It has been fairly a unstable 12 months for the meme coin Dogecoin (CRYPTO: DOGE). In any case, cryptocurrencies surged following President Donald Trump’s election win in November 2024, but it surely’s been a bumpy, in the end downhill journey ever since.
Whereas Dogecoin is up practically 7% in 2026, the token continues to be down over 64% prior to now 12 months. Regardless of Trump making good on his promise to introduce a regulatory setting that promotes cryptocurrencies, the features have pale amid considerations concerning the financial system and the trajectory of rates of interest and inflation, and as whales have began promoting a few of their holdings.
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There has additionally been concern that quantum know-how may render cryptocurrencies out of date, although it is laborious to understand how shut quantum is to being helpful for crypto decryption. All that stated, there nonetheless appears to be important investor curiosity within the sector, which by no means appears to remain down for lengthy. Is Dogecoin a purchase?
Dogecoin is definitely one of many oldest cryptocurrencies, having been launched in late 2013 as a joke with a Shiba Inu mascot. Whereas Dogecoin has its personal blockchain network, it’s not technically robust, because it can not course of a whole lot or hundreds of transactions per second (TPS). Moreover, Dogecoin shouldn’t be a good retailer of worth like Bitcoin as a result of it has a large provide of over 168 billion tokens, which will increase by 5 billion yearly.
The very best factor Dogecoin has going for it, in my thoughts, is that it is a meme coin with a fervent, loyal following on social media and certain a group of buyers who’ve made a ton of cash on the token. In any case, Dogecoin’s worth has risen about 1,400% over the previous 5 years.
However for there to be a actual funding case for Dogecoin, the community must develop real-world utility. Now, there have been media studies suggesting that a group of builders is seeking to construct a Layer-2 blockchain answer for Dogecoin, which might course of transactions off of the primary community and in addition give Dogecoin smart-contract performance.
This might allow builders to construct decentralized purposes, similar to gaming, on Dogecoin. Given the token’s reputation, choices like this might drive important community utilization and, due to this fact, enhance demand for the token. Nonetheless, it is troublesome to know the standing of this mission, and lots of different blockchain networks have already got these capabilities, so there is not any assure it will be a sport changer.
