AMBCrypto Weekly



Ever since the original meme coin DOGE climbed exponentia­lly backed by little more than community support, many have wondered what would become of the cryptocurr­ency. While the alt has spurred the creation of hundreds of copycat joke coins and endorsemen­ts by the likes of Elon Musk and Mark Cuban, not much has been done about the usability of the network itself.

In a bid to change that, the Dogecoin Foundation regrouped last month, joined by the likes of Ethereum Co-founder Vitalik Buterin. The network had been nearly abandoned for several years before it rallied on the back of younger investors relating to its pop-culture origins.

During a recent podcast, Real Vision Cofounder Raoul Pal opined that the only reason DOGE is still ridiculed is that people don’t want to accept change. In this case, a cryptocurr­ency that originated from a meme.

Even so, billionair­es like Musk and Cuban quickly spotted people’s affinity for the alt, despite its highly speculativ­e nature. And then, suddenly,

“... you had a cryptocurr­ency worth 40 billion dollars with millions of investors.”

Well, that’s one-half of a network, Pal added.

What about the other half then?

The other half is a use case, one that the crypto certainly seems to lack. According to the exec, however, DOGE perhaps doesn’t need another use case except for as a medium of exchange. This is because people attach value to the fact that it’s a meme, and hence, enjoy using it. Much like Pal, Mark Cuban, who is also a billionair­e investor, had previously claimed that Dogecoin is the “strongest” cryptocurr­ency as a medium of exchange.

Moreover, now that the Dogecoin Foundation is back, there is a “decent possibilit­y” that the foundation will be able to build a meaningful currency.

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