Primarily it is used for tipping but just like any currency, you can spend it or send it, and it's worth the value that it's currently​ trading at, which is $0.002 USD. I know, cheap if you ask me.
Out of the top 100 crypto coins, Dogecoin is #21 in rank.
I own a good amount of it for a couple of different reason.
*1. It is cheap right now so even if it hits $1.00 their is a ton of money to be made.
*2. It is trading on Poloniex, which is the site I use to make my crypto trades.
*3. Because many people know it, use it, and trade it.

I do own a lot of the cheaper coins, such as SIACOIN, DOGECOIN, STR, BURST, and a few others along with some steem of course :)

I hope this was helpful to you
Thanks for commenting and happy steem :)

@cryptomydollars ​