Dogecoin is a digital currency that has been around since 2013. It was created by programmer Billy Markus and based on the popular internet meme of the Shiba Inu dog. The coin’s name is derived from “doge”, an internal term used for pictures of Shiba Inus (a Japanese breed of dog) that have been Photoshopped to express a range of emotions.
Dogecoin is one of the many cryptocurrencies which are being used as an alternative to fiat currencies like the dollar and euro. The coin’s value is determined by supply and demand, with more coins being made available as time goes on and more people buy them, meaning that their value decreases with time.