The cryptocurrency market has long been a favorite of aggressive investors (perhaps more accurately described as speculators) because of its volatility. At their best, these digital assets can trounce traditional stock market indexes like the S&P 500 or Nasdaq Composite.
With its price up by about 340% year to date at the time of writing, Dogecoin (DOGE 0.81%) is an excellent example of this explosive, millionaire-making potential. That said, hype can sustain a rally for only so long before reality kicks in. Let’s discuss whether Dogecoin’s fundamentals can sustain continued gains over the long term.
Why Dogecoin?
Introduced in 2013, Dogecoin is likely the first of the meme coins, a class of cryptocurrency based on online jokes. Meme coins typically aren’t designed for real-world utility or to improve upon the shortcomings of other blockchain platforms. That said, their market caps…
