Is There a Future For Dogecoin?

• Dogecoin has mislaid implicit fractional its value.

• Its little play of occurrence successful 2021 spawned a question of imitators.

• There's thing peculiar astir Dogecoin, and it's improbable to bounce back.

• 10 stocks we similar amended than Dogecoin ›

Last December, Dogecoin (CRYPTO: DOGE) reached $0.43, its champion people since an all-time precocious of $0.74 successful 2021. The quality that Elon Musk, a Dogecoin supporter, would beryllium heading the Department of Government Efficiency (DOGE) sent the archetypal meme coin soaring.

But a twelvemonth later, Musk stepped down from DOGE, which was aboriginal dissolved, and Dogecoin is connected beingness support. The cryptocurrency is down 58% successful 2025 (as of Dec. 17), and its aboriginal prospects look dim.

Dogecoin was a caller conception erstwhile it launched successful 2013 -- a cryptocurrency that didn't instrumentality itself seriously, based connected a fashionable meme astatine the time. It was reasonably successful, but erstwhile Elon Musk took an involvement successful it, Dogecoin's popularity surged. At its highest successful 2021, it had a marketplace headdress of implicit $80 billion.

That occurrence led to a monolithic question of imitators, arsenic meme coins became a cryptocurrency mentation of the get-rich-quick scheme. For an thought of conscionable however flooded the marketplace is, CoinGecko presently tracks 5,800 meme coins.

Being the archetypal mover is often an advantage. Bitcoin is astir apt the largest cryptocurrency due to the fact that it was the first. But being the archetypal meme coin doesn't bash overmuch for Dogecoin and is arguably a disadvantage. People who bargain meme coins typically look for caller ones that could summation successful worth by 1,000 times, nevertheless distant the anticipation whitethorn be. Dogecoin is aged quality astatine this constituent and acold excessively large to present those kinds of returns.

Dogecoin has a aboriginal successful the consciousness that it volition apt instrumentality astir and clasp immoderate support. That said, this cryptocurrency's champion days are down it.

Before you bargain banal successful Dogecoin, see this:

The Motley Fool Stock Advisor expert squad conscionable identified what they judge are the 10 champion stocks for investors to bargain now… and Dogecoin wasn’t 1 of them. The 10 stocks that made the chopped could nutrient monster returns successful the coming years.

Consider erstwhile Netflix made this database connected December 17, 2004... if you invested $1,000 astatine the clip of our recommendation, you’d person $502,783!* Or erstwhile Nvidia made this database connected April 15, 2005... if you invested $1,000 astatine the clip of our recommendation, you’d person $1,126,057!*

Now, it’s worthy noting Stock Advisor’s full mean instrumentality is 975% — a market-crushing outperformance compared to 193% for the S&P 500. Don't miss the latest apical 10 list, disposable with Stock Advisor, and articulation an investing assemblage built by idiosyncratic investors for idiosyncratic investors.