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Dogecoin (code: DOGE, symbol: Ð) is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant, fun, and free from traditional banking fees.
Dogecoin features the face of the Shiba Inu dog from the "Doge" meme as its logo and namesake.
It was introduced on December 6, 2013, and quickly developed its own online community reaching a market capitalization of US $5,382,875,000 on January 28, 2021.
Dogecoin was introduced as a joke but turned out into a more serious project.
Dogecoin started its initial coin production schedule with 100 billion coins in circulation.
By mid-2015 the 100 billionth Dogecoin had been mined with an additional 5 billion coins put into circulation every year thereafter. There is currently no implemented hard cap on the total supply of Dogecoins.
Initially, Dogecoin had a supply limit of 100 billion coins, which would already have been far more coins than the top digital currencies were allowing.
Nonetheless, in February 2014, Dogecoin founder Jackson Palmer announced that the limit would be removed in an effort to create a consistent reduction of its inflation-rate over time.