With all the altcoins available on the market it becomes something of a hassle to pre determine which ones are really in it for the long haul or if there are those which are just about to vanish into thin air (with millions of dollars of losses to boot) DogeCoin is one of those that has seen its value soar considerably in recent months and is also part of the exclusive $1 billion club. It seems that its dedicated team of developers and fans have taken to the coin as it is fast developing into a major alternative to Bitcoin.

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Dogecoin is an alternative cryptocurrency, which was created in 2013. It is based on Litecoin and is quite similar to it from a technical standpoint. What separates Dogecoin from every other cryptocurrency is the fact that it uses Doge as its mascot. Doge is a meme associated with imagery of a Shiba Inu breed with colorful captions of the dog's supposed internal monolog. Originally intended as a joke currency, Dogecoin unexpectedly exploded thanks to a dedicated community of Doge fans, at one point reaching a market capitalization of more than $1 billion in 2017 – a meteoric 1000% rise. The coin remains highly popular even in 2018.

Dogecoin, which started as a parody cryptocurrency, recently broke the $1 billion market cap although it has fallen back slightly of late, largely through the massive fall in crypto currency valuations over the past few weeks. However this has shown us how far the crypto currency market has now come ever since Bitcoin’s creation in 2009, nine years ago.

Four years after the Bitcoin code was mined, programmer Billy Markus coded his very own cryptocurrency in 2013. With the help of Jackson Palmer, a product manager and data analyst at Adobe, Dogecoin was brought to life, meme and all. Taking up the popular internet meme of the Shiba Inu dog, the creator envisioned the cryptocurrency to be a friendly online payment system, although its rise in popularity may not have been intended.
Nevertheless, in the space of five years, Dogecoin has grown into its own vibrant community of users. Over time, Dogecoin has become popular as a ‘tipping system’ among its users - as stated on the website.

One of the most popular uses for Dogecoin is "tipping" fellow internet-goers who create or share great content. Think of it as a more meaningful "like" or upvote, with real value that can be used all across the internet. This has rapidly expanded in the social media market too.
The cryptocurrency has no limit on the amount of coins that can be created by mining. At the time of writing, there are over 112 billion Dogecoins in circulation. While a single Dogecoin is worth no more than $0.01, a single cent, the total market capitalization is now over $1.19 bln - amounting to 72,400 Bitcoins at current market prices.

Much like Cointelegraph is known for its bold artwork, Dogecoin took up an Internet meme as its ‘mascot’ of sorts. The word ‘doge’ is a popular internet term for a dog, which started out as a simple misspelling of the word in a TV series back in 2005. As explains, the term doge was married with the picture of a Shiba Inu dog on Reddit back in 2010, leading it to become one of the most well-known internet memes. The cute and adorable dog immediately caught on in the market and could have been one of the major contributors to the coin’s success over the years.

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