Market Cap: $56.53 billion.
Current Price: $0.38.
Dogecoin is one of the most famous currencies among investors and is the most well-known meme coin, starting as a joke about Bitcoin, then gaining popularity and acquiring an enthusiastic and active community.
It has received support from many figures in the crypto community and celebrities like Elon Musk, and it's important to note that it is a 'meme coin' and lacks intrinsic value, except for the strong community backing it. Investors should conduct thorough due diligence before deciding to invest in meme coins in general.
The ranking of meme coins is filled with tokens that originated as jokes, offering little value with high volatility, which makes them divisive; they are a material for criticizing the emerging sector as being too trivial and dangerous for mainstream investors.
Pros
An active community works towards the success of this token.
High liquidity and repeated media attention make it a favorite among speculators.
Cons
It lacks intrinsic value; it derives its popularity from media hype around it and support from stars and celebrities.
There is no maximum limit on the total supply, leading to inflation of the token.
This currency is characterized by extreme speculation, as price movements are often driven by media hype rather than fundamental market factors.