Viewpoint: Dogecoin is no longer a "joke currency"

Odaily Planet Daily News Indian media reported that 'Dogecoin' is no longer a 'joke currency'. American tycoon Elon Musk expressed his support for it in 2023, and since then, the valuation of 'Dogecoin' has been soaring. As of January 2025, its market capitalization has reached hundreds of billions of dollars. Under the influence of the celebrity effect and other factors, various meme coins (emoticon coins) are thriving. The US President Trump launched his own meme coin, which features his photo and the slogan 'Fight, fight, fight' printed on it, attracting public attention and skyrocketing to a market capitalization of billions of dollars. As a public figure, Trump has been criticized by many for this move - the meme coin market is volatile, lacking effective regulation, and lacks comprehensive protection mechanisms, exposing investors to the risk of substantial financial losses. JPMorgan's research shows that in the past decade, the proportion of people under 40 who invest a portion of their personal income each month has more than doubled. However, the financial system has certain thresholds, and there are many industry concepts and terms, which are not very friendly to less experienced investors. Cryptocurrencies do not have this problem, and at the same time, their fast-return characteristics further attract people to invest. Although the meme coin market is hot, its future prospects are still to be observed. Relevant regulatory agencies should introduce corresponding policies to regulate various cryptocurrencies. At the same time, investors should further study and understand financial instruments to avoid investment risks. (Global Times)