The dogecoin frenzy, spurred on by Musk and fellow billionaire Mark Cuban in recent weeks, has been driven largely by retail traders hoping to get-rich-quick.
“The latest uptick in dogecoin’s price isn’t indicative of any meaningful value the cryptocurrency offers, it’s just a surge in interest from people looking to get-rich-quick.
I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself.