Skip to content

Puzzled by Dogecoin? The ABCs of a $90 Billion Joke

Dogecoin Joke Is Turning Serious In Latest Crypto Binge
Photographer: Gabby Jones/Bloomberg

Follow us @crypto for our full coverage.

Dogecoin may not be the funniest joke of all time, but it’s probably the one with the largest market valuation. The digital token, previously famous as the first “memecoin,” approached $90 billion in early April as retail traders embraced high-risk (and meme-friendly) opportunities fueled by the pandemic era’s exceptional economic stimulus. A year before, it had been worth $315 million, a figure that many at the time thought laughably high. No joke!