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Is DOGE Coin's Rise a Sign of the Future of Cryptocurrencies, or a Fleeting Internet Meme Phenomenon?

In my personal opinion, Doge is still memecoin and just hype is not suitable for the long term. The future of cryptocurrencies is still held by Bitcoin in the long term because Bitcoin will attract people to invest in cryptocurrency.

In the future, we won't know whether Dogecoin can experience an increase until it reaches a new history, therefore there is no harm if we invest in several Altcoins including Dogecoin and don't just rely on one type of investment (Bitcoin), so that later when the most popular coin experiences an increase we can gain profits from several investments that we make in several Altcoins.

Doge Coin is a meme project and the only reason there is still hype about it is elon musk. We should be careful when we are thinking about investing in a project that is getting all the interest from the industry only because one man is interested in it. What if elon says he is going to develop his own project or he will not longer supporting doge and its development? This market will react negatively. So the advisable option is to invest in a project that is fundamentally strong and has a real use case.

Well I do agree with you there is hype because of Elon Musk. That is a big reason why we are still talking about this meme coin. But also we must remember it is the first meme coin that was created in 2013.

And first it was meant to be only a joke. But then when we can start to make money if we just hodl it this is why it is most popular meme coin. I do not think Elon Musk is going to develop his own project so I am not going to worry about this happening.

Elon even said at some point that he's not planning to make his own project. And DOGE was the only memecoins that was created as a pure joke, it feels like everything else was made just to make hype and grab money.

Yes that is true he will not make his own project. This is why investors who hodl Doge can feel safe that only at any time ELon Musk will begin to use it on Twitter.