Do Meme Coins Such as Dogecoin Have a Legitimate Case as a Long-Term Investment?
Meme coins may have massive market caps, but that doesn't necessarily make them a good investment.
Overview
It's easy to dismiss meme coins. Many of them started as silly internet jokes and are completely worthless. Even Dogecoin (CRYPTO: DOGE) -- the king of meme coins -- started as an internet joke more than a decade ago.
However, a handful of meme coins now rank among the most valuable cryptocurrencies on the planet, and meme coins as a whole represent 1.25% of the total value of the crypto market. So, is there any legitimate case for them as a long-term investment?
Details
One potential justification for investing in meme coins is diversification. Basically, you don't want to put all your eggs in one basket, so you need to think beyond just Bitcoin or Ethereum if you're investing in crypto.
Source
Originally published at www.fool.com.