We started off the week with news about the astounding rise of sales of NFTs which now seems so dull in comparison to the rise of the Doge. 

Dogecoin started off as a joke created by software developers Jackson Palmer and Billy Markus ­– must be hard for them not to laugh at the market cap of the coin which hit $85B on May 5, 2021.

The ultimate meme coin is up more than 11,000% this year.

If you want to put some seriousness on this, check out this semblance of an explanation from the likes of no less than Mark Cuban:

As long as more companies take doge for products/services, then Doge can be a usable currency because it MAY hold its purchasing value better than a $ in your bank. If interest rates skyrocket or the amount spent falls or stagnates, so will Doge. Yes, a joke is now legit

— Mark Cuban (@mcuban) May 2, 2021

Better than that is this wordplay we uncovered for your enjoyment:

Mike Bucella, BlockTower Capital general partner:  “The real value is in today’s meme-driven culture and doge represents the network value of memetics, which may prove to be enormous. If at some point, the DOGE community decides to implement a burn or new supply mechanism, via a protocol hard fork, then this value will have a higher likelihood of being retained long-term.”

And finally a balanced though self-interested voice in the fray:

“When you think about the whole spirit of what this crypto revolution is, there’s something pure in what dogecoin has done,” Michael Novogratz, founder and CEO of Galaxy Digital said. “It’s a little bit of a middle finger to the system. People are unhappy with the current financial system. They just are.” He also is the originator of “the most honest s***coin” moniker.

The celebrity following of Dogecoin would make any company envious:  Elon Musk, Mark Cuban, Snoop Dogg and Kiss bassist Gene Simmons are among the many adherents.

Before hitting the send button on this email, we were still searching for the meaning of memetics.  :) 

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