At the time of writing this — 2021/05/04 17:00 CEST, Dogecoin has a market capitalization of $74 billion. This memo presents why this digital asset is highly overvalued.
It’s just a currency
One Dogecoin doesn’t entitle you to any share or revenues of a company, it’s not pegged to an audited stable asset reserve and it’s not a good store of value due to its unlimited supply. Dogecoin isn’t a utility token either, it doesn’t give you access to a specific service or product within an ecosystem powered by blockchain. Dogecoin is simply intended as a currency.
High velocity but…
Interviewer: “So, let’s start with a short introduction. Tell us a bit about yourself!”
Aspiring Data Scientist: “Well, I studied applied statistics at university, then I did an internship, then I …”
Oh dear.. here we go! Another candidate going through his CV like one would go through a shopping list. Meaninglessly listing items one after the other, making sure not to forget the one week Python university class assignment they did 5 years ago or the overly theoretical online course they followed last week during lunch break. …