What Is DogeCoin and How Do You Spend It?

What Is DogeCoin and How Do You Spend It?

Dogecoin is one of the more controversial entries on CoinMarketCap’s list of top cryptocurrencies. Amazingly, at the time of writing, Dogecoin finds itself firmly cemented in the top ten leaderboards of most popular coins, sitting at number five with a staggering market cap of over $66bn. Even suggesting that Dogecoin would be at a tenth of those levels just a few years ago would have caused many crypto enthusiasts to erupt with laughter, yet here we are. So what exactly is Dogecoin, and what are its use cases? Let’s take a look.

What is Dogecoin?

While it’s widely known in the crypto community, Dogecoin is primarily considered to be more of a meme than a serious cryptocurrency such as Bitcoin or Ethereum. The currency was created back in 2013 by Billy Markus and was named after the popular Doge Shiba Inu meme.

Apparently, the coin was developed in “about two hours” and was built on Bitcoin technology. Shortly after the coin was developed, the crypto community immediately embraced it. It quickly became a viral sensation, leading its market cap to soar by 300% in only two weeks after its launch.

The following years for Dogecoin were turbulent, to say the least, from scandals within their own community to contentions over the currency being inflationary with no finite number of total coins available; not many people regarded it as a serious contender for being an adopted currency on a global scale.

2021 - The Year of the Doge

As it turns out, Dogecoin was here to stay, and 2021 has (so far) be