Should You Buy Dogecoin While It's Under $1?
Dogecoin (CRYPTO: DOGE) was created in 2013 by two friends who thought the cryptocurrency industry was taking itself too seriously. They used the popular Doge meme as inspiration, and thus Dogecoin became the world's first meme token.
Despite its founders calling the whole exercise a joke, Dogecoin's market capitalization soared to over $90 billion in 2021 as speculative investors flooded into the crypto space in search of quick returns. Unfortunately, such frenzies never last, and the meme token had lost more than 90% of its peak value by mid-2022.
After a directionless couple of years, Dogecoin found its feet again when Donald Trump won the presidential election last November. He promised to create an ideal environment for the industry to thrive, with friendly policies and less regulation. Since Dogecoin is still trading below its 2021 record high, should investors buy it ahead of a potential run to the $1 milestone?
Source Fool.com
