Purpose: Originally created as a joke, Dogecoin gained popularity due to its active community and use in tipping or microtransactions.
Features:
Inflationary Supply: Unlike Bitcoin, Dogecoin does not have a fixed supply, with new coins being continuously mined.
Fast Transactions: Dogecoin’s block time is only 1 minute.
Use Cases: Tipping, charitable donations, microtransactions, and as a fun and meme-driven cryptocurrency.
Status: Despite its origins as a meme coin, Dogecoin has grown into one of the most well-known cryptocurrencies, partially due to endorsements from figures like Elon Musk.