I discovered merino wool T-shirts about a decade ago and don't wear much else - except for a few nerdy print shirts on occasion.
Merino wool is cool even when wet and dries really quickly. It's also pretty much self-cleaning due to the lanolin (a type of fat) in the fibers, and smells don't stick to it for the same reason. Even after the sweatiest hike, I can just hang it out to dry and it's good to go.
I can go on a week's trip with just two shirts, alternating them on different days.
If you do wash a merino shirt (which you shouldn't do too often) always use a wool detergent that has lanolin in it.
And all of the above goes for all other merino garments. I've got a hoodie from a merino wool mix that I wear all around the year. It's warm during the winter and not too hot during summer nights, if I get caught in the rain it'll be dry in no time.