All Hail the Doge King
Apple's MehTags: Parents Can't Wait, Dogecoin Has Outperformed Bitcoin Since Inception, Twin Peaks on the Nasdaq
It’s been a mere 10 weeks or so since Rifiki Musk revealed our young Doge prince to the masses. And now, our young prince has finally ascended the Crypto Throne, coronated by the hungry, speculative masses:
…at every step of the way if you bought Bitcoin, you should have bought Dogecoin instead in retrospect
We should not be surprised that a $40B market cap coin may outperform a $1 Trillion market cap coin in certain windows, even going forward. These are meaningless assets without any intrinsic value (beanie babies, tulips) and the $1T asset has a much bigger hurdle for each % move upwards.
All that the above quote really means is that the Doge/BTC ratio is at an all time high:
If this ratio drops, then the statement from Joe that “every step of the way” Doge would have performed better immediately becomes invalid.
Apple MehTags: Parents & Pet Owners Rejoice
If you haven’t been overwhelmed by Apple Card, Apple TV+, Apple Music, and other mediocre products, there’s a new one to add to Tim Cook’s track record of innovation: AirTags.
They show up on your GPS locator, you can even ping them with sounds. The most likely “hot” trend with these? Child and pet monitoring.
And let’s not avoid giving Apple credit for anticipating misuse of these devices:
AirTag is designed to discourage unwanted tracking. If someone else’s AirTag finds its way into your stuff, your iPhone will notice it’s traveling with you and send you an alert. After a while, if you still haven’t found it, the AirTag will start playing a sound to let you know it’s there.
— Apple
Live Shot of Today’s Speculator Strut
Markets across the board are rewarding speculators who strut with confidence. The largest bubbles are in tech and related assets (crypto, SPACs, NFTs, etc), so we’re watching the Nasdaq Composite closely. It appears we may have hit twin peaks on the index, having failed to mount the February high.
Is this the end for Meme Investors? Stay tuned…
Bonus: Welcome “Penn 15” to the Pen15 Club:
Despite recent events, NYC developers continue to bet on the promise of commercial space. One brilliantly christened new venture? Penn 15, baby:
