Launched in 2013, Dogecoin is a meme-inspired cryptocurrency based on the popular "DOGE" meme featuring a Shiba Inu dog.
DOGE was created by software engineers Billy Markus and Jackson Palmer as a cheeky response to altcoins which were gaining increased popularity. Initially, DOGE had a hard cap of 100 billion that was removed, making the new supply limitless.
It uses a Scrypt algorithm and a proof-of-work consensus algorithm. Additionally, it was created using the open-source code from Litecoin, which was initially a fork of the Bitcoin blockchain. You can buy DOGE through exchanges like OKX or through peer-to-peer transactions on its native blockchain.
Dogecoin Foundation currently looks after the development of Dogecoin. The advisory board of Dogecoin Foundation includes Ethereum founder Vitalik Buterin and Jared Birchall, who represents Elon Musk's legal and financial advisor. Public support from influential people like Musk, quick and cost-efficient transactions, and massive community support are leading factors to why Dogecoin has emerged as one of the most popular meme coins to date.