After GameStop, the rise of Dogecoin shows us how memes can move markets

To own Dogecoin is to participate in a culture. People buy it because it's fun to have, is inherently amusing, and comes with a welcoming and enjoyable community experience

One of the most difficult problems in finance right now is figuring out the fundamental economic value of cryptocurrencies. And the past week has complicated this further.

For many cryptocurrency investors, the value of Bitcoin is based on the fact it is artificially scarce. A hard cap on “minting” new coins means there will only ever be 21 million Bitcoin in existence. And unlike national currencies such as the Australian dollar, the rate of release for new Bitcoin is slowing down over time.

Dogecoin, a cryptocurrency that takes its name and logo from a Shiba Inu