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While initially launched as a joke, Dogecoin has remained relevant in the broader cryptocurrency market due in large part to its vibrant community of supporters. Dogecoin is primarily used as a tipping mechanism today for online content creators and other social media users that support the network.

Interestingly, Dogecoin has carved out a niche in the cryptocurrency industry for its inclusive social media community and relaxed approach to its purpose. Dogecoin hit a $1 billion market cap in January 2018 to its creator, Jackson Palmer’s, dismay.

Dogecoin has received favorable, albeit intentionally playful, commentary from popular personalities, such as Elon Musk on several occasions.