Now that Elon Musk is finally leaving the Trump administration, it’s time to forget about Dogecoin (DOGE 2.10%). While there was hope earlier in the year that the billionaire tech titan might be able to help push up the price of this meme coin, that simply hasn’t happened. For the year, Dogecoin is down a whopping 40%.
But all hope is not lost. There are plenty of other options if you are looking for a low-cost, high-upside cryptocurrency. My favorite pick right now is XRP (XRP 2.51%), which is up a modest 6% for the year. Here’s why you should consider it for your portfolio.
Utility coin vs. meme coin
Dogecoin has always been — and always will be — a meme coin. Moreover, it was created as an internet joke, so it was never meant to be serious. The only way Dogecoin can increase in value is through hype, buzz, and speculation.
Musk’s brief tenure in the White House is proof of that. Even though he…
