Opinion: Dogecoin is no longer a 'joke currency'

According to Global Times, Indian Express published an article titled 'DOGE is no longer a 'joke currency',' pointing out that two software engineers launched a cryptocurrency called 'DOGE' (Virtual Money with internet memes of dogs) in 2013. Its appearance represents the integration of internet memes and BTC, and also marks the birth of meme coins. What the engineers didn't expect is that 'DOGE' later became a commonly used cryptocurrency for online transactions. In 2023, American billionaire Elon Musk expressed his support for it, and since then, the valuation of 'DOGE' has skyrocketed. As of January 2025, its market capitalization has reached several billion dollars.

Under the influence of the celebrity effect and other factors, various internet memes coins have flourished. The President of the United States, Trump, launched his own internet memes coin, which features his photo and the slogan "Fight, Fight, Fight," attracting public attention and skyrocketing its Market Cap to several billion dollars. As a public figure, Trump's move has been criticized by many as reckless—the internet memes coin market is volatile, lacking effective regulation, and the market lacks comprehensive protection mechanisms, exposing investors to the risk of suffering massive financial losses.

With such high volatility and risk, why are so many people still flocking to internet memes coins and investing like crazy? Research from JPMorgan Chase shows that in the past decade, the proportion of people under 40 who invest a portion of their personal income on a monthly basis has more than doubled. However, the financial system has certain thresholds, and the industry concepts and terminology are not very friendly to less experienced investors. This is not the case with Cryptocurrency, which also quickly attracts people to invest due to its fast returns. Although the internet memes coin market is hot, it remains to be seen how far it can go in the future. Relevant regulatory agencies should introduce corresponding policies to regulate various Cryptocurrencies. At the same time, investors should further their learning, understand financial instruments, and mitigate investment risks.

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