Before 2019, if you told a person in the stock market that a dog coin created as a joke could deliver millions, they’d label you crazy and a lunatic. It was beyond anyone’s imagination that Dogecoin, created as a meme, could make investors millions down the road. How did it happen? In this article, we will highlight how DOGE went from a meme to a million-dollar cryptocurrency that everyone wants to be a part of.
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Dogecoin: From Meme To Millions
George Orwell‘s famous quote, “Who controls the past controls the future, who controls the present controls the past,” took a new turn with the emergence of social media. Memes took center stage on Facebook and Twitter, playing a large and predominant role in how social media is perceived.
Therefore, George Orwell’s quote quickly turned into “Who controls the memes, controls the Universe” and it was coined by Elon Musk.
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Memes play a large role in modern times, and the internet is plush with never-ending jokes on all topics. Dogecoin entered the markets at the right place and at the right time, poking fun at Bitcoin during its initial days. The jokes mainly caught on with youngsters and found a soulful connection through memes.
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The connection is one-of-a-kind and the first ‘eclipse of the heart’ between memes and the financial world. Thus giving birth to the phrase ‘meme is money’ which mostly takes center stage in the cryptocurrency markets.
In simple words, the majority of youth don’t find charts and balance sheets entertaining or worthy of their time. Make a meme out of the same concept, and then it is ‘shut up and take my money’.
Therefore, the likes of Dogecoin and other meme cryptocurrencies thrive in the markets as it’s a language they understand. Never would anyone have imagined that someday memes could deliver millions, and we are now living and breathing this in the cryptocurrency world.
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At press time, Dogecoin was trading at $0.06 and was down 9.1% in the 24-hour day trade. DOGE is also down 91.04% from its all-time high of $0.73, which it reached in May 2021.