Dogecoin was started as a joke. A meme. NOT REAL.
But some people didn't quite get the joke and it's trading at 35 cents last I checked.
The market cap is $45,945,147,508, for something that ISN'T REAL.
The circulating supply is 129,210,007,256 and my understanding is that they can mine as many as one wants, because they are ....a meme.
People invested in something that did not exist, and other people joined in because we all deserve to be wealthy for doing nothing, right?
How high does the price have to go before it stops being fake and starts being real?
It's the ultimate pyramid scheme.
Quote:
Dogecoin's 24-hour trading volume was at $34,914,098,772.67 on Friday, marking a nearly 99 percent increase in the same timeframe, according to CoinMarketCap, at the time of reporting.
The meme cryptocurrency currently ranks eighth among the world's largest cryptocurrencies based on market cap value, which is the total market value of the circulating supply of a cryptocurrency.
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https://www.msn.com/en-us/news/technology/dogecoin-price-tracker-updates-as-joke-cryptocurrency-hits-record-high/ar-BB1fItbF?ocid=uxbndlbing
That's what I mean about the emperor's new clothes.
If enough people PRETEND cryptocurrency is real, and keep saying it's real, then it will continue to deliver results as if it were real. But it isn't. All it takes is for the honest people to stand up and say "I don't see it".
Maybe that will never happen, or maybe they'll be ignored and the rest will happily go on pretending their way through life.
If you want to be the star trek guy in the red uniform, it's your biddness. Out.