Remember Dogecoin? The Worst Meme Of All Time Is Now Worth Over $1.6 Billion

The trend of purposefully misspelling words in order to appear quirky and cute was pretty bloody difficult to endure. It started off alright, with some absolute classic Flerme memes being birthed, then Doge came to life, and the world as we knew it was over.

Well, back in 2013 (when the joke was still funny) a couple of dudes made a cryptocurrency inspired by the Shiba Inu dog. Cofounder Billy Markus said that the price didn’t even matter and everyone assumed the cryptocurrency would eventually fizzle out.

After hitting a peak value of $90 million, the total value of all Dogecoins slumped down to $20 million at the start of this year.

“New features aren’t being implemented into dogecoin because there’s no active development anymore,” said co-founder Jackson Palmer in March last year. “Eventually, it will become outdated. And with that, the network will organically wind down.”

Well, people continued to buy the currency, and when the cryptocurrency market exploded this year, Dogecoin exploded as well. Now sitting at a very comfortable $1.7 billion, the currency has come a long way from simply being a meme.

Palmer, who hasn’t been involved with the project since 2015, said “It says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn’t released a software update in over 2 years has a $1B+ market cap,”

Source: Arstechnica


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