Dogecoin (DOGE) is a peer-to-peer, open-source cryptocurrency and was launched in December 2013. It is often called an memecoin because it uses an image of the Doge meme as its logo. Dogecoin’s blockchain was derived from Litecoin. Notable attributes of Dogecoin, which uses a scrypt algorithm, are its low price and unlimited supply. Fans of Doge Coin often say the limitless supply is a feature.
However, Doge Coin’s continual minting of 5 billion Doge Coin each year prevents it from having any type of scarcity. Therefore, the unlimited supply is just as much a bug as it is a feature. New holders of Doge Coin automatically lose value if the price of Doge Coin does not increase to offset the Doge Coins minted after their initial purchase.