Dogecoin (DOGE) in Crypto: What It Is, History, Uses

By Rachel Warren – Updated Feb 19, 2025 at 8:43 PM EST

Key Points

Dogecoin was created in 2013, originating from a meme, and can be used for online transactions.
It has no cap on coin production, leading to potential long-term price instability.
Dogecoin's community, or "Doge Army," plays a significant role in its market influence.

Dogecoin (DOGE -2.68%) is a cryptocurrency that was originally created as a joke in 2013. Its origins goes back to the Doge meme that featured a Shiba Inu dog. Dogecoin is an open-source, peer-to-peer digital currency. Like other cryptocurrencies, it runs on blockchain technology.

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Dogecoin meme coin standing centrally placed among bunch of crypto coins on blue background. Banner with golden Doge token. Close-up, soft focus. — Image source: Getty Images.

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What is it?

What is Dogecoin?

Dogecoin is a cryptocurrency known for its robust and loyal online community, known as the "Doge Army." Dogecoin uses the Scrypt algorithm, a proof-of-work algorithm that's used to secure transactions and improve storage efficiency.

Dogecoin is also classified as an altcoin, which is a term used to refer to a cryptocurrency that's not Bitcoin (BTC -4.25%). Because Dogecoin has an unlimited supply, long-term price stability is extremely difficult. The more tokens that are created, the lower the price of those tokens go. Dogecoin can be purchased on most crypto exchanges.

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About the Author

Rachel Warren is a contributing Motley Fool stock market analyst covering pharmaceuticals, biotechnology, medical devices, information technology, and consumer goods. Prior to The Motley Fool, Rachel was a paralegal and legal administrator. She holds a bachelor’s degree in paralegal studies from Liberty University School of Law.

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Rachel Warren has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.