Dogecoin, the so-called “asset” that began as a joke in 2013, has somehow managed to become an even bigger joke today. Created by Billy Markus and Jackson Palmer as a satire of cryptocurrencies, Dogecoin should have stayed where it belongs: in meme territory. But no. Here we are, in 2024, debating how this purposeless, utility-free, infinitely inflationary coin has become the seventh most traded asset in the crypto market. Shame? That doesn’t even begin to cover it.

The “Power” of the Meme

Dogecoin is the perfect example of how the crypto market is flooded with hype and ignorance. Its defining feature? An old 9gag's meme of a Shiba Inu dog. That’s it. While other cryptocurrencies at least pretend to solve real-world problems (like smart contracts, scalability, or privacy), Dogecoin delivers absolutely nothing but memes.

Even its creator, Billy Markus, has admitted that Dogecoin is a stupid coin with no intrinsic value. He sold off his holdings early on and has no interest in the project anymore. In other words, Dogecoin’s own “father” abandoned ship. Who’s left to prop this up? Elon Musk fans and a legion of speculators who treat the crypto market like a casino.

No Limits, No Responsibility

Bitcoin has a hard cap of 21 million coins. Ethereum is deflationary thanks to EIP-1559. Dogecoin? No limit. That’s right—over 5 billion Dogecoins are minted every year, destroying any notion of scarcity or long-term value. Who needs fiat inflation when you have Dogecoin?

But wait, there’s more. Dogecoin also lacks an active development team. Its code is stuck in the past, based on outdated Litecoin technology (which is already obsolete). Meanwhile, Dogecoin “HODLers” continue chanting that Dogecoin is "the future." The future of what, exactly?

Elon Musk and Blatant Manipulation

If Dogecoin is still breathing, it’s thanks to Elon Musk, the Tesla and SpaceX CEO who has adopted the coin as his personal plaything. With every tweet, Musk inflates Dogecoin’s price, creating fortunes for some and financial ruin for countless others. He even went as far as replacing Twitter’s logo with the Shiba Inu dog, as though it were his personal trophy.

And then what? Nothing. Because Dogecoin has no real use case. While Musk uses it to entertain his followers, gullible investors believe he “knows something they don’t.” Spoiler: he doesn’t.

Dogecoin Is a Reflection of the Crypto Market

Dogecoin’s success is less about Dogecoin and more about what it says about the crypto market. The fact that a purposeless, leaderless, infinitely inflationary coin is the seventh most traded asset reveals just how bloated the market is with speculation and financial illiteracy. If Dogecoin were a movie, it would be a slapstick comedy with a recycled script—yet somehow, people are still paying for tickets.

The Punchline: Investors Are the Joke

Dogecoin isn’t just a scam; it’s a wake-up call for the crypto market. This asset, which should have died alongside the meme in 2013, now survives on hype and empty promises. When the market corrects—and it will—Dogecoin will be among the first to collapse. The irony? Those who staked their hopes on Dogecoin will realize too late that the real joke was on them all along.

If Dogecoin is the future, then the crypto market is doomed.