Should You Invest in Dogecoin?

Dogecoin (CRYPTO: DOGE) is the original meme coin, and it's the most successful. Even though the fun and friendly dog coin has seen better days, it's still worth about $25 billion as of Dec. 3.

After a brief post-election rally, Dogecoin has been in the red for most of 2025 and is down 53% year to date. If you were planning to invest while the price is low, you may want to reconsider.

This probably isn't the bottom for Dogecoin

Outside a few spikes here and there, Dogecoin has largely been trending downward since hitting $0.48 in December 2024. Buying the dip is a popular investing strategy, but there has to be a good reason to expect that an asset will recover. Otherwise, you're just gambling.

Dogecoin doesn't offer any unique value as a cryptocurrency. It lacks the built-in scarcity and name value of Bitcoin, and it does not offer an extensive blockchain ecosystem like Ethereum. You can use Dogecoin as a digital currency, but the same is true of many other types of cryptocurrency, so that's far from a unique selling point.

Meme coins tend to fall off quickly once the hype fades away. In Dogecoin's case, it reached an all-time high of $0.74 in May 2021, and then plummeted by over 90%, sinking as low as $0.05. With no real use case or growth catalysts on the horizon, Dogecoin could easily end up even lower within the next year.

Lyle Daly has positions in Bitcoin and Ethereum. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.