Some Australians have made a fortune on Dogecoin, but they say it's not all about the money

Seven years ago, when today's king's ransom of Dogecoin could barely pay for a bottle of kombucha, a PhD student in Melbourne saw an opportunity.

That anonymous user was Regan Gallagher, and the exchange he set up in 2014 is responsible for distributing to Australians a volume of the cryptocurrency he estimates would now be worth "hundreds of millions of dollars".

"That was the pull for Doge — it was a new thing," says Dr Gallagher, who spoke to the ABC this week after the value of Doge had risen a few thousand per cent in a few months.

How much is a meme worth to you? For the cryptocurrency Dogecoin, named in honour of the dog that swept the internet in 2013, the answer could be more than $100 billion. 

The exchange has since closed down, but the trades it facilitated have created small fortunes for those who had speculated on the value of Dogecoin.

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