Dogecoin (DOGE) is a cryptocurrency that began in December 2013 as a joke, created by software engineers Billy Markus and Jackson Palmer and based on the popular Shiba Inu meme. It grew into one of the best known cryptocurrencies, supported by an active online community that uses it for tipping, small payments and charity fundraising. Dogecoin is based on Litecoin's code and uses proof of work, with a new block roughly every minute, so transactions confirm quickly and fees are low. Unlike Bitcoin, there is no maximum supply, and about 5 billion new coins are added each year. Dogecoin is often called a memecoin, and its price can be very volatile.