Should You Buy Dogecoin While It's Under $1?
Dogecoin (CRYPTO: DOGE), created in 2013 as a parody of Bitcoin, is named after a popular meme featuring a Shiba Inu dog. Many investors initially dismissed it as a joke, but this little token generated some massive gains over the following 12 years.
Dogecoin started trading at just $0.00026, but it skyrocketed to a record high of $0.7376 on May 8, 2021. Its rally was driven by big endorsements from Elon Musk, Mark Cuban, Snoop Dogg, and other high-profile celebrities -- and amplified by the buying frenzy in meme stocks, cryptocurrencies, and other speculative investments in 2020 and 2021.
Image source: Getty Images. The Dogecoin mascot.
Source Fool.com
