Dogecoin’s value is soaring. Is it time to take it seriously?
Al Jazeera
Dogecoin, which started as a joke, is on a tear recently. What’s propelling the memecoin to new heights?
For anyone who still thinks Dogecoin is a joke, there are some 90 billion reasons that say it’s not. That’s how much the digital token is nearly worth in dollar terms after jumping again in Wednesday trading. Useless or not, the coin has been swept up in the crypto mania that’s gripped markets awash in central bank largesse. It’s the latest milestone in a year of speculative excesses for a market Nouriel Roubini once described as “the mother of all bubbles”. While in the past, trillions of dollars in stimulus by governments and central banks might have triggered a rush into gold for the inflation-wary and risky stocks for the intrepid, a deluge of cash this time round is flooding into the nascent crypto market.More Related News