Attention is the lifeblood of Dogecoin (DOGE) and other memecoins.
DOGE’s valuation is therefore based on its fundamentals plus attention, whereas memecoins like Will Smith Inu (WSI), which pumped after Will Smith slapped Chris Rock at the Oscars, are valued only on attention and are forgotten when the news cycle moves on.
The massive market cap of DOGE and the constant parade of microcap memecoins show that our concept of value is shifting from real-world commodities that come out of the ground to the ephemeral qualities that produce culture.
Nathan Thompson is the lead tech writer for Bybit.
He holds joint honors in communication and philosophy from Cardiff University.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice.
Source: Cointelegraph
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