Already you know that, Dogecoin is a decentralized peer-to-peer cryptocurrency. It was launched as a parody of the famous digital currency Bitcoin. Alex Frenkel, Managing Director of Trading Solutions at BRD, noted:
"Dogecoin was created to address some issues that Bitcoin has in terms of speed and transfer options."
The Dogecoin community consists mainly of college students who use the coin for tips on social media platforms such as Reddit. Dogecoin has made its way through the web, becoming one of the cryptocurrencies with the most real-time search volume on Google Search, according to Coinmarketcap. More than 5 percent of global searches on "doge" are found to be related to cryptocurrencies.
Dogecoin does not have a maximum number of coins like Bitcoin. Instead, there is a production rate of approximately 100 billion coins every year. The current price is about $0.002 USD with an increase of more than 5 percent in the last 24 hours, according to Coinmarketcap.
Dogecoin is one of the most active communities in the cryptocurrency world that takes part in charitable activities such as Doge4Water and Doge4Kids.