Should You Buy Dogecoin While It's Under $1?
Dogecoin (CRYPTO: DOGE) was founded in 2013 by two friends who thought the cryptocurrency industry was taking itself too seriously. Inspired by the "Doge" meme that was spreading across the internet at the time, they created Dogecoin as a joke (in their own words).
Little did they know it would become one of the most valuable cryptocurrencies on Earth in 2021, reaching a peak valuation of around $90 billion. But it spiraled from there and lost more than 90% of its value by mid-2022. Unfortunately, Dogecoin has almost no real-world utility, and speculative frenzies never last. So it simply couldn't sustain its momentum.
But after spending all of 2023 and most of 2024 licking its wounds, Dogecoin found its footing again when Donald Trump won the recent presidential election in November, after campaigning on a series of pro-crypto policies. Moreover, his campaign was boosted by Elon Musk, a longtime supporter of Dogecoin.
Source Fool.com
