Down 63%, Is It Time to Buy Dogecoin?
Dogecoin (CRYPTO: DOGE) is down by over 60% from its all-time high of $0.74 as hype fades and competing meme coins steal its thunder. But now that it has crashed, should new investors buy the dip? Let's explore the asset's pros and cons to answer that question.
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Launched in 2013, Dogecoin is the original meme coin, a niche of cryptocurrencies designed to go viral by exploiting hype and humorous themes. Meme coins generally don't introduce innovative uses of blockchain technology. Instead, they rely on the "greater fool" theory, which suggests investors can profit from a useless asset because other people will buy it for more in the future.
Source Fool.com
