Doge meme NFT's value flies from $4 million to $220 million overnight after getting split into 17 billion pieces

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Doge meme NFT's value flies from $4 million to $220 million overnight after getting split into 17 billion pieces
Iconic Doge meme NFT’s value jumps by 55 times after getting divided into billionsBI India
  • The Doge meme, which is the face of the world’s eighth largest cryptocurrency, has exploded in value after being fractionalised — or split into 17 billion parts.
  • The non-fungible token (NFT) was sold for $4 million in June and now it’s estimated value has ballooned to $220 million.
  • 20% of the Doge meme NFT’s 17 billion pieces were auctioned off last night, on September 2, for anyone to buy.

The most expensive meme non-fungible token (NFT), a picture of the Dogecoin’s Shiba Inu called Kabuso, sold for $4 million in June. After being fractionalised into 17 billion pieces — split up to allow for community ownership — the NFT is now valued at $220 million.

That’s 55 times more than how much PleasrDAO, a decentralised autonomous organisation, bought it for just over two months ago.


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To be fair, the hype around NFTs has been growing rapidly during the same time. The upcoming Bored Ape Yacht Club NFT auction by Sotheby’s is expected to fetch up at least $12 million. The current highest bid, as of 4:30 pm Indian Standard Time (IST), is at $4.5 million.

According to the aggregation site NonFungible, the total number of NFT sales has exceeded 6 lakh in the last 30 days coming in at a massive $2.3 billion in value.


Doge meme NFT goes from $4 million from $220 million


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According to PleasrDAO, selling of the Doge meme NFT is akin to the Louvre auctioning off stake for the common man to own a piece of the Mona Lisa. The Doge meme — also called the ‘holy grail of internet culture’ — is currently the face of Dogecoin, the eighth largest cryptocurrency in the market with a market cap of $39.35 billion.

While the NFT was split into 17 billion parts, only 20% — which comes up to around 3.4 billion — were put up for auction on September 2.

Each portion, an ERC-20 token named $DOG, is priced at 0.0000035186 Wrapped Ethereum (WETH), which is around $0.013.
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The auction generated 11,942 WETH, which comes up to $44.6 million and puts the overall nominal value of the Doge meme NFT at $220 million.

According to some — like the fractionalised token platform called Fractional — that’s still at the low end of the scale. The actual value could be even higher at around $398 million.

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The most expensive meme NFT ever sold will be auctioned off in 17 billion pieces tonight
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