Yes, we know that initially Dogecoin was made just for fun and there was no purpose for this Dogecoin, and of course this is dangerous for those who only follow the trend of a coin and they are too fomo with the promise of New ATH 1$, the result is that many of them can't get out. from the top price
With coins like Dogecoin and other meme coins they are only good for short term investment, meaning know when to get in and know when to get out, this coins are based only on FOMO and yes they are faster way of making money only with exact amount of money you are ready to lose, meme coins and doge coin have no real use cases but Elon musk can make something good out of doge coin, he has the power to but still I don't wanna keep any for a long term