Dogecoin (Ɖ) is one of the many open-source cryptocurrencies that has penetrated the post-Bitcoin marketplace. As of February 2014, Dogecoin rates fifth (5th) in market capitalization among Bitcoin, Litecoin, and all other cryptocurrencies (source). This particular coin’s name is based on the “doge” meme, a slang term for “dog”.
Dogecoin is a fork of LiteCoin (presently third in market capitalization) and is based on the scrypt cryptographic algorithm, instead of being SHA-2-based like Bitcoin. The fact that Dogecoin is scrypt-based means that you can still actually mine Dogecoin with your Graphics Card or CPU (or Liquid Web server).
Without further delay… to the moon!