DOGE is a great tool for short-term speculations but definitely not a good one for long-term investment. Although it's backed by the richest man in the world so it might have a bright future.
Exactly. Only a fool would think Dogecoin holds the key towards untold riches. It was never meant to be taken seriously in the first place. With a high supply and abandoned development, Dogecoin only serves as a short-term investment than all the other way around. Elon Musk is just backing DOGE in order to get what he wants (which is pumping the coin to cash out big profits). If people think that DOGE has a bright future because it's backed by Elon Musk, then we're off to a bad start.
There are a lot of worthless "meme" coins on the market that came after the DOGE craze. Whenever they'll survive or not will depend on mainstream demand. What ultimately matters is not how much money you'll make with crypto, but rather what you can do with it. As long as there are real use cases for Dogecoin, nothing else matters. Just my opinion
