10 Best Cryptocurrencies to Buy for Beginner Traders According To Reddit

6. DogeCoin

Market Cap: $45.8 Billion

Value as of December 27: $0.31

Dogecoin (DOGE) is a peer-to-peer cryptocurrency created in 2013 as a joke in 2013 by Billy Markus and Jackson Palmer, who felt cryptocurrency was too serious. Inspired by the Doge meme featuring a Shiba Inu dog, it quickly gained popularity, especially on Reddit, where it became a tipping currency. DOGE outpaced Bitcoin in daily transactions.

It uses the Scrypt algorithm and a “proof-of-work” protocol, making mining less power-intensive than Bitcoin. Dogecoin has no supply limit, leading to inflation. Elon Musk is a huge proponent of DOGE and has even proposed integrating Dogecoin into a digital economy, aiming to position it as a key currency in futuristic technologies like IoT and AI-driven systems. DOGE is the only cryptocurrency that Musk’s company Tesla accepts.