Dogecoin (DOGE) is one of the cryptocurrencies that was initially created as a joke, but has now become one of the most well-known digital currencies in the world. With its cute Shiba Inu dog logo, Dogecoin has captured the attention of the internet community and famous figures like Elon Musk. But what exactly is Dogecoin? What are its origins, how does it work, and why is it so popular? Here's the complete explanation.
The History and Origins of Dogecoin
Dogecoin was created in December 2013 by two software engineers, Billy Markus and Jackson Palmer. Their initial goal was to create a fun and friendly version of Bitcoin to attract public attention to the crypto world. The name "Dogecoin" was taken from the popular "Doge" meme featuring a Shiba Inu dog with intentionally broken English captions.
Although it started as a joke, Dogecoin quickly built a strong and loyal community. Its users have even raised funds using Dogecoin to support various charitable activities and projects, such as sponsoring the Jamaican bobsled team for the 2014 Winter Olympics.
How Dogecoin Works
Technically, Dogecoin operates on a blockchain system similar to Bitcoin and Litecoin. It uses the Proof of Work (PoW) consensus algorithm, which means miners validate transactions through computational processes. However, unlike Bitcoin, which has a limited supply, Dogecoin has an unlimited supply. Around 5 billion new DOGE are added to circulation each year.
Because of its large supply and relatively fast transaction times, Dogecoin is often used for micro-transactions and tipping on social media.
Why Dogecoin Is Popular
There are several reasons why Dogecoin is so popular:
1. Active and Positive Community
Dogecoin’s community is known for its strong sense of togetherness and involvement in social causes. They’ve supported many charitable projects and sports sponsorships.
2. Support from Celebrities
One of the biggest factors behind Dogecoin’s popularity is Elon Musk’s support. The Tesla and SpaceX CEO has mentioned Dogecoin multiple times on social media, often causing its price to surge.
3. Easy Access and Low Fees
Compared to other major cryptocurrencies, Dogecoin is easier to access and has lower transaction fees, making it an attractive option for beginners.
Risks and Things to Consider
While Dogecoin appears cute and appealing, it still comes with risks. Since it originated as a joke and doesn’t have as sophisticated a technological foundation as Ethereum or Bitcoin, its value is highly influenced by market sentiment and public figures like Elon Musk. Additionally, its unlimited supply makes it vulnerable to inflation.
How to Buy DOGE on Mobee
Follow these steps to buy DOGE via the Mobee app:
- Register and Verify: Sign up and complete the account verification (KYC) process.
- Deposit Funds: After verification, deposit funds into your Mobee wallet for easier purchasing.
- Open the Trade Menu: Access the “Trade” menu at the bottom of the app.
- Select DOGE: Find DOGE in the asset list or search using the keyword “DOGE”.
- Choose Trading Pair: Select a trading pair, such as DOGE/USDT.
- Choose Transaction Method:
- Market Order: For the current market price.
- Limit Order: For a custom price you set.
- Enter Amount: Input the amount of DOGE you want to buy and review the transaction details.
- Confirm: Tap “Confirm” to process the purchase.
Once the transaction is successful, you can find your DOGE assets in the Wallet section.
Sources:
Cryptocurrency Dogecoin (DOGE): What It Is, History, and Uses. Accessed in 2025. Investopedia.
What Is Dogecoin? Accessed in 2025. Crypto.com.
What is Dogecoin? Accessed in 2025. Dogecoin.
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