I personally do not suggest investing in Dogecoin for the following reasons:
The continued inflation is not good from an investment standpoint. There is a high chance that you will not get good returns on your investment.
The father of the project has left the cryptocurrency world for an undetermined period of time. This is not a bad thing in itself (the father of Bitcoin, Satoshi Nakamoto, has been MIA for almost all of Bitcoin’s life), but Dogecoin has become directionless since his departure.
The development community hasn’t done anything (except become philanthropists) for the past 2 years.
All these things aside, the orignial idea was a joke. It was meant to be a funny thing that had a lot of inside references to cultuarlly relevant (at the time) things. For instance, the inspriation to have a coin supply of more than 100 billion came from a movie.
As a general rule, I don’t usually recommend investing in something that is openly a joke.
But it certainly doesn’t mean that Dogecoin is dead; there is still a thriving Dogecoin community. Even Coindesk captured some of the comments of existing Dogecoin dev team members which clearly indicated that as long as people are willing to engage with, learn about, or buy things using Dogecoin, it is not going to die.
I also feel that it is a great tool for tipping, and for those who haven’t used cryptocurrencies before, it’s a great way to start experimenting. Dogecoin is very cheap – around $0.0009 at the time of this writing – so buying 1000 Dogecoin only costs about $1.
But ultimately, the decision is up to you.
If you want to still invest or try out Dogecoin, you can do so by exchanging any other currency for Dogecoin from CoinSutra’s cryptocurrency exchange.