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Dogecoin is a dog-themed cryptocurrency pioneered in 2013, an alternative to more famous choices like bitcoin. Although the value of an individual Dogecoin is very small (often a portion of a cent) the massive number of Dogecoins in circulation correlates to a market capitalization of over $1 billion.
The Dogecoin currency is based on an internet meme featuring a picture of a Shiba Inu, a popular Japanese dog breed. The currency's faceplate features the Shiba Inu's head with the letter "D" superimposed.
Like some other cryptocurrencies, the Dogecoin has seen large changes in value and prolific mining. Unlike some of the other cryptocurrencies that get more attention in national media, Dogecoin was created as a "fun" and less controversial type of digital money. Part of its popularity is based on its innocuous origins, since users and miners do not have to deal with the continuous forking and community controversy that has been associated with bitcoin over the years.