In the world of Digital Money, there is a surprising phenomenon: a Virtual Money that originated as a joke has astonishing market capitalization. This is the legendary story of DOGE, which showcases the absurdity of the digital age we live in.

The founder of DOGE has long exited the stage, leaving behind a project that lacks substantial value support. However, surprisingly, DOGE has secured a place in the cryptocurrency space with its unique community culture and network hot effect.

What is even more striking is the 'Musk Effect' on the market capitalization of DOGE. This tech mogul can cause significant fluctuations in the DOGE market with just one post on social media. In 2021, the market capitalization of DOGE soared to an astonishing height of $88 billion, even surpassing some century-old companies. Although this bubble later shrank, the market capitalization of DOGE still remains in the tens of billions, firmly staying in the top ten of the cryptocurrency market capitalization rankings.

The astonishing performance of DOGE's market capitalization essentially reflects a collective consensus gamble. It completely discards the valuation logic of traditional assets or mainstream cryptocurrencies, and is purely driven by group sentiment and the frenzy of popular culture. The massive market capitalization of DOGE is not only a vivid portrayal of market irrationality but also poses a sharp question about how we define 'value'.

However, we cannot help but ask: when people's enthusiasm wanes, can this prosperity built on a foundation of nothingness continue? The future direction of DOGE may become an important indicator to test the rationality of the cryptocurrency market. In any case, the existence of DOGE has already become a phenomenon in the history of Digital Money that cannot be ignored, worthy of our deep reflection and discussion.