#ReboundRally

Dogecoin (DOGE) is a peer-to-peer, open-source cryptocurrency. It is considered an altcoin and was launched in December 2013 with a Shiba Inu dog named Kabosu in its logo. Dogecoin’s blockchain is valued for its underlying technology derived from Litecoin. Using the Scrypt algorithm (pronounced ess-crypt), Dogecoin’s notable features are its low price and unlimited supply.

Dogecoin marketed itself as a “fun” version of Bitcoin, featuring a Shibu Inu dog in its logo. Dogecoin’s relaxed presentation suited the mood of the growing crypto community. The Scrypt algorithm and unlimited supply were an argument for a faster, more adaptable, and more consumer-friendly version of Bitcoin.

While Dogecoin is considered an “inflationary coin,” cryptocurrencies like Bitcoin are deflationary because there is an upper limit on the number of coins that can be created. Every four years, the amount of Bitcoin put into circulation through mining rewards is halved, and the inflation rate is also halved until all coins are released.