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What is Dogecoin?

Dogecoin (code: DOGE, symbol: Ð and D) is a cryptocurrency featuring a Shiba Inu from the "Doge" Internet meme on its logo. It was introduced on December 8, 2013. Compared to other cryptocurrencies, Dogecoin has a fast initial coin production schedule: there will be approximately 100 billion coins in circulation by the end of 2014 with an additional 5.2 billion coins every year thereafter. As of 10 October 2014, over 94 billion Dogecoins have been mined. While there are few mainstream commercial applications, the currency has gained traction as an Internet tipping system, in which social media users grant Dogecoin tips to other users for providing interesting or noteworthy content. Many members of the Dogecoin community, as well as members of other cryptocurrency communities, use the phrase "To the moon!" to describe the overall sentiment of the coin's rising value.