Should You Buy Dogecoin While It's Under $1?
Dogecoin (CRYPTO: DOGE) was the world's first meme cryptocurrency. It was founded in 2013 by two friends who used the "Doge" meme (which was sweeping the internet at the time) as inspiration. They admitted the whole exercise was a joke, so they never expected Dogecoin would go on to amass a market capitalization of over $90 billion in 2021.
However, Dogecoin struggled to build on those gains and is currently trading at just $0.20 per token, which is 72% below its 2021 record high of $0.73. The token has struggled to find a legitimate use case out in the real world, so its value continues to be determined by speculative investors who typically only seek short-term gains.
But the cryptocurrency industry currently operates in the friendliest political and regulatory environment in its history, as President Donald Trump's administration attempts to make America the world leader in this financial technology. Therefore, if Dogecoin ever had a chance to regain its momentum, this would be the moment. Should investors buy the meme token while it still trades for less than $1?
Source Fool.com
