#MemeWatch2024
1. Dogecoin is a decentralized, peer-to-peer digital currency that was created in 2013 as a "joke" cryptocurrency, based on the Doge internet meme.
2. Despite its lighthearted origins, Dogecoin has developed an active community of supporters and has seen its market capitalization grow to over $10 billion as of August 2023.
3. Dogecoin utilizes a proof-of-work consensus mechanism similar to Bitcoin, but with a much faster block time of 1 minute, allowing for quicker transaction confirmations.
4. The unlimited supply of Dogecoin, with over 130 billion coins in circulation, has been a point of criticism, as it can make the currency susceptible to inflation over time.
5. Dogecoin has gained popularity as a "tipping" currency on social media platforms, with users sending small amounts of DOGE to each other as a way of showing appreciation or support.
