The price of Dogecoin , the ultimate memecoin and the personification of everything “real” investors hate about crypto, went up 118% this week.What do you meme?
Yet, most countries don’t produce enough “stuff” to justify the market prices of their currencies. You can see this in the collapse of almost every currency against the US dollar in 2022. Plastics that boost fossil fuel production, generate a lot of pollution, and probably cause an array of health problems.These inputs are often sourced from China and low-income countries that don’t care about human rights or worker protections.
When you have a whole social and economic movement rooted in a meme concept, backed by billions of dollars in capital, isn’t it possible that the movement gets so big that you can’t stop it? That’s a meme, for sure, but it’s also a reaction to a legacy financial system that fails too many, too often.