And so we come to this. Dogecoin. A few months ago we incredulously observed that the total theoretical value of all Dogecoin — a joke cryptocurrency based on an internet meme of a dog — had passed $12bn, making it more valuable than The Gap.
Today, as Dogecoin-mania continues, that comparison is no longer enough. At the latest count Dogecoin's market cap stands at a little over $75bn — more than the iconic Ford Motor Company and almost as valuable as Uber.
Bloomberg writer Matt Levine summed it up as good as anyone can: Dogecoin is up because it’s funny. Just when you thought markets couldn't get any weirder.
