Do Meme Coins Such as Dogecoin Have a Legitimate Case as a Long-Term Investment?
Yahoo Finance ·
It's easy to dismiss meme coins . Many of them started as silly internet jokes and are completely worthless. Even Dogecoin ( DOGE 1.74% ) -- the king of meme coins -- started as an internet joke more than a decade ago. However, a handful of meme coins now rank among the most valuable cryptocurrencies on the planet, and meme coins as a whole represent 1.25% of the total value of the crypto market. So, is there any legitimate case for them as a long-term investment? One potential justification for investing in meme coins is diversification . Basically, you don't want to put all your eggs in one basket, so you need to think beyond just Bitcoin or Ethereum if you're investing in crypto. That leads some investors to consider meme coins such as Dogecoin . After all, DOGE currently has a market cap of $12.5 billion, ranking it among the top 10 cryptocurrencies. Other meme coins with substantial market caps include Shiba Inu , Pepe , and MemeCore . All rank among the top 100 cryptocurrencies by market cap.
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