Dogecoin is the original memecoin. Launched back in December 2013 as a parody of the first wave of Bitcoin mania, Dogecoin took as its mascot the Shiba Inu featured in the then omnipresent doge meme (much wow!).
Dogecoin has no defined purpose. Intended as a comment on Bitcoin’s replicability and the low barrier to creating crypto knock-offs, it could perhaps, nine years on, be best thought of as a joke that’s gotten way out of hand.
However, the community that has formed around Dogecoin is undeniably strong (ft. Elon Musk) and its low unit price (courtesy of a 132 billion coin supply) and generally tongue-in-cheek nature means that DOGE has become a common entry point for those getting started in cryptocurrency.
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