Dogecoin Says Putting a 'Dog on the Money' Was One of the Internet’s 'More Reasonable Ideas' — The 12802% Lifetime Gain Isn't Bad Either
Domino's Pizza, Inc. DPZ | 0.00 | |
Grayscale Dogecoin Trust ETF Accred Inv GDOG | 0.00 | |
21Shares Dogecoin ETF TDOG | 0.00 |
Dogecoin’s (CRYPTO: DOGE) official X account reflected on its dog-themed origins on Tuesday, describing the decision to feature a dog meme on money as “one of the internet’s more reasonable ideas."
The Celebrated ‘Dog’ Origins
The X post celebrated Dogecoin’s origins as a joke cryptocurrency built around the viral “Doge” meme and the Shiba Inu dog, which helped build its community appeal.
“Putting a dog on the money was actually one of the internet’s more reasonable ideas,” Dogecoin said.
The post triggered a flurry of replies from the DOGE enthusiasts, with one “Hoodroids” stating that what started as a joke has evolved into a “real asset,” thanks to the internet.
Has the Joke Turned into a Real Asset?
DOGE is currently worth $12.31 billion, higher than that of Domino’s Pizza Inc. (NASDAQ:DPZ). At its peak, the memecoin was valued at over $82 billion.
In addition, Dogecoin remains one of the most heavily traded digital assets, recording over $566 million in trading volume over the last 24 hours.
This memecoin has also attracted institutional attention through spot exchange-traded funds trading on Wall Street, including Grayscale Dogecoin Trust ETF (NYSE:GDOG) and 21Shares Dogecoin ETF (NASDAQ:TDOG). Together, these ETFs have drawn net inflows of $12.20 million, according to SoSo Value.
The memecoin has gained a whopping 12795.08% since its launch in 2013. Lately, bearish cryptocurrency market conditions have eroded its value, resulting in a 67% decline over the last year and a 43% loss year-to-date.
Price Action: At the time of writing, DOGE was exchanging hands at $0.07208, up 3.07% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy:ihrinmoisuc on Shutterstock.com