecoin PT 69 and higherWhat is Dogecoin?
Dogecoin is a cryptocurrency created on December 6th, 2013 based on the popular "Doge" Internet meme and features a Shiba Inu on its logo. The codebase of the project was a fork of Litecoin, so it inherited many of the same features such as the hashing algorithm, with the only difference being branding and large inflationary supply.
One of Dogecoin's strengths is its relaxed and fun-loving community. But like most meme coins, this is also a weakness because other currencies are seen as more professional.
History of Dogecoin
Dogecoin was created by Billy Markus from Portland, Oregon, and Jackson Palmer from Sydney, Australia. They wanted to create a fun cryptocurrency that would appeal beyond the core Bitcoin audience.
Introduced as a "joke currency", Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014. Compared with other cryptocurrencies, Dogecoin had a fast initial coin production schedule: 100 billion coins were in circulation by mid-2015, with an additional 5.256 billion coins every year thereafter. As of 30 June 2015, the 100 billionth Dogecoin had been mined.
What is the utility of the DOGE token?
DOGE is primarily used as a tipping system on Reddit and Twitter, where users tip each other for creating or sharing good content. The community is very active in organizing fundraising activities for deserving causes.
