What is Dogecoin?
Dogecoin (DOGE) is a cryptocurrency launched in 2013 as a parody of the digital money boom. The coin's symbol is a Shiba Inu dog from an internet meme. Over time, DOGE became one of the largest crypto assets with a multi-billion dollar market cap.
How it works
Technically, Dogecoin is based on early cryptocurrency code and uses Proof-of-Work mining. Unlike Bitcoin, DOGE's emission is unlimited: a fixed number of new coins are issued annually. Fast blocks and low fees made the coin convenient for tips and small transfers.
Pros and cons
- Pros: high recognition, low fees, large community.
- Cons: unlimited emission dilutes value, price heavily depends on news and social media sentiment, limited fundamental value.