Dogecoin: A Meme’s Midlife Crisis

by

So, Dogecoin. It’s down 87% from its 2021 high. Which, let’s be honest, feels less like a dip and more like a slow-motion tumble off a very stylish cliff. Over the last decade, it’s seen a 34,000% jump, which is…a lot. Like, “accidentally bought a small island” kind of a lot. But past performance, as all the disclaimers scream, doesn’t predict future results. And right now, the future looks less like a yacht party and more like a beige conference room.

Only Buy If You’re Feeling Very Optimistic

Dogecoin has its own blockchain, which is a point people make. It’s like saying your toaster has its own power cord. It’s…necessary. But it doesn’t exactly make it a Tesla. Unlike a lot of other cryptocurrencies, it’s not built on Ethereum. This means it’s a direct competitor to Bitcoin, which is like entering a pie-eating contest against a professional competitive eater. It’s…ambitious.

If you’re considering buying Dogecoin, you really need to believe in something. Specifically, you need to believe that people will actually use it for, you know, things. As a store of value and a medium of exchange. Right now, it’s mostly a digital collectible, and I already have enough of those gathering dust in my closet. Bitcoin has an 88x larger market cap, and honestly, it feels like a safer bet. It’s the established brand. The sensible shoe of the crypto world.

Look, Bitcoin isn’t perfect. It’s got its own quirks. But it’s been around long enough that it feels…legitimate. Dogecoin feels like something you’d discover on a late-night infomercial. It’s got first-mover advantage, liquidity, network effects, and a fixed supply. It’s basically the Swiss bank account of the digital age. Dogecoin? More like a digital garage sale.

Loading widget...

Hoping for a Hype Rally is a Terrible Strategy

If you don’t think Dogecoin is going to become a widely accepted form of payment, then frankly, what are you even doing? It lacks the fundamental characteristics of a sustainable asset. No large developer network, no buy-in from the financial industry, and no hard supply cap. It’s basically a digital house of cards. The community is what keeps it going, but even they seem to be losing interest, judging by the price action. It’s like watching your favorite TV show get canceled. You knew it was coming, but it still stings.

Sure, there will be short-term price spikes. There always are. But trying to time those is a fool’s errand. It’s like trying to predict the weather in April. You’ll probably just end up wet and disappointed. The right way to invest is to buy something you’d be happy to own for five or ten years. Dogecoin doesn’t even make it to five minutes. I suspect, looking ahead, it’s likely to be worth less than it is today. And I say that as someone who owns a signed copy of the “Twilight” soundtrack.

Read More

2026-02-14 22:13