The very first memecoin to make waves in the crypto world was Dogecoin (DOGE), launched in December 2013. It started as a joke, based on the popular Shiba Inu "Doge" meme. But under the hood, Dogecoin was more than just a meme—it was a functioning cryptocurrency forked from Litecoin (LTC).
The project was initiated by two software engineers, Billy Markus and Jackson Palmer, who wanted to create a more light-hearted alternative to Bitcoin. They intentionally designed Dogecoin to be fun, approachable, and to poke fun at the ultra-serious tone of crypto communities at the time. Ironically, this exact tone helped Dogecoin gain traction among new users and younger internet audiences.
Technological foundations of Dogecoin
Dogecoin is built on the same codebase as Litecoin, which means it uses the Scrypt hashing algorithm instead of Bitcoin's SHA-256. Scrypt is a memory-intensive algorithm that makes mining more accessible to regular users with consumer hardware, at least in the early days. Scrypt-based mining also discouraged the dominance of large-scale ASIC miners, although this balance shifted over time.
Dogecoin uses a Proof-of-Work (PoW) consensus mechanism. Unlike Bitcoin, which has a capped supply of 21 million coins, Dogecoin is inflationary, with over 140 billion coins in circulation and no max cap. This design decision was meant to keep transaction fees low and encourage frequent use. The initial reward schedule was randomized, adding an element of unpredictability to mining, but this was later changed to a fixed block reward.
The block time for Dogecoin is 1 minute, significantly faster than Bitcoin's 10 minutes. This short interval enables quicker transaction confirmations, which makes the currency more suitable for tipping and daily transactions. At its core, Dogecoin was a fork of Luckycoin, which was itself a fork of Litecoin, giving it a long lineage of altcoin DNA.
Smart contracts and utility: not part of the plan
Unlike Ethereum or Solana-based tokens, Dogecoin does not support native smart contracts. It was never meant to be a programmable platform. This made it less flexible from a developer standpoint but much simpler to run and maintain. Its utility was primarily as a tipping and micro-payment token on forums like Reddit and Twitter, where users could easily reward helpful or funny content.
Over time, Dogecoin integrated with various wallets and third-party payment systems. While it lacked the programmable versatility of platforms like Ethereum, it still carved out a unique niche in peer-to-peer, low-cost payments. Its simplicity became its strength in a rapidly evolving and often complicated ecosystem.
Why Dogecoin worked anyway
The magic of Dogecoin wasn't in its codebase. It was in the community. The meme gave people a shared identity, a sense of fun, and a reason to participate. When Elon Musk tweeted about Dogecoin years later, it catapulted the token into mainstream visibility—but its roots were always in internet culture and open-source enthusiasm.
Dogecoin's community organized numerous fundraising events and sponsorships, including raising funds to send the Jamaican bobsled team to the Winter Olympics and sponsoring NASCAR driver Josh Wise. These real-world efforts created headlines, built goodwill, and helped solidify Dogecoin as more than just a joke—it was a movement.
Building a memecoin today: what’s changed?
Creating a memecoin now is far easier thanks to modern blockchains like Solana or Ethereum. Instead of forking a coin and running your own network, you can simply deploy a token contract using prebuilt templates (e.g. ERC-20 for Ethereum or SPL for Solana). This drastically lowers the technical barrier to entry.
On Solana, devs often use Token Extensions and the SPL Token Program to launch tokens with metadata, mint controls, supply caps, freeze authority, and other parameters. These features allow creators to bake in tokenomics rules from day one. You can also set up distribution models, integrate on-chain governance, or build meme-based dApps.
Liquidity is another key element. Tools like Jupiter Aggregator and Raydium enable seamless integration with DEXes, so new meme tokens can be traded almost instantly after launch. Add in bots like XSolanaBot, and meme coin creation becomes a plug-and-play process.
Security and smart contract audits
While launching a token is technically simple, security remains a major concern. Smart contracts on Ethereum, especially for meme tokens with large hype, are often targets for exploits. This is why tools like OpenZeppelin libraries and contract auditing services have become standard. On Solana, the same applies, although the programming language (Rust) and runtime model are different from the EVM.
To build trust, many meme projects today also engage in liquidity locking via platforms like PinkSale or DXLock, and they often publish detailed roadmaps and token audits to avoid being dismissed as "rug pulls."
Final thoughts
Dogecoin may have started as a meme, but it laid the foundation for a massive wave of community-driven tokens. Understanding its technology helps appreciate how far we've come. From grassroots Reddit campaigns to billion-dollar meme tokens with automated trading bots, the landscape has evolved dramatically.
And now, with tools like XSolanaBot, discovering and trading memecoins is not only fast but fully automated. Whether you're exploring the next Doge or experimenting with your own creation, the spirit of memecoins lives on—fun, community, and open participation.