Is Dogecoin at $0.58 a Triumph or an FU to the Crypto Industry?

As doge soars 45% in a day, the question of how to interpret its success is more pertinent than ever.

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As doge soars 45% in a day, the question of how to interpret its success is more pertinent than ever.

This episode is sponsored by Nexo.io, NEAR.org and Genesis Trading.

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NLW asked his Twitter followers about what the success of dogecoin meant to the crypto industry. He got an extremely diverse set of takes. Some see it as a triumph of crypto’s uncontrollability. Some see it as a triumph of the underlying bitcoin tech working on a forked chain that hasn’t had much maintenance in years.

Others see it as a damning indictment of the market as a whole; something that shows what a joke the whole industry is.

Which is it? Can it be both?

See also: Dogecoin Record Rally Is No Joke, VC Firms Can’t Get Enough of Crypto and More

Image credit: popular crypto meme, modified by CoinDesk

HOST

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.