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Dog Coin NFT Becoming $550 Million Asset Has Sent Memes to the Moon

PleasrDAO, an art collective, had bought the NFT for $4 million in June. (Image Credits: Twitter/@DogeDillionaire)

PleasrDAO, an art collective, had bought the NFT for $4 million in June. (Image Credits: Twitter/@DogeDillionaire)

While Dogecoin memes are a pretty common sight on the internet, the overnight surge of Dog coin gave rise to some fresh memes on Twitter.

DOG coin a fraction of the non-fungible token (NFT) inspired by the Doge meme coin has doubled its value in less than 24 hours of trading to $550 million, according to crypto data aggregator Coingecko. This surge now makes it one of the most valuable NFTs to date.

PleasrDAO, an art collective, had bought the NFT for $4 million in June. On Wednesday, it started offering fractionalised ownership in the form of $DOG, according to a Bloomberg report.

While Dogecoin memes are a pretty common sight on the internet, the overnight surge of Dog coin gave rise to some fresh memes on Twitter. Take a look.

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Amidst the chaos in the crypto world, SpaceX and Tesla CEO Elon Musk, who is known as the foster father of the cryptocurrency Dogecoin in the digital space took to Twitter on Saturday and wrote, “Time is the ultimate currency.”

With this tweet, netizens were forced to scratch their brains about what the tweet means and what Elon plans to do next. Since shared, the tweet is retweeted, with and without quotes, by more than 61,000 people and has gained almost 3.7 lakh likes.

Commenting on the statement catapulted by Elon in the social space, Kunal Shah, founder of CRED, said, “Entropy is the only truth.” Anchor/Producer at OANN Morning News, Stephanie Myers asked, “What crypto should I invest in?” “Time is what we want most, but what we use the worst!” said Amit Bhawani, the popular tech blogger.

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first published:September 05, 2021, 11:02 IST