Dogecoin (DOGE 0.99%) is a cryptocurrency that currently sports a market cap of $24 billion, making it one of the most valuable digital assets on the market. However, this standing doesn't mask the fact that its price is tanking. Dogecoin is down 52% in 2025 (as of Nov. 18).
Speculators might have their eyes on this meme coin in the hopes that it can rip higher. Should you invest $1,000 in Dogecoin right now?
Image source: Getty Images.
Investors are better off avoiding this meme token
Dogecoin has remained relevant over the years because it has a valuable community of supporters. The price moves with various hype cycles, with shorts bursts of excitement driving the narrative.
But investing because of something so unpredictable like market sentiment is no way to risk one's hard-earned savings. And Dogecoin's long-term viability is a big question mark because it lacks real-world utility. The negative price action might be a clear indicator that investors are losing hope.
Dogecoin is best avoided. There are more promising crypto assets to put money in.
CRYPTO: DOGE
Key Data Points
Dogecoin's past return is eye-popping
In the past 10 years, the price of Dogecoin has skyrocketed 116,600% higher. It has certainly been a winning investment. However, the volatility has been stomach-churning. Dogecoin is 78% below its all-time high right now.
It's very difficult to be bullish on this crypto for the long term. Five or 10 years down the road, there's a good chance the price could be lower than it is today.
