The youngest member of the lot, Dogecoin, was developed in 2013 as a progression to a funny meme on the Internet but has since then caught up as a serious payment system to make online transactions.

The name comes from ‘Doge’, an Internet meme that combines pictures of a Shiba Inu dog with fragments of loose English over them. This meme has been popular on top content curating websites since 2013. Apart from the ironical usage, Dogecoin actually does offer quite a lot better features compared to its contemporaries. The transfer time is just under a minute, compared to 2.5 minutes on Litecoin and 10 minutes with BTC. Also, there is no limit on the production of Dogecoin, and it depends entirely on the supply created by developers.

As of 2016, 4400 Doge coins are worth $1 on the open market and has huge growth prospects with the demise of Bitcoin seeming imminent to some observers. The total number of Doge coins in circulation exceeds 102 billion. In dollar terms, the Doge coin market capitalization is near $27 million.