Dogecoin was born out of a joke, but gained attention due to an active community and endorsements from celebrities like Elon Musk. Its transactions are convenient, and it has good liquidity, with some attempts made in payment scenarios.

Long-term outlook is optimistic due to: strong community consensus, stable user base; rising overall interest in cryptocurrencies leading to a network effect; exploration of certain scenarios may expand application space. However, it is important to note that it lacks underlying technological support, is highly volatile, and risks should not be overlooked.

Note: No recommendations are implied, this is purely my own perspective.