The loose regulatory nature of the cryptocurrency market has led to an influx of meme coins, cryptocurrencies that lack meaningful real-world utility but can attract investors due to their appeal as a joke, because they are affiliated with someone or something popular, or for some other superficial reason.

加密貨幣市場的監管性質鬆散導致了模因硬幣的湧入，缺乏有意義的現實世界實用程序的加密貨幣，但由於笑話的吸引力，可以吸引投資者，因為它們隸屬於某人或某些人，或者出於某些其他膚淺的理由。

Dogecoin (DOGE 2.92%) is the original meme coin. It was created as a joke, but Dogecoin's price has risen by more than 50,000% since 2014. Those returns are no joke.

Dogecoin（Doge 2.92％）是原始的模因硬幣。它是開玩笑的，但是自2014年以來，Dogecoin的價格上漲了50,000％。這些回報不是開玩笑。

It's been a volatile journey, though. Dogecoin is currently on a slide, having dropped to less than $0.20 after soaring to more than $0.46 in late 2024. With Bitcoin setting new highs recently, should investors buy Dogecoin at less than $0.25 and ride the train?

不過，這是一個動蕩的旅程。 Dogecoin目前正在幻燈片上，在2024年末飆升至超過0.46美元後，跌至0.20美元。最近，隨著比特幣的新高點，投資者是否應該以低於0.25美元的價格購買Dogecoin並乘坐火車？

Here is what you need to know.

這是您需要知道的。

Image source: Getty Images.

圖像來源：蓋蒂圖像。

Dogecoin has surpassed $0.25 several times before

Dogecoin之前已經超過了0.25美元

Dogecoin was around for a while before its popularity exploded in 2021. The meme coin has a large and supportive community and is a fully functioning cryptocurrency -- meaning people can use it as a digital currency at the few places where it's accepted.

Dogecoin在2021年爆發之前已經存在了一段時間。 MemeCoin擁有一個龐大而支持的社區，並且是一種功能齊全的加密貨幣 - 這意味著人們可以在被接受的幾個地方將其用作數字貨幣。

During the past five years, Dogecoin's price has surged to $0.25 or higher a number of times. However, it has struggled to stay there. Previous rallies occurred during periods of high cryptocurrency optimism, such as 2020-2021, and immediately after the 2024 election, when investors cheered an incoming president who had campaigned on a pro-cryptocurrency message.

在過去的五年中，Dogecoin的價格已飆升至0.25美元或更高次。但是，它一直在努力呆在那裡。以前的集會發生在高加密貨幣樂觀時期，例如2020-2021，以及2024年大選之後，當時投資者歡呼了一位接任的總統，該總統曾競選了親密貨幣信息。

Remember, investor sentiment is crucial to Dogecoin's price because cryptocurrencies lack underlying earnings or tangible assets to support their value. Their prices depend on the market's willingness to pay more for tokens.

請記住，投資者的情緒對Dogecoin的價格至關重要，因為加密貨幣缺乏基本收益或有形資產來支持其價值。他們的價格取決於市場為代幣支付更多費用的意願。

Three factors working against Dogecoin's long-term price potential

針對Dogecoin的長期價格潛力的三個因素

That willingness, or the demand for the cryptocurrency, stems from three key factors: utility, tokenomics, and competition.

這種意願或對加密貨幣的需求源於三個關鍵因素：公用事業，代幣學和競爭。

Dogecoin has problems in all three areas, which could continue to work against it over time.

Dogecoin在這三個領域都有問題，隨著時間的流逝，這可能會繼續與之抗衡。

First, Dogecoin lacks significant utility. Its popularity has resulted in some adoption: For example, some investment firms hope to launch Dogecoin exchange-traded funds (ETFs), which is a step in the right direction, and some merchants will accept it as payment. Still, Dogecoin is used for trades, tips, and donations primarily within its community. Meme coins generally aren't intended for much else.

首先，Dogecoin缺乏明顯的效用。它的受歡迎程度引起了一些採用：例如，一些投資公司希望推出Dogecoin Exchange Frade Fachs（ETFS），這是朝著正確方向邁出的一步，一些商人會接受它作為付款。儘管如此，Dogecoin仍用於社區中的交易，技巧和捐贈。模因硬幣通常並不是其他意圖。

Second is Dogecoin's tokenomics. Many view Bitcoin as an anti-inflationary digital asset due to its increasing adoption and capped supply. But Dogecoin has an unlimited maximum supply, and miners earn about 10,000 tokens per minute. This ever-increasing supply has much the same effect on Dogecoin's price that share dilution has on a company's stock.

第二是Dogecoin的標記學。許多人認為比特幣是一種反向通貨膨脹的數字資產，因為其採用量不斷增加和供應量。但是Dogecoin具有無限的最大供應量，礦工每分鐘賺取約10,000個令牌。這種不斷增加的供應對Dogecoin的價格具有與股票稀釋對公司股票的影響。

Third, there is competition from newer meme coins. Many investors invest small sums in meme coins for fun. They typically aren't a serious component of a portfolio. Dogecoin's name recognition helps it, but investors may opt for different meme coins when newer, hotter tokens go viral. Less investor interest means lower prices.

第三，較新的模因硬幣競爭。許多投資者將少量款項投資於Meme Coins，以娛樂。它們通常不是投資組合的嚴重組成部分。 Dogecoin的名稱識別對此有所幫助，但是當新的，更熱的令牌傳播時，投資者可能會選擇不同的模因硬幣。較少的投資者利息意味著較低的價格。

Should you buy Dogecoin at less than $0.25?

您應該以不到$ 0.25的價格購買Dogecoin嗎？

The main points of Dogecoin and other meme coins are to have fun and build community around your favorite tokens. So it's perfectly fine to buy Dogecoin today, as long you're not spending a meaningful amount of money or seriously expecting a profit.

Dogecoin和其他模因硬幣的要點是在您喜歡的令牌周圍獲得樂趣並建立社區。因此，今天購買Dogecoin是完全可以的，只要您就不會花費有意義的錢或認真期望獲得利潤。

Of course, Dogecoin could spike and go to $0.25 and beyond, just as it has before. And if you buy Dogecoin and it happens to make you money, then that's great! Just don't count on it.

當然，Dogecoin可以像以前一樣飆升，跌至0.25美元及以上。而且，如果您購買Dogecoin，並且恰好賺錢，那就太好了！只是不要指望它。

Dogecoin, like other meme coins, should not be considered a bigger deal than it is. It's all about going in with the proper expectations.

與其他模因硬幣一樣，Dogecoin不應被認為是比以前更大的。這一切都是關於適當的期望。